IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 12TH MARCH 2008 / 22ND PHALGUNA 1929 W.P(C).No. 7513 of 2008(T) -------------------------------- PETITIONER: -------------- K.A. RIYAS, KOODATHINKAL HOUSE, MUNICIPAL OFFICE JUNCTION, CHANGANACHERRY. BY ADV. SRI.MANOJ RAMASWAMY RESPONDENT: --------------- THE BRANCH MANAGER (AUDHTORISED OFFICER) M/S. VIJAYA BANK, CHANGANACHERRY BRANCH, CHANGANACHERRY, KOTTAYAM DISTRICT. BY ADV. SMT.LATHA KRISHNAN,SC, VIJAYA BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 7513 OF 2008 T ==================== Dated this the 12th day of March, 2008 J U D G M E N T The challenge in this writ petition is against the proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. Petitioner submits that he wants to discharge the liability in instalments. 2. I heard the counsel for the Bank also in this matter. 3. Having regard to the submission made by both sides, this writ petition is disposed of with the following directions. 1) Petitioner shall, within one week from today deposit with the respondent Bank 50% of the amount remaining outstanding as of now. 2) Subject to payment as above, further proceedings shall be deferred by the Bank. 3) The balance outstanding will be permitted to be paid in four equal monthly instalments. The first instalment will be WPC 7513/08 :2 : payable in the first week of April, 2008 and the subsequent instalments will be payable in the first week of every succeeding month. 4) In case default is committed, the Bank will be free to continue the action that it has already initiated. ANTONY DOMINIC,JUDGE. Rp