IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 9TH APRIL 2008 / 20TH CHAITHRA 1930 W.P.(C).No. 11108 of 2008(V) ---------------------------------- PETITIONERS: --------------- 1. GOPALAKRISHNAN PILLAI C., MURALI MANDIRAM, VATHIKULAM, THEKKEKARA P.O., MAVELIKKARA - 690 107. 2. RUGMINI.E., MURALI MANDIRAM, VATHIKULAM, THEKKEKARA P.O., MAVELIKKARA 690 107. BY ADV. SRI.B.JAYASURYA RESPONDENTS: ----------------- 1. HOUSING DEVELOPMENT FINANCE- CORPORATION LTD., (HDFC), HDFC HOUSE, POST BAG NO.1667, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI - 15, REPRESENTED BY ITS AUTHORISED OFFICER. 2. THE BRANCH MANAGER, HOUSING DEVELOPMENT FINANCE CORPORATION LTD., (HDFC), CYRIL TOWER, NEAR RAILWAY STATION, KOTTAYAM. BY ADV. SRI.K.K.CHANDRAN PILLAI, SC, HDFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 11108 OF 2008 V ==================== Dated this the 9th day of April, 2008 J U D G M E N T The petitioners against whom Ext.P2 notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has been issued, are challenging the proceedings. 2. When the matter was taken up, what is sought for is only an instalment facility and I heard the standing counsel appearing for the respondents also. It is submitted that two facilities were availed of by the petitioner and that in both, default has been committed. According to the learned counsel for the respondents, about Rs.7.2 lakhs is due from the petitioners. 3. Since the counsel for the petitioners is only seeking an instalment facility, I feel a chance should be given to the petitioners to avoid further proceedings. 4. Accordingly, I direct that on condition that the petitioners remit Rs.2 lakhs within one month from today, further proceedings pursuant to Ext.P2 will stand deferred. It is directed that the balance WPC 11108/08 :2 : amount will be intimated to the petitioners in the meanwhile and that will also be permitted to be paid by the petitioners in five equal monthly instalments. The first instalment will be payable before 30th of June, 2008 and subsequent instalments before the 30th of every succeeding month. Subject to payment as above, further action will stand stayed. It is clarified that in case default is committed, the respondents are free to continue the proceedings. Writ petition is disposed of as above. ANTONY DOMINIC,JUDGE. Rp