IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 25376 of 2008(U)
1. NISTHAR.M., NALUTHUNDIL, THONNALLOOR,
... Petitioner
Vs
1. THE MANAGER, STATE BANK OF TRAVANCORE,
... Respondent
2. AUTHORISED OFFICER, STATE BANK OF
3. THE GENERAL MANAGER, STATE BANK OF
For Petitioner :SRI.C.B.SREEKUMAR
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :25/08/2008
O R D E R
ANTONY DOMINIC, J.
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No. 25376 OF 2008 U
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Dated this the 25th day of August 2008
J U D G M E N T
Petitioner is aggrieved by the securitisation proceedings
initiated by the Bank against him. According to the Standing
Counsel who entered appearance on behalf of the 1st respondent,
they have already obtained an order under Section 14 of the
Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 and a Commissioner has
also been appointed.
2. At this stage what is sought for by the petitioner is that he
may be given a chance to approach the respondent Bank seeking
waiver/reduction in the liability that is now sought to be enforced
against him.
3. Since the liability to the bank is about Rs.5 lakhs as at
present, the request of the counsel for the petitioner to defer
further proceedings unconditionally cannot be granted. Therefore, I
direct that the petitioner shall, within 10 days from today, remit
W.P.(C) No. 25376 OF 2008
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Rs.1 lakh and subject to such remittance, further proceedings
pursuant to Ext. P1 shall be kept in abeyance. It is also directed
that once remittance is made as above, it will be open to the
petitioner to approach the Asst. General Manager, Zonal Office,
Kottayam of the 1st respondent bank seeking waiver/reduction of
his liability in which case the same shall be considered and orders
shall be passed.
4. It is directed that if the petitioner makes remittance as
ordered above, until orders are passed on the representation to be
filed by him, further action shall be kept in abeyance and it will be
open to the above authority to specify the manner in which the
liability is to be discharged by the petitioner.
Writ petition is disposed of as above.
ANTONY DOMINIC
JUDGE
jan/-