IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 25TH JULY 2011 / 3RD SRAVANA 1933 WP(C).No. 17350 of 2011(P) ------------------------- PETITIONER(S): ----------------------- 1. M.ROBERT BROOSE, AGED 40 YEARS, S/O.MATHIAS S., PONGUVILA VEEDU, ANCHUMARUMKALA, VELLARADA P.O., THIRUVANANTHAPURAM. 2. T.R.SUNITHA, AGED 38 YEARS, W/O.M.ROBERT BROOSE, PONGUVILA VEEDU, ANCHUMARUMKALA, VELLARADA P.O., THIRUVANANTHAPURAM. BY ADV. SRI. SABU THOZHUPPADAN RESPONDENT(S): ------------------------- 1. THE CHIEF MANAGER, (AUTHORISED OFFICER), FEDERAL BANK LTD., REGIONAL OFFICE, THIRUVANANTHAPURAM-695001. 2. FEDERAL BANK LTD., CHEMBER BRANCH, CHEMBUR, OTTASEKHARAMANGALAM P.O., THIRUVANANTHAPURAM, REPRESENTED BY ITS BRANCH MANAGER-695125. 3. THE SUB INSPECTOR OF POLICE, VELLARADA POLICE STATION, VELLARADA, THIRUVANANTHAPURAM-695505. R1 & R2 BY ADVS. SRI.A.ANTONY SMT.LEELAMMA ANTONY R3 BY SR.GOVT. PLEADER SRI. C.K. GOVINDAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 17350 of 2011(P) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF C.M.P. NO. 4716/2010 OF CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. EXT.P2 : COPY OF NOTICE DATED 17/6/2011 ISSUED BY ADV. PRASANATH V.K. TO THE 3RD RESPONDENT. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.A. TO JUDGE Mn S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.17350 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 25th day of July, 2011 J U D G M E N T The petitioners are defaulters in repayment of loan amounts due from them to the respondents 1 & 2. The respondents 1 & 2 have initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) for recovery of the amount. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay off the amount in instalments. 2. This is opposed by the counsel for the respondents 1 & 2. 3. Having heard both sides, I dispose of this writ petition with the following directions: The petitioners shall pay the balance amount due after adjusting Rs.75,000/- paid as per the interim order dated 30.06.2011 in 10 (ten) equal monthly instalments starting W.P.(C)No.17350 of 2011 -2- from 01.09.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioners pay the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioners commit default in payment of any one of the instalments, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/