The petitioner, his father, mother and brother were respondents in various Company Claim Petitions filed by the 1st respondent herein and that they were set ex parte. The petitioner and his family members did not contest the matter. Payment of a sum of Rs.1,69,200/- (Rupees One lakh sixty nine thousand and two hundred only) is evident from Ext.P2 receipt. The 3rd respondent has issued Ext.P1 series demand notices to the petitioner and his family, which made the petitioner to approach this Court by filing this writ petition.
2. The learned counsel appearing for the respondent Bank submits that an amount of Rs.3,48,852/ (Rupees Three lakhs forty eight thousand eight hundred and fifty two only) is due from the petitioner.
3. The learned counsel for the petitioner submits that steps are being taken, to have the liability cleared, for which some breathing time is sought for. It is stated that the petitioner does W.P.(C) No.28466 of 2014 2 not intend to dispute the liability.
After hearing both the sides, the petitioner is directed to satisfy the liability, by way of 'ten' equal monthly instalments, the first of it shall be effected on or before the 15th of November, 2014, followed by similar installments, to be effected on or before the 15th of the succeeding months. Subject to this, the recovery proceedings shall be kept in abeyance, for the time being. It is made clear that, if any single default is committed with regard to the satisfaction of the liability as above, it will be open for the respondents to proceed with further steps for realization of the entire amount in lump, by pursuing such steps from the stage where it stands now.
The writ petition is disposed of.
P.R. RAMACHANDRA MENON, JUDGE sp