IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 22ND DECEMBER 2011 / 1ST POUSHA 1933 WP(C).No. 34774 of 2011(V) -------------------------------------- PETITIONER(S): ---------------------- THANKAMMA CHELLAPPAN, AGED 80 YEARS, W/O. CHELLAPPAN, CHARIVU PURAYIDAM, THIRUVALLA VILLAGE THIRUVALLA TALUK, PATHANAMTHITTA DISTRICT. BY ADV. SRI.R.SANTHOSH BABU RESPONDENT(S): ------------------------- 1. THE THIRUVALLA URBAN CO-OPERATIVE BANK LTD. NO.477, REP. BY ITS SECRETARY, MARKET ROAD THIRUVALLA - 689 103. 2. INSPECTOR OF CO-OPERATIVE SOCIETIES, SPECIAL SALE OFFICER, DEPARTMENT OF CO-OPERATION, THE THIRUVALLA URBAN CO-OPERATIVE BANK LTD 477, THIRUVALLA - 689 103. R2 BY ADV.SRI.S.JAMAL, GOVT.PLEADER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DG WP(C).No. 34774 of 2011(V) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE ORDER DATED 10.10.2007 OF KERALA CO- OPERATIVE TRIBUNAL, THIRUVANANTHAPURAM IN R.P.27/2007. EXT.P2 : COPY OF THE RECEIPT DATED 13.04.2007. EXT.P2a : COPY OF THE RECEIPT DATED 19.05.2007. EXT.P2b : COPY OF THE RECEIPT DATED 12.05.2007. EXT.P2C : COPY OF THE RECEIPT DATED 05.01.2008. EXT.P2d : COPY OF THE RECEIPT DATED 24.03.2008. EXT.P2e : COPY OF THE RECEIPT DATED 23.05.2008. EXT.P2f : COPY OF THE RECEIPT DATED 26.09.2008. EXT.P2g : COPY OF THE RECEIPT DATED 25.11.2008. EXT.P3 : COPY OF THE NOTICE DATED 15.12.2011 IN ARC 472/2006 IN E.P.67/07 ISSUED BY 2ND RESPONDENT. EXT.P4 : COPY OF THE REPRESENTATION OF PETITIONER DATED 16.12.2011 BEFORE 2ND RESPONDENT. RESPONDENT'S EXHIBITS - NIL /TRUE COPY/ P.A.TO JUDGE DG S.SIRI JAGAN, J. ================== W.P.(C).No. 34774 of 2011 ================== Dated this the 22nd day of December, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in six equal monthly instalments starting from 2.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any 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. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge - : 2 :-