IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 11409 of 2009(U)
1. THANKAMANY.E., STAFF QUARTERS NO.1,
... Petitioner
2. VIJAYAN.B.J., STAFF QUARTERS NO.1,
Vs
1. HOUSING DEVELOPMENT FINANCE CORPORATION
... Respondent
2. BRANCH MANAGER,
For Petitioner :SRI.S.MOHAMMED AL RAFI
For Respondent : No Appearance
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :21/05/2009
O R D E R
P.R. RAMACHANDRA MENON J.
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W.P. (C) No. 11409 of 2009
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Dated, this the 21st day of May, 2009
JUDGMENT
The petitioners have approached this Court challenging the
proceedings taken by the respondents under the relevant provisions of
the SARFAESI Act. When the matter came up for consideration on
6.4.2009, it was adjourned to get instructions, simultaneously directing
the impugned proceeding to be kept in abeyance, on condition that the
petitioner paid a sum of Rs.50,000/- on or before 17.4.2009 and yet
another sum of Rs. 50,000/- on or before 16.5.2009. The learned
counsel appearing for the petitioner submits that because of some
unfortunate turn of events, the second installment stipulated to be paid
on or before 16.5.2009 could not be effected and that the petitioner is
intending to file a petition for extension for time in this regard.
2. After hearing both the sides, it is found fit and proper to have
the matter closed, of course taking of the interim order already passed
by this Court.
3. In the above circumstance, the petitioner is directed to pay the
sum of second installment of Rs.50,000/- ordered to be paid vide order
dated 6.4.2009 forthwith, at any rate on or before 23.5.2009.
Considering the submission made by the learned counsel appearing for
the respondent Bank that the total amount due is more than
WP (C) No. 11409 of 2009
: 2 :
Rs.5,00,000/-, the balance amount shall be paid by way of eight equal
monthly installments commencing from 20th of June, 2009. It is also
made clear that if any default is made in remitting the installments as
aforesaid, the Bank is at liberty to realise the entire amount by way of
lump sum.
The WP (C) is disposed of accordingly.
P. R. RAMACHANDRA MENON, JUDGE
kmd