IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 26TH SEPTEMBER 2011 / 4TH ASWINA 1933 WP(C).No. 25304 of 2011(K) -------------------------- PETITIONER(S): --------------- V.RAMANANDA PRABHU, KRISHNA PRABHU BUILDING, BASIN ROAD, KOCHI-682031. BY ADV. SRI.DINESH R.SHENOY SRI.G.HARIKRISHNAN (TRIPUNITHURA) RESPONDENT(S): --------------- 1. BANK OF INDIA, WILLINGTON ISLAND BRANCH, BRISTOW ROAD, KOCHI-682003, REPRESENTED BY SENIOR BRANCH MANAGER. 2. BANK OF INDIA, ZONAL OFFICE, KERALA ZONE, KALOOR TOWERS, KALOOR- KADAVANTHRA ROAD, KOCHI-17, REPRESENTED BY CHIEF MANAGER AND AUTHORISED OFFICER-682017. 3. THE GENERAL MANAGER, CONSUMER DIVISION, BANK OF INDIA, STAR HOUSE, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI-400 051. ADV. SRI. P.P. JOY - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/09/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 25304 of 2011(K) APPENDIX PETITIONER(S) EXHIBITS EXHIBIT P1: TRUE PHOTOCOPY OF THE LETTER DATED 8-5-2010 ISSUED BY THE 1ST RESPONDENT. EXHIBIT P2: TRUE PHOTOCOPY OF THE LETTER DATED 15-6-2010 ISSUED BY THE 1ST RESPONDENT. EXHIBIT P3: TRUE PHOTOCOPY OF THE STATEMENT OF ACCOUNTS OF PETITIONER'S LOAN ACCOUNT NO.2127. EXHIBIT P4: TRUE PHOTOCOPY OF THE NOTICE DATED 25-1-2011 ISSUED BY THE 2ND RESPONDENT. EXHIBIT P5: TRUE PHOTOCOPY OF THE LETTER DATED 25-3-2011 ISSUED BY THE PETITIONER TO THE RESPONDENT. EXHIBIT P6: TRUE PHOTOCOPY OF THE LETTER DATED 11-4-2011 ISSUED BY THE 2ND RESPONDENT.(RECEIVED ON 21-4-2011). EXHIBIT P7: TRUE PHOTOCOPY OF THE LETTER DATED 25-4-2010 ISSUED BY THE PETITIONER. EXHIBIT P8: TRUE PHOTOCOPY OF THE PETITION DATED 4-6-2011 SUBMITTED BY THE PETITIONER BEFORE THE 3RD RESPONDENT. EXHIBIT P9: TRUE PHOTOCOPY OF THE STATEMENT OF ACCOUNTS IN RESPECT OF LOAN ACCOUNT NO.2127 DATED 24-5-2011. EXHIBIT P10: TRUE PHOTOCOPY OF THE STATEMENT OF ACCOUNTS IN RESPECT OF LOAN ACCOUNT NO.2127 DATED 13-7-2011. EXHIBIT P11: TRUE PHOTOCOPY OF THE COMPLAINT DATED 27-5-2011 SUBMITTED BY THE PETITIONER BEFORE THE ASSISTANT COMMISSIONER OF POLICE, COCHIN CITY. RESPONDENTS' EXHIBITS: NIL TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.25304 OF 2011 ---------------------------------------------- Dated this the 26th day of September, 2011 JUDGMENT The petitioner challenges proceedings initiated by the respondents under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of amounts due under an overdraft facility granted to the petitioner. Although th petitioner complains of action on the part of the bank, which, according to the petitioner, is unworthy of a nationalised bank, the petitioner now confines his reliefs for permission to pay off the amounts due in instalments. 2. This is opposed by the learned Standing Counsel for the bank. He seeks to refute the allegations against the bank raised in this writ petition. 3. I am not going into the merits of the contentions of the parties, insofar as the petitioner now wants only facility to pay off the amounts due in instalments. In the above circumstances, this writ petition is disposed of W.P.(C)No.25304/11 2 directing the respondents to permit the petitioner to pay off the balance amounts due in ten 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 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.25304/11 3 W.P.(C)No.25304/11 4