MAYA Vs. CHIEF MANAGER (AUTHORISED OFFICER)

JUDGEMENT

(1.) Heard the learned counsel for the petitioner and the learned counsel for the respondent Bank.

(2.) Petitioner was a guarantor of a loan availed of by one Mr.Basheerkutty. Default was committed, as a result, SARFAESI proceedings are initiated and the property mortgaged by the petitioner is scheduled to be sold on 25/3/13. It is at that stage this writ petition is filed and the request made is to allow an instalment facility.

(3.) However, learned counsel for the Bank points out that the liability is more than Rs. 30 lakhs and that the petitioner is filing this belated petition without any bona fides. Irrespective of the contentions, if the petitioner is willing to make a substantial payment on or before 25/3/13, I see no reason to decline the prayer made.