The petitioner was the owner of the vehicle bearing No. KL- 14-E-9585, over which hypothecation was created in favour of the 2nd respondent in view of the financial assistance availed from the said respondent. Admittedly, there occurred some default in satisfying the tax due under the 'Kerala Motor Vehicle Taxation Act'.
2. The case of the petitioner is that, the vehicle was repossessed by the 2nd respondent because of the default in satisfying the monthly instalments. Absolutely no document has been produced before this Court to have any inference in this regard.
3. Learned counsel for the petitioner submits that, the petitioner has already approached the 1st respondent by filing Exts.P1 and P3. It is stated that the amount now demanded to be satisfied as per Ext.P2 is Rs.1,87,670/- with further interest and such other charges for the period from 01.01.2014 to 30.09.2014. It is also submitted that, that the petitioner does not intend to WP(c). No.26882 of 2014 2 dispute the liability and he is ready to satisfy the same, for which some breathing time is required by way of reasonable instalments.
4. Heard the learned Government Pleader as well.
5. Considering the facts and circumstances, the petitioner is set at liberty to clear the entire liability by way of 'six' equal monthly instalments, the first of it shall be effected on or before the 30th October, 2014, followed by similar instalments, to be effected on or before the 30th 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 respondent Bank 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.
Sd/-
P.R. RAMACHANDRA MENON, JUDGE.
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