IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 28194 of 2008(F)
1. P.SHAMSUDHEEN, S/O.ABDUL RAHIMAN,
... Petitioner
Vs
1. THE TIRUR URBAN CO-OPERATIVE BANK LTD.,
... Respondent
2. THE TIRUR URBAN CO-OPERATIVE BANK LTD.,
For Petitioner :SRIC.M.MOHAMMED IQUABAL
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :23/09/2008
O R D E R
Thottathil B. Radhakrishnan, J.
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W.P.(C)No.28194 of 2008
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Dated this the 23rd day of September, 2008.
JUDGMENT
Petitioner availed a loan, but failed to repay
it. Respondents, therefore, initiated action under
the SARFAESI Act. The loan is defaulted. The
outstandings have accrued. No sustainable issue is
pointed out in challenge of the proceedings. Even
in Ground-B, it is stated that the petitioner is
not disputing the liability. Petitioner has
remitted an amount of Rs.1,00,000/- after the
issuance of Section 13(2) notice. Under such
circumstances, giving up all other contentions and
the right of the petitioner to move other statutory
bodies or courts challenging the impugned
proceedings, learned counsel for the petitioner
confines his submission to a request that the
petitioner may be given an opportunity to wipe off
the outstandings.
WPC28194/08
-:2:-
Having heard the learned counsel for the
parties, repelling all other contentions, this writ
petition is ordered directing that if the
petitioner pays off the entire remaining
outstandings in five equal monthly instalments,
payable on the 15th of every month, commencing from
October, 2008, the impugned sale shall stand
deferred. If the petitioner fails to pay the
instalments as aforesaid, the benefit of this
judgment will stand recalled automatically and the
respondents will be at liberty to forthwith proceed
with distress action.
Thottathil B.Radhakrishnan,
Judge.
sl.