Petitioner challenges Ext.P1 sale proclamation issued by the 3rd respondent in a proceedings pending before the Debt Recovery Tribunal. Although in the writ petition, various contentions are raised, the petitioner limits his prayer to a grant of instalment facility in order to satisfy the debt due to the 1st respondent bank. A counter affidavit has been filed on behalf of respondents 1 and 2 denying the contentions in the writ petition. 2. At the time of hearing, the Standing counsel appearing on behalf of the 1st respondent submits that the petitioner can be permitted to pay the amount in instalments subject to paying a substantial portion of the dues along with the first instalment. On a consideration of the facts and circumstances of the case, I dispose of the writ petition with the following directions:
(1) The petitioner shall pay an amount of Rs.15 lakhs within a period of one month to the 1st respondent W.P.(C).No.11758/2014 2 towards the liability shown in Ext.P1 which is stated to be Rs.71 lakhs as of today.
(2) The petitioner shall remit the balance amount of Rs.56 lakhs in ten equal monthly instalments commencing from 1st July, 2014 to the 1st respondent.
(3) Proceedings pursuant to Ext.P1 shall be kept in abeyance in the meanwhile subject to the condition that if the petitioner defaults in the payment of any instalment, then the proceedings as per Ext.P1 shall continue unabated from the stage at which it currently stands.
A.K.JAYASANKARAN NAMBIAR JUDGE prp