IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 14TH JULY 2008 / 23RD ASHADHA 1930 WP(C).No. 21164 of 2008(T) -------------------------- CMP.1391/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER: ------------ 1. C. VIJAYAKUMAR, S/O.K.CHANDRASEKHARAN, AGED 47 YEARS, V.G'S RESIDENCE, JAWAHAR COLONY, EX-COLONY.P.O, THIRUVANANTHAPURAM-695 62. 2. R. GIRIJA KUMARI, W/O.VIJAYA KUMAR, V.G'S RESIDENCE, JAWAHAR COLONY, EX-COLONY.P.O, THIRUVANANTHAPURAM. BY ADV. SRI.BINOY VASUDEVAN RESPONDENTS: ------------- 1. STATE BANK OF TRAVANCORE, MADATHARA BRANCH, MADATHARA, THIRUVANANTHAPURAM REP. BY ITS MANAGER. 2. AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, REGION 3, ZONAL OFFICE, SANTHI NAGAR, THIRUVANANTHAPURAM. BY ADV. SRI. R.S. KALKURA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J ============== W.P.(C).No. 21164 OF 2008 ==================== Dated this the 14th day of July, 2008. 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. However, for the present, petitioner would be satisfied with facility to pay the amounts in instalments. 2. This is opposed by the counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay an amount of Rs. 75,000/- within one month from today and the balance amounts shall be paid in five equal monthly instalments starting from 1.10.2008. Evey subsequent installment shall be paid on the 1st working day of every succeeding month. If the petitioner pays the initial amount and the instalments in time without default, further coercive proceedings shall be kept in abeyance. However, if the petitioner commits default in payment of either the Rs. 75,000/- or any of W.P.(C).No. 21164 OF 2008 2 the subsequent 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. S.SIRI JAGAN, JUDGE bkn/-