IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 19TH DECEMBER 2011 / 28TH AGRAHAYANA 1933 WP(C).No. 33810 of 2011(A) -------------------------------------- CRMP.7719/2011 of C.J.M.,THRISSUR ................................................................. PETITIONER(S): --------------------- 1. MOHANAN, S/O.KRISHNAN, ANAKKATHIPARAMBIL HOUSE, EDATHIRINJI VILLAGE, EDATHIRINJI DESOM, MUKUNTHAPURAM TALUK. 2. HEMA @ HEMAMALINI, W/O.MOHANAN, ANAKKATHIPARAMBIL HOUSE, EDATHIRINJI VILLAGE, EDATHIRINJI DESOM, MUKUNTHAPURAM TALUK. BY ADV. SRI.SREELAL N.WARRIER SRI.C.DILIP RESPONDENT(S): ------------------------ 1. THE AUTHORISED OFFICER APPOINTED UNDER THE PROVISIONS OF SARFAESI ACT, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD., TUDA ROAD, KOVILAKATHUPADAM, THIRUVAMBADY P.O., THRISSUR-680 022. 2. THE MANAGER, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD., IRINJALAKKUDA BRANCH, IRINJALAKKUDA, PIN-680 125. BY GOVERNMENT PLEADER SMT. SOBHA ANNAMMA EAPEN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: SD WPC NO. 33810/2011 APPENDIX PETITIONER(S) EXHIBITS EXHIBIT P1: TRUE PHOTO COPY OF RELEVANT PAGE OF THE PASS BOOK DATED 30/8/2010 SHOWING THE DETAILS OF LOAN AVAILED BY the 1ST PETITIONER. EXHIBIT P2: TRUE PHOTO COPY OF RELEVANT PAGE OF THE PASS BOOK DATED 30/8/2010 SHOWING THE DETAILS OF LOAN AVAILED BY THE 2ND PETITIONER. EXHIBIT P3: TRUE COPY OF THE SALE DEED NO.2417/2000 DATED 20/11/2000 OF IRINJALAKKUDA SRO. EXHIBIT P4: TRUE PHOTO COPY OF THE NOTICE DATED 19/5/2011 ISSUED BY THE 1ST RESPONDENT TO THE FIRST PETITIONER. EXHIBIT P5: TRUE COPY OF THE NOTICE DATED 1/12/2011 ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENTS' EXHIBITS NIL // TRUE COPY // P.A. TO JUDGE SD S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.33810 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 19th day of December, 2011 J U D G M E N T The petitioners are aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay off the amounts in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioners in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioners to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 01.02.2012. Every W.P.(C)No.33810 of 2011 -2- 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/