IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH JANUARY 2011 / 28TH POUSHA 1932 WP(C).No. 1623 of 2011(C) ------------------------- PETITIONER(S): --------------- SUDHEESH RAJ.M.V., AGED 39 YEARS, S/O.VISWAMBHARAN, MATHARA HOUSE, PALLIYAKKAL, CHATHANAD, EZHIKKARA P.O., EZHIKKARA VILLAGE, PARAVUR TALUK. BY ADV. SRI.P.T.SEBASTIAN TOMY RESPONDENT(S): --------------- 1. MR.PHILIP VARGHESE, AUTHORISED OFFICER, THE CHIEF MANAGER, CANARA BANK, EZHIKKARA P.O., NORTH PARAVUR-683 513. 2. THE BRANCH MANAGER, CANARA BANK, EZHIKKARA P.O., NORTH PARAVUR-683 513. ADV.MR. P. GOPINATH MENON – SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ----------------------------------- W.P.(C) No.1623 OF 2011 --------------------------------------- Dated this the 18th day of January, 2011 JUDGMENT The petitioner is a Fisherman, who availed of a loan from the respondents. Proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act has been initiated now. The petitioner seeks facility to pay the amount in instalments. Having heard the learned Standing Counsel for the Bank also, I dispose of this writ petition with the following directions: The petitioner shall pay an amount of Rs.50,000/ within one month from today. The balance amount shall be paid in ten equal monthly instalments starting from 1.4.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner complies with the above directions promptly, further proceedings pursuant to the impugned proceedings shall be kept in abeyance. However, if the petitioner fails to pay either Rs.50,000/- or any of the W.P.(C)No.1623/11 2 subsequent 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.1623/11 3