This writ petition has been filed challenging Ext.P4, a notice issued by the State Bank of Travancore intimating the petitioner that if the amount outstanding has not been paid with reference to the gold loan, the same will be sold in auction. Petitioner seeks for three months time to pay the entire loan to get the ornaments released as shown in Ext.P1.
2. By interim order dated 07/10/2014, this Court had directed the petitioner to remit Rs.50,000/- within a period of two weeks. Learned Standing Counsel appearing for the respondent bank submits that the petitioner had remitted an amount of Rs.50,000/- on 20/10/2014 and the balance amount due is Rs.3,25,044/-.
3. Having regard to the aforesaid submission, I am of the view that the writ petition can be disposed of since the only request made by the petitioner is for three months time to settle the liability. Accordingly, this writ petition is disposed of with the following directions:
i) Petitioner shall discharge the entire liability within a period of two months and fifteen days from today.
ii) If the amount is not paid, as directed above, the bank shall be entitled to proceed in accordance with law.
(sd/-) (A.M.SHAFFIQUE, JUDGE) jsr