IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 5TH JULY 2011 / 14TH ASHADHA 1933 WP(C).No. 17083 of 2011(I) ------------------------------------ CRMP.4510/2010 of C.J.M.,THRISSUR .................... PETITIONER(S): ------------------------ BIJU PAPPACHAN, AGED 31, S/O. PAPPACHAN T.O., THALIYAN HOUSE, KORATTY (E) P.O., THIRUMUDIKKUNNU, THRISSUR DISTRICT. BY ADV. SRI.PRAVEEN K. JOY RESPONDENT(S): -------------------------- STATE BANK OF INDIA, CHALAKKUDY TOWN BRANCH, REPRESENTED BY CHIEF MANAGER (RCPC) & AUTHORISED OFFICER, REGIONAL BUSINESS OFFICE, BHARATHAKSHAMAN BUILDING, ST.THOMAS COLLEGE ROAD, TRICHUR-5. BY ADV. SRI.P.V.SURENDRANATH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.17083/2011 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE PETITION IN CRL.MP.4510/2010 ON THE FILES OF CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR. P2:- COPY OF THE REGISTRATION CERTIFICATE OF VEHICLE WITH NO.KL.8AG. 2524. P3:- COPY OF THE LETTER DT. 17.6.2011 SUBMITTED BEFORE THE RESPONDENT. RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.S. TO JUDGE tss S. SIRI JAGAN, J. ........................................... W.P.(C).NO.17083 OF 2011 ............................................. Dated this the 5th day of July, 2011. JUDGMENT The petitioner is a defaulter in repayment of loan amounts taken from the respondent Bank. For recovery of the amounts due, the respondent has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. That is under challenge in this writ petition. But, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks some time to pay off the amounts. This is opposed by the counsel for the respondent Bank. However taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay an amount of Rs.50,000/= within one month from today. The balance amount shall be paid in five equal monthly instalments starting from 1.9.2011. Subsequent instalments shall be on the first working day of every succeeding month. If the petitioner pays the initial amount and the instalments on due dates : 2 : W.P.(C).NO.17083 OF 2011 without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of either the initial amount or any one of the instalments, it would be open to the respondent Bank to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/= S. SIRI JAGAN, JUDGE. /true copy/ P.S. to Judge cl