IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 2447 of 2010(E)
1. MUHAMMED ASHFAQ,S/O.SHEIK ISMAIL
... Petitioner
Vs
1. THE MANAGER, UNION BANK OF INDIA,
... Respondent
2. THE AUTHORISED OFFICER,
3. ZAINABA AGED 42 YEARS, W/O.MOIDEENKUNHI,
For Petitioner :SMT.R.PADMAKUMARI
For Respondent : No Appearance
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :11/03/2010
O R D E R
P.R.RAMACHANDRA MENON, J
---------------------------
W.P(C) No. 2447 of 2010-E
----------------------------
Dated this the 11th day of March, 2010.
J U D G M E N T
The petitioner has approached this Court challenging the
proceedings initiated by the respondent Bank under the SARFAESI
Act. Many a ground has been raised in this Writ Petition, both legal
as well as factual. However, during the course of hearing, the
learned counsel for the petitioner submits that the petitioner does
not press any of the contentions as aforesaid and also would not
like to avail the alternate remedy under the statute by approaching
the Debt Recovery Tribunal and on the other hand, the petitioner
intends to wipe off the liability by way of reasonable instalments.
2. The learned counsel appearing for the respondent Bank
submits that the Bank has got very serious contentions as against
the averments raised in the Writ Petition and that the outstanding
liability is about Rs.4.7 lakhs. However, since the petitioner has
come forward stating that the petitioner is ready and wiling to clear
the entire outstanding liability by way of reasonable instalment; this
Court does not propose to go into the merits of the case, for the
W.P(C) No. 2447 of 2010-E 2
time being.
3. After hearing both the sides, this Court permits the
petitioner to clear the entire outstanding liability in ‘five’ equal
monthly instalments; the first of which shall be effected on or
before the 30th of March 2010; to be followed by similar instalments
to be effected on or before the 30th of the succeeding months.
Subject to this, all further coercive steps being pursued against the
petitioner shall be kept in abeyance. It is made clear that, if any
default is committed in satisfying the due amount as above, it will
open to the Bank, to proceed with appropriate steps in accordance
with law for realisation of the entire amount in a lump sum.
The Writ Petition is disposed of.
Sd/-
P.R.RAMACHANDRA MENON
JUDGE
//True Copy//
P.A to Judge
ab
W.P(C) No. 2447 of 2010-E 3