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. 15824 of 2011(C) --------------------------------------- PETITIONER(S): ------------------------- 1. C.SIDHIQUE, S/O.SAIDALAVI, CHANTHURUTHY HOUSE, CHERIAPPARAPPUR, VETTAM, PALLIPPURAM. B.P.ANGADI, MALAPPURAM DISTRICT. 2. K.LAILA, W/O.C.SIDHIQUE, CHANTHURUTHY HOUSE, CHERIAPPARAPPUR, VETTAM, PALLIPPURAM. B.P.ANGADI, MALAPPURAM DISTRICT. BY ADVS. SRI.K.M.FIROZ SMT.M.SHAJNA RESPONDENT(S): ------------------------- 1. THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD, MALAPPURAM, REPRESENTED BY ITS GENERAL MANAGER, UPHILL, MALAPPURAM. 676 103. 2. UNION OF INDIA, REPRESENTED BY THE SECRETARY,(BANKING AND INSURANCE), DEPARTMENT OF ECONOMIC AFFAIRS, MINISTRY OF FIANCE, PARLIAMENT STREET, NEW DELHI-110 001. R1 BY ADVS.SRI.V.KRISHNA MENON, SMT.P.VIJAYAMMA, SMT.UMA GOPINATH, SRI.PILLAI JAYAPRAKASH RAVEENDRAN . R2 BY ADV. SRI.P.PARAMESWARAN NAIR,ASG OF INDIA FOR R2 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.15824/2011 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE POSSESSION NOTICE DTD. 8.6.2011 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS. P2:- COPY OF THE RECEIPT DTD. 2.3.2009 ISSUED BY THE IST RESPONDENT TO THE PETITIONERS. P3:- COPY OF THE RECEIPT DT.D 16.1.2010 ISSUED BY THE IST RESPONDENT TO THE PETITIONERS. RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.S. TO JUDGE tss S. SIRI JAGAN, J. ........................................... W.P.(C).NO.15824 OF 2011 ............................................. Dated this the 5th day of July, 2011. JUDGMENT The petitioners are the defaulters in repayment of loan amounts taken from the first respondent, who initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. The petitioners are challenging the same. The petitioners do not dispute the liability to pay or the quantum. They only seek instalment facility to pay off the amount. This is opposed by the counsel for the first respondent Bank, who submits that the petitioners are not entitled to any indulgence from court since the first respondent themselves have granted sufficient opportunity to the petitioners to pay off the amounts. 2. At the time of admission this Court passed the following interim order on 13.6.2011. “Urgent notice on admission to 1st respondent by speed post returnable within two weeks. Meanwhile the petitioners shall not be dispossessed pursuant to Ext.P1 notice if not already dispossessed subject to condition of the petitioners remitting a sum of Rs.50,000/= on or : 2 : W.P.(C).NO.15824 OF 2011 before 30.6.2011.” 3. It is admitted that on 3.6.2011 the amount has been paid. Taking into account the facts and circumstances of the case, I dispose of this writ petition with the following directions: The petitioners shall pay the balance amount necessary for making up the defaulted instalments within one month. On payment of the same, the first respondent shall regularise the loan account of the petitioners and allow the petitioners to continue payment of the loan amount in instalments in accordance with the original loan agreement. If the petitioners fail to comply with the above directions and fail to pay even one instalment as per the original loan agreement in future, it would be open to the first respondent to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/= S. SIRI JAGAN, JUDGE. cl /true copy/ P.S. to Judge