IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 4TH APRIL 2007 / 14TH CHAITHRA 1929 WP(C).No. 11753 of 2007(Y) -------------------------- PETITIONER: ------------ T.A.MEENAKSHI AMMA, D/O.ITHUKUTTY AMMA,A GED 98 YEARS, ADIYIL VALAPPIL HOUSE, KARAKKAD, GURUVAYOOR, THRISSUR DISTRICT. BY ADV. SRI.P.RAMACHANDRAN RESPONDENTS: ------------- THE AUTHORISED OFFICER, STATE BANK OF INDIA, GURUVAYOOR BRANCH, EAST NADA, GURUVAYOOR, THRISSUR DISTRICT. BY SHRI.P.V.SURENDRANATH, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/04/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================================= W.P.(C).No.11753 of 2007 ================================== Dated this the 4th day of April, 2007 J U D G M E N T The petitioner challenges the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent for default in repayment of loan amounts taken on the strength of the mortgaged security interest, which is proceeded against. All what the petitioner now wants is only three months' time, within which time, she undertakes to repay the entire amounts due. 2. The learned counsel for the standing counsel appearing for the respondent stoutly opposes the prayer of the petitioner. Accoridng to him, notice was issued as early as on 25.11.2006 and the petitioner has not paid any amount till date. However, I feel that some indulgence can be shown to the petitioner, since the petitioner herself undertakes to repay the entire amounts w.p.c.11753/07 2 within three months. 3. In the above circumstances, this writ petition is disposed of with the following directions: The petitioner shall pay an amount of Rs.75,000/- within one month and the balance amount within a period of further two months. If the petitioner complies with the above directions, further proceedings now initiated shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions, the respondent would be free to continue the proceedings now initiated without having to issue any fresh notice or proceedings in that regard. Needless to say, the amount would carry interest till the date of discharge of the entire loan amount. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge. w.p.c.11753/07 3