IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 20TH JULY 2011 / 29TH ASHADHA 1933 WP(C).No. 19748 of 2011(P) --------------------------------------- CRMP.1496/2011 of C.J.M.PALAKKAD .................... PETITIONER(S): ------------------------ ABULAIS, S/O. USMAN, AFSANA MANZIL, MALAMALAMUKKU, ALATHUR, PALGHAT DISTRICT. BY ADV. SRI.T.C.MOHANDAS RESPONDENT(S): -------------------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS AUTHORISED REPRESENTATIVE REGIONAL OFFICE, PALGHAT.PIN-678 014 BY ADV.SRI.T.SETHUMADHAVAN,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.19748/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE PETITION DATED 9/6/2011 FILED BEFORE CHIEF JUDICIAL MAGISTRATE, PALGHAT. P2 COPY OF THE ORDER DATED 16/12/2006. P3 COPY OF THE LETTER DATED 25/4/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No. 19748 OF 2011 ---------------------------------------------- Dated this the 20th day of July, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioner to the respondent bank. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due instalments. 2. This is opposed by the learned counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondent shall permit the petitioner to pay off the balance amount due in twelve equal monthly instalments starting from 1.8.2011. 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 W.P.(C)No.19748/11 2 the petitioner commits default in payment of any one of the instalments, it would be open to the respondent 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.19748/11 3