IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 16TH DECEMBER 2011 / 25TH AGRAHAYANA 1933 WP(C).No. 33743 of 2011(P) --------------------------------- PETITIONER(S): ------------------- KOSHY MATHAI, AGED 56 YEARS, S/O.MATHAI, KATTORKURIMALA HOUSE, VALLAMKULAM P.O., PATHANAMTHITTA. BY ADVS. SRI.N.ASHOK KUMAR SRI.ROY PHILIP RESPONDENT(S): -------------------- THE PATHANAMTHITTA DISTRICT CO-OPERATIVE BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, HEAD OFFICE, PATHANAMTHITTA. BY ADV. SRI.P.C.SASIDHARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 33743/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF PUBLIC NOTICE FOR AUCTION PUBLISHED IN MALAYALA MANORAMA DAILY DATED 25/11/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33743 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 16th day of December, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondent for recovery of defaulted loan amounts. The petitioner does not dispute the liability or the quantum. The petitioner only seeks a facility to pay 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 the following directions: The petitioner shall pay the amounts demanded in eight equal monthly instalments starting from 16.1.2012. Every subsequent instalment shall be paid on the first working day after 15.1.2012 of every succeeding month. If the petitioner pays the instalment amount on due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, 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. Sd/- S. Siri Jagan, Judge. Tds/