IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 15TH JULY 2011 / 24TH ASHADHA 1933 WP(C).No. 24141 of 2009(K) ---------------------------------------- PETITIONER(S): ------------------------- K.K.REGUNATHAN NAIR, AJU NIVAS, UZHAVOOR P.O., KOTTAYAM DISTRICT. BY ADV. SRI.GEORGEKUTTY MATHEW RESPONDENT(S): -------------------------- 1. THE AUTHORIZED OFFICER UNDER THE SRFAESI ACT, DEWAN HOUSING FINANCE CORPORATION LTD., IST FLOOR, KMM BUILDING, PALARIVATTOM, ERNAKULAM, COCHIN-682 025. 2. THE BRANCH MANAGER, DEWAN HOUSING FINANCE CORPORATION LTD., BAKERY JUNCTION, KOTTAYAM DISTRICT. R1 BY ADV. SRI.P.PAULOCHAN ANTONY THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 15/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.24141/2009 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE DATED 12/08/09 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. P2 COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT NO.1 ON 19/08/09. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.24141 OF 2009 ---------------------------------------------- Dated this the 15th day of July, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of loan amounts due from the petitioner to the respondents. Both parties now agree that the petitioner has paid the amounts sufficient to regularize the loan account by paying the defaulted instalments and therefore, the petitioner can be permitted to continue to pay the instalments of repayment of loan as per the original loan agreement. Having heard both sides, I dispose of this writ petition with a direction to the respondents to permit the petitioner to continue to repay the loan amount in accordance with the original loan agreement by paying the instalments on due dates as per the agreement. If the petitioner pays the instalments on due dates without default, further coercive proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default W.P.(C)No.24141/09 2 in payment of any one instalment, 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.24141/09 3