IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 6526 of 2009(I)
1. SURESH BABU, S/O.KRISHNAN NAIR,
... Petitioner
2. SREEJA, W/O.SURESH BABU, VADAKKEDATH
Vs
1. STATE BANK OF TRAVANCORE,KALLAI BRANCH,
... Respondent
For Petitioner :SRI.P.V.KUNHIKRISHNAN
For Respondent : No Appearance
The Hon'ble MR. Justice K.M.JOSEPH
Dated :02/03/2009
O R D E R
K.M.JOSEPH, J.
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W.P.(C) No. 6526 of 2009-I
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Dated, this the 2nd day of March, 2009
J U D G M E N T
Steps under Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002 have been taken against the petitioners.
2. I heard the learned counsel for the petitioners
and learned standing counsel for the Bank. Petitioners seek
instalment facility to pay off the amount.
3. Having considered the matter, the writ petition
is disposed of as follows:
Proceedings against the petitioners will be kept in
abeyance on condition that the petitioners remit Rs.1,25,000/-
(Rupees one lakh and twenty five thousand only) on or before
31.3.2009 and pay all further amounts remaining to be paid
with due interest in 7 equal monthly instalments. The first
instalment shall be paid on or before 01.05.2009 and the
remaining instalments on or before the Ist working day of
every succeeding month. If the petitioners do not pay Rs.1.25
WPC No. 6526/2009 -2-
lakhs or any other instalment, they will loose the benefit of
this judgment and the respondent will be free to proceed
against the petitioners in accordance with law.
(K.M.JOSEPH)
JUDGE.
MS
