1 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED:24.06.2011 CORAM: THE HONOURABLE MS.JUSTICE K.SUGUNA AND THE HONOURABLE MR.JUSTICE A.ARUMUGHASWAMY W.P.(MD).No.1488 of 2011 and M.P.No.1 of 2011 K.Parthipan : Petitioner Vs. 1.The Chief Judicial Magistrate, Thanjavur, Kumbakonam. 2.REPCO Home Finance Limited, Rep by its Authorized Signatory and Branch Manager A.Thilagaraj, First Floor, 71, Mutt Street, Kumbakonam 612 001. : Respondents PRAYER: Writ Petition is filed under Article 226 of the Constitution of India praying to issue a Writ of Certiorari calling for the records of the first respondent dated 05.01.2011 made in Crl.M.P.No.878 of 2010 and quash the same. For Petitioner : Mr.D.Selvanayagam For Respondents 2 : Mr.Pala Ramasamy O R D E R ********** [Order of the Court was made BY A.ARUMUGHASWAMY,J] Challenge in this Writ Petition is to the order dated 05.01.2011 made in Crl.M.P.No.878 of 2010, on the file of the learned Chief Judicial Magistrate, Thanjavur. 2. The case of the petitioner is that he applied for loan before the second respondent and the second respondent also sanctioned the loan on 22.12.2004. Initially, he was repaying the dues without any default. However, because of the unexpected event taken place, the petitioner is not in a position to re-pay the loan amount, due to the second respondent. Therefore, the second respondent classified the account of the petitioner as Non Performing Account with effect from 01.11.2005 and issued notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, [for short "the Act"] for the clearance of the entire loan amount. Thereafter, on the expiry of 60 days, on 10.02.2006, the second respondent issued notice under Section 13(4) of the Act. Thereafter, the second respondent filed Crl.M.P.No.878 of 2010 before the learned Chief https://hcservices.ecourts.gov.in/hcservices/ 2 Judicial Magistrate, Thanjavur, for taking possession of the property. The learned Chief Judicial Magistrate, by order dated 05.01.2011, appointed Advocate Commissioner for taking possession of the property. Challenging the same, the petitioner has come up with the present Writ Petition. 3. At the time of arguments, the learned counsel for the petitioner has submitted that the petitioner may be permitted to make the entire loan amount in two installments. 4. On the other hand, the learned counsel appearing for the second respondent has submitted that the petitioner has not re-paid the loan amount regularly. According to him, only on the expiry of 60 days time, the second respondent issued notice under Section 13(4) of the Act. Based on the above, the learned counsel for the second respondent has prayed for dismissal of the Writ Petition. 5. We have considered the above submissions made by the respective learned counsel and perused the records carefully. 6. Taking into consideration the amount payable by the petitioner, we are of the considered view that the request of the petitioner can be considered. Therefore, the petitioner is permitted to pay a sum of Rs.20,00,000/- [Rupees Twenty Lakhs] within a period of four weeks from today and the balance amount of Rs.19,00,000/- [Rupees Nineteen Lakhs] shall be paid by the petitioner within a period of four weeks thereafter. It is made clear that in the event of failure on the part of the petitioner to pay the said amount within the time stipulated in this order, the second respondent is at liberty to proceed as against the petitioner in accordance with law. It is also made clear that no further extension of time will be granted to the petitioner to pay the said amount. The Writ Petition is disposed of on the above terms. No costs. Consequently, connected Miscellaneous Petition is closed. NB Sd/- Assistant Registrar[Crl side] /True copy/ Sub Assistant Registrar To The Chief Judicial Magistrate, Thanjavur, Kumbakonam. +1 cc to Mr.Pala Ramasamy, Advocate SR.No.19958. ORDER MADE IN W.P.(MD).No.1488 of 2011 Dated:24.06.2011 2P/3C RPB 27.06.2011[I.T.] https://hcservices.ecourts.gov.in/hcservices/