IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 21ST DECEMBER 2011 / 30TH AGRAHAYANA 1933 WP(C).No. 33387 of 2011(W) ---------------------------------------- PETITIONER(S) : ----------------------- KATTIL MOHAMMED HAJI, PROPRIETOR, M/S.NATIONAL LEATHER INDUSTRIES & M/S.KATTIL EXPORTERS, KATTIL HOUSE PANTHARANGADI POST, TIRURANGADI, MALAPPURAM DIST., PIN-676 306. BY ADV. SRI. K.P.SUDHEER RESPONDENT(S) : ------------------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS AUTHORISED OFFICER & CHIEF MANAGER, STATE BANK OF TRAVANCORE, RAHIM BUILDINGS, CHEMMAD, MALAPPURAM DISTRICT, PIN-676 306. R1 BY ADVS. SRI. T.SETHUMADHAVAN , S.C. SRI.PUSHPARAJAN KODOTH SRI.K.JAYESH MOHANKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: NS W.P.C. 33387/2011 APPENDIX PETITIONER(S) EXHIBITS : EXT. P1 : COPY OF LAWYER NOTICE DATED 13.09.2011 ISSUED ON BEHALF OF THE RESPONDENT BANK. EXT. P2 : COPY OF LAWYER NOTICE DATED 13.09.2011 ISSUED ON BEHALF OF THE RESPONDENT BANK. EXT. P3 : COPY OF RECEIPT DATED 28.09.2011 FOR RS. 55,000/- ISSUED BY THE RESPONDENT BANK. EXT. P4 : COPY OF RECEIPT DATED 29.09.2011 FOR RS. 50,000/- ISSUED BY THE RESPONDENT BANK. EXT. P5 : COPY NOTICE DATED 12.11.2011 ISSUED UNDER SEC. 13(2) OF SECURITISATION & RECONSTRUCTION OF FINANCIAL ASSETS & ENFORCEMENT OF SECURITY INTEREST ACT (SARFAESI ACT) BY THE RESPONDENT BANK TO THE PETITIONER. EXT. P6 : COPY OF REPLY DATED 24.11.2011 TO EXT. P5 SUBMITTED BY THE PETITIONER. EXT. P7 : COPY OF REPRESENTATION DATED 09.12.2011 SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT. RESPONDENT(S) EXHIBITS : NIL / TRUE COPY / P.A. TO JUDGE NS S.SIRI JAGAN, J. ================== W.P.(C).No. 33387 of 2011 ================== Dated this the 21st day of December, 2011 J U D G M E N T The petitioner defaulted repayment of amounts due to the respondent in two cash credit facilities. The respondent initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. That is under challenge in this writ petition. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts 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 off the cash credit facility of ` 12 lakhs in three equal monthly instalments payable on 2.1.2012, 1.2.2012 and 1.3.2012. In respect of the other account, the petitioner shall pay off the amounts in ten equal monthly instalments starting from 1.4.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner complies with the above directions, further proceedings under the Act shall be kept in abeyance. However, if the petitioner fails to comply with any of the above directions, it would be open to the respondent to continue w.p.c.33387/11 - : 2 :- proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. If the petitioner makes a request for concession in interest, the respondent shall consider the same in accordance with the bank's policies and guidelines. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge