IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 12TH OCTOBER 2011 / 20TH ASWINA 1933 WP(C).No. 26137 of 2011(N) -------------------------- PETITIONER(S): --------------- ANITHA.S.PONNAMBATH,W/O.SURESH RAGHAVAN, ROYAL CASTLE,MADUKKATH,P.O.VARAM,KANNUR, KANNUR DISTRICT. BY ADV. SRI.AJITH KRISHNAN RESPONDENT(S): --------------- 1. FEDERAL BANK LTD,REPRESENTED BY GENERAL MANAGER,ALUVA,ERNAKULAM-683 003. 2. THE ASSISTANT GENERAL MANAGER/ AUTHORISED OFFICER, FEDERAL BANK LTD, ADHITHYA TOWERS,OPP:CIVIL STATION,SOUTH BAZAR, KANNUR-670 002. 3. BRANCH MANAGER,FEDERAL BANK LTD, SOUTH BAZAR,KANNUR-670 002. R-1 BY ADV. SRI.PRAVEEN K. JOY THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 12/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 26137 of 2011(N) APPENDIX PETITIONERS EXHIBITS :- EXT.P1 : TRUE COPY OF THE POSSESSION NOTICE DATED 15-09-2011 ISSUED BY THE 2ND RESPONDENT. RESPONDENTS EXHIBITS :- NIL. //TRUE COPY// P.A TO JUDGE amk. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.26137 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 12th day of October, 2011 J U D G M E N T The petitioner is 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 petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount 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 petitioner 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 petitioner to pay off the balance amount due in 10 (ten) equal monthly W.P.(C)No.26137 of 2011 -2- instalments starting from 01.11.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits 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/