IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 28TH SEPTEMBER 2011 / 6TH ASWINA 1933 WP(C).No. 25732 of 2011(N) -------------------------- PETITIONER : ------------ RAJASEKHARAN.B., S/O.VASU, AGED 58 YEARS, ALUMPARAMBIL HOUSE, KALARCODE, ALAPPUZHA. BY ADVS. SRI.P.C.CHACKO(PARATHANAM) SRI.P.R.RAJA RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., ALAPPUZHA P.O., ALAPPUZHA DISTRICT. 2. THE BRANCH MANAGER, ALAPPUZHA MAIN BRANCH, THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, ALAPPUZHA. R1 & R2 BY ADV. SRI. P.K. VIJAYA MOHAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 25732 of 2011(N) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 TRUE COPY OF THE NOTICE DATED 16.8.2010 ISSUED BY THE 1ST RESPONDENT BANK TO THE PETITIONER. EXT.P2 TRUE COPY OF THE NOTICE DATED 6.9.2011 ISSUED BY THE ADVOCATE SRI.SAJILA.S. IN CMP NO.4082/2011 OF THE CHIEF JUDICIAL MAGISTRATE, ALAPPUZHA. EXT.P3 TRUE COPY OF THE REPRESENTATION FILED BY THE PETITIONER BEFORE THE 1ST RESPONDENT DATED 26.9.2011. RESPONDENT'S EXHIBITS : NIL //TRUE COPY// P.S. TO JUDGE Mn S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 25732 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 28th day of September, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the respondents. The respondents have initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the same, which is under challenge in this writ petition. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with a direction to the respondents to permit the petitioner to pay off the amounts due in 10 equal monthly instalments starting from 1.11.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, 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. Tds/