IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 19350 of 2008(C)
1. T.GIRIJA, W/O.DUARI, GIREESH BHAVAN,
... Petitioner
Vs
1. THE MANAGER, VIJAYA BANK,
... Respondent
2. THE CHIEF JUDICIAL MAGISTRATE,
For Petitioner :SRI.M.R.SARIN
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :27/06/2008
O R D E R
ANTONY DOMINIC, J
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W.P.(C).NO.19350/2008
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Dated this the 27th day of June, 2008
JUDGMENT
Petitioner is facing proceedings under the
Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act. The Bank has also
obtained an order Section 14 of the Act. It is at this stage
the writ petition has been filed.
2. Counsel has not raised any arguments on the merits
of the case but is only seeking an instalment facility to
discharge the debt.
3. Heard the standing counsel appearing on behalf of
the Bank also.
4. It is pointed out that about 3.5 lakhs is due from
the petitioner and that she has been a chronic defaulter
compelling the Bank to take coercive action.
2
Since, the petitioner seeks only an instalment facility to
discharge the liability, and to avoid distress sale of the
property mortgaged the writ petition is disposed of as
follows;
i. Before 20th July, 2008, out of the amount that is due
from the petitioner, she shall remit Rs.1 lakh with the
respondent. Subject to payment as above, further coercive
action against the petitioner shall be kept in abeyance.
ii. It is directed that balance amount due shall be paid
in six equal monthly instalments. First instalment shall be
paid on or before 20th August, 2008 and the subsequent
instalments shall be paid on or before 20th of every
succeeding month. It is clarified that in case the petitioner
commits default in paying any instalments directed as
above, it will be open to the bank to continue the
proceedings already initiated, without any further notice.
Writ Petition is disposed of as above.
ANTONY DOMINIC
JUDGE
vi.
3