JUDGMENT

Dated this the 18th day of December, 2023 The petitioner is running a textile business in the name and style Indian Tex at Kottarakara. He had availed a cash credit facility of ₹1,50,00,000/- from the 1st respondent bank in the year 2016.

2. The petitioner had remitted the amount due to the respondent-Bank without any default. While so due to continuous loss and out brake of Covid 19 pandemic put the petitioner into acute paucity of funds. The respondent -Bank proceeded against the petitioner for realization of amount due to the Bank under the SARFAESI Act . The Advocate Commissioner appointed by the Chief Judicial Magistrate Court, Kollam has issued Ext.P1 notice under the SARFAESI Act . The petitioner is not in a position to remit the amount in lumsum due to financial stringency.

3. The petitioner is taking earnest effort to clear of the liability. The petitioner is ready and willing to remit the amount due to the respondent-Bank. Therefore, the petitioner seeks to direct the respondent-Bank to allow the petitioner to remit the amount due to the respondent-Bank in installments.

4. The Standing Counsel entered appearance on behalf of respondents 1 and 2 and opposed the writ