IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 9268 of 2008(C)
1. V.R. RAJASEKHARAN NAIR,AGED 46 YEARS
... Petitioner
Vs
1. STATE BANK OF INDIA,REPRESENTED BY ITS
... Respondent
2. THE AUTHORISED OFFICER,
For Petitioner :SRI.P.B.SAHASRANAMAN
For Respondent :SRI.GEORGE THOMAS(MEVADA), SC, SBI
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :25/03/2008
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) NO. 9268 OF 2008 C
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Dated this the 25th day of March, 2008
J U D G M E N T
The petitioner against whom proceedings have been initiated by the
Bank under the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act has approached this court challenging
Ext.P2, a sale notice published by the Bank. It is stated on behalf of the
Bank that about Rs. 8 lakhs is due from the petitioner and although the
petitioner has paid Rs. 4 lakhs after the initiation of the proceedings, the
balance remains unpaid. The counsel only seeks an instalment facility for
discharging the balance liability.
2. I heard the standing counsel for the Bank as well in this
respect.
3. Having regard to the submissions made, I dispose of this writ
petition directing that the petitioner shall pay the balance amount due to
the Bank in three equal monthly instalments, first of which will be payable
before 31st of March, 2008 and the second and third instalments will be
payable before 30th of April and 31st of May 2008. Subject to payment as
WPC 9268/08
:2 :
above, further proceedings will stand deferred and in case the petitioner
commits default, the Bank will be free to continue the proceedings that are
already initiated.
Writ petition is disposed of as above.
ANTONY DOMINIC,JUDGE.
Rp