IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 26TH JULY 2011 / 4TH SRAVANA 1933 WP(C).No. 20354 of 2011(T) ---------------------------------------- PETITIONER(S): ------------------------ SHAHUL HAMEED,S/O.ABDUTTI, NALAKATH PUZHANGARA HOUSE, PADOOR DESOM, KUNDAZHIYOOR VILLAGE,CHAVAKKAD TALUK, THRISSUR DISTRICT,REP BY HIS P/A SHAFAF SHAHUL N.P, S/O. SHAHUL HAMEED, AGED 20 YEARS, NALAKATH PUZHANGARA (H),PADOOR DESOM, KUNDAZHIYOOR VILLAGE,CHAVAKKAD TALUK,THRISSUR DIST BY ADV. SRI.K.P.SUDHEER RESPONDENT(S): --------------------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS MANAGER, IRINGALAKUDA. 691 585. 2. THE AUTHORISED OFFICER UNDER THE, SARFAESI ACT, STATE BANK OF INDIA, IRINGALAKUDA. 691 585. 3. ASHRAF,S/O.KALLUVALAPPIL UMMER, EDAKKAZHIYUR AMSOM AND DESOM, CHAVAKKAD TALUK, THRISSUR DISTRICT. 680 506. 4. AMEENULLA, S/O.PANIKKAVEETTIL SAIDU MUHAMMED. PALUVAI ROAD, KUNDAZHIYUR VILLAGE. CHAVAKKAD TALUK, THRISSUR DISTRICT. 680506. 5. NASEEMBANU, D/O. MAMBRANATH MUHAMMADALI, THOYAKKAVU DESOM, KUNDAZHIYUR VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT-680 506 R1 & R2 BY ADV.SRI.R.S.KALKURA,SC, SBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.20354/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE DATED 19/7/2011 IN CRIMINAL M.P.NO.9794/2010 ON THE FILE OF THE CHIEF JUDICIAL MAGISTRATE'S COURT, THRISSUR ISSUED BY ADVOCATE COMMISSIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.20354 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 26th day of July, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts due from the 4th respondent. Now the petitioner only seeks facility to pay off the amount in instalments so as to save his property without prejudice to the right of the petitioner to seek remedies against the persons who have mortgaged the property to the Bank. 2. I have heard the learned standing counsel for the Bank also. In the facts and circumstances of the case, I dispose of this writ petition with a direction to the respondents 1 & 2 to permit the petitioner to pay off the balance amount due in 6 (six) equal monthly instalments starting from W.P.(C)No.20354 of 2011 -2- 01.09.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalments, it would be open to the respondents 1 & 2 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. This is without prejudice to the contention of the petitioner in respect of the property in question to be agitated before the appropriate authorities and the right of the petitioner to proceed against the 4th respondent to recover the amounts paid by the petitioner to the Bank. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/