IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 8TH AUGUST 2011 / 17TH SRAVANA 1933 WP(C).No. 21445 of 2011(E) ---------------------------------------- PETITIONER(S): ------------------------ SHEEBA, AGED 40, W/O. DANIEL, PULIKOTTIL HOUSE, ERAVIMANGALAM P.O., THRISSUR DISTRICT. BY ADV. SRI.G.SREEKUMAR (CHELUR) SMT.PREETHY KARUNAKARAN SRI.K.RAVI (PARIYARATH) RESPONDENT(S): -------------------------- 1. THE TRICHUR URBAN CO-OPERATIVE BANK LTD, MISSION QUARTERS, REP. BY ITS BRANCH MANAGER, NADATHARA BRANCH THRISSUR, THRISSUR, PIN-680 751. 2. THE AUTHORIZED OFFICER, THE TRICHUR URBAN CO-OPERATIVE BANK LTD., MISSION QUARTERS, THRISSUR, P B NO.86, PIN-680 001. R1 & R2 BY ADV.SRI.C.D.DILEEP,SC, URBAN CO-OPERATIVE BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.21445/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE ISSUED TO THE PETITIONER FROM THE FIRST RESPONDENT DATED 21/6/2010. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 21445 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 8th day of August, 2011. J U D G M E N T The petitioner challenges proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for recovery of loan amounts due from the petitioner to the respondents. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to regularise the loan account by paying the defaulted instalments of repayment of loan and to continue to pay the instalments of repayment of loan as per the original loan agreement. This is opposed by the counsel for the respondents . 2. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the disputed defaulted instalments of loan with interest within one month. if the petitioner pays the defaulted instalments of loan with interest as directed above, the respondents shall regularise the loan account of the petitioner and allow her to continue to pay instalments of repayment of loan as per the original agreement on due dates. If the petitioner pays the defaulted amounts as well as future instalments on due dates, the recovery proceedings shall be kept in abeyance. W.P(C) No. 21445 of 2011 -: 2 :- However, if the petitioner commits default in payment of any one instalment, it would be open to the respondents to continue recovery proceedings without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/