IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 9TH JULY 2008 / 18TH ASHADHA 1930 WP(C).No. 17559 of 2008(M) -------------------------- PETITIONER: ------------ ABDUL LATHEEF, S/O.MUHAMMED, PUTHENVEETTIL HOUSE, KODAKKAD P.O. THIROORANGADI, MALAPPURAM DISTRICT. BY ADV. SRI.UNNI. K.K. (EZHUMATTOOR) RESPONDENTS: ------------- 1. THE MANAGER, STATE BANK OF INDIA, RASMECC, KALLAI, KOZHIKODE - 673 003. 2. BANK OF INDIA, REP: BY THE MANAGER, RASMECC, KALLAI, KOZHIKODE - 673 003. 3. THE REGIONAL MANAGER, STATE BANK OF INDIA, KOZHIKODE. BY ADV. SRI.V.B.HARI NARAYANAN - R1 TO R3 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 17559 / 2008 APPENDIX PETITIONER'S EXHIBITS:- EXHIBIT P1 : TRUE PHOTOCOPY OF THE NOTICE DATED 7/11/2007. EXHIBIT P2 : TRUE PHOTO COPY OF THE APPLICATION FOR ONE TIME SETTLEMENT SUBMITTED BY THE PETITIONER BEFORE THE 1st RESPONDENT. EXHIBIT P3 : TRUE PHOTO COPY OF THE DISABILITY CERTIFICATE ISSUED BY THE MEDICAL BOARD, HEALTH SERVICE DEPARTMENT, GOVERNMENT OF KERALA. EXHIBIT P4 : TRUE PHOTO COPY OF THE NOTICE DATED 9/04/2008. /TRUE COPY/ P.A. TO JUDGE scm S.SIRI JAGAN, J ================== W.P (C) .No.17559 of 2008 ================== Dated this the 9th 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 initiated by the respondents for coercive recovery of loan amounts due from the petitioner to the Bank. However, now the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks permission to pay off the amounts in installments. I have heard the learned Standing Counsel appearing for the Bank who opposes the same. According to him, several opportunities have been granted to the petitioner, which the petitioner has not availed of and therefore, the petitioner is not entitled to any reliefs in the matter. After having heard both sides. I am of opinion that petitioner can be given some indulgence to pay off amounts W.P (C) .No.17559 of 2008 - 2 - in installments. Accordingly, the writ petition is disposed of with the following directions. The petitioner shall pay an amount of Rs. 1.5 lakhs within one month from today. The balance amount shall be paid in six equal monthly installments starting from 1.10.2008. Every subsequent installment shall be paid on the first working day of every succeeding month. If the petitioner pays 1.5 lakhs and the installments on the due dates without fail, coercive proceedings shall be kept in abeyance. If the petitioner fails in payment of either Rs. 1.5 lakhs or any of the subsequent installments as directed above, 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 rhs