IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 22ND DECEMBER 2011 / 1ST POUSHA 1933 WP(C).No. 34519 of 2011(L) -------------------------- PETITIONER(S): --------------- KISHORE K.G., AGED 40 YEARS, S/O K. GOPALAN, KUNDANIGATHU HOUSE, KILLANNUR, THRISSUR. BY ADV. SRI.N.K.MOHANLAL RESPONDENT(S): --------------- AUTHORISED OFFICER, BANK OF MAHARASHTRA, THRISSUR, PIN - 680 609. BY ADV. SRI.BIJU BALAKRISHNAN,SC,BANK OF MAHARASHTRA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: SD WPC NO. 34519/2011 APPENDIX PETITIONER'S EXHIBITS P1 COPY OF POSSESSION NOTICE DATED 21.10.2011 UNDER SECTION 13 (2) OF SARFAESI ACT. RESPONDENT'S EXHIBITS NIL // TRUE COPY // P.A. TO JUDGE SD S.SIRI JAGAN, J. ================== W.P.(C).No. 34519 of 2011 ================== Dated this the 22 nd day of December, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondent for recovery of loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in ten equal monthly instalments starting from 16.1.2012. Every subsequent instalment shall be paid on the first working day after 15 th of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, it would be open to the respondent to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge