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. 25717 of 2011(L) ---------------------------------- PETITIONER(S): ------------------- REJIKUMAR, AGED 56 YEARS, S/O. LATE UTHUPPU, ERAKKATTIL HOUSE, CHETTY STREET, KOTTAYAM - 1. BY ADVS. SRI.M.K.DILEEPAN SRI.K.B.VIPIN KUMAR RESPONDENT(S): -------------------- 1. H D F C BANK LIMITED, REPRESENTED BY ITS BRANCH MANAGER, S.L.PLAZA, PALARIVATTOM, KOCHI - 682 025. 2. AUTHORISED OFFICER, H D F C BANK LIMITED., S.L. PLAZA, PALARIVATTOM, KOCHI - 682 025. R1 BY ADV. SRI.T.RAJESH, SC, HDFC BANK LTD. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 25717/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF NOTICE ISSUED BY 2ND RESPONDENT TO PETITIONER DATED 22/07/2011. P2: COPY OF THE REPRESENTATION GIVEN BY PETITIONER TO 2ND RESPONDENT DATED 17/08/2011. P3: COPY OF REPLY GIVEN BY 2ND RESPONDENT TO PETITIONER DATED 26/08/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 25717 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 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/