IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 28TH OCTOBER 2011 / 6TH KARTHIKA 1933 WP(C).No. 28630 of 2011(C) -------------------------- PETITIONER(S): --------------- ABU.P.M., S/O.MOHAMMED, PARAPURATH HOUSE, SREEBHOOTHAPURAM.P.O., PIN.683 580. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- THE FEDERAL BANK LTD., REP.BY THE AUTHORISED OFFICER, REGIONAL OFFICE, FEDERAL TOWERS, MARINE DRIVE, KOCHI-31. ADV. SRI.A.ANTONY SMT.LEELAMMA ANTONY THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 28/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 28630 of 2011(C) APPENDIX PETITIONER(S) EXHIBITS EXT.P1- TRUE COPY OF POSSESSION NOTICE. EXT.P2- TRUE COPY OF NOTICE ISSUED ON THE PETITIONER BY THE COUNSEL FOR THE BANK. EXT.P3- TRUE COPY OF REQUEST LETTER. RESPONDENTS' EXHIBITS: NIL TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.28630 OF 2011 ---------------------------------------------- Dated this the 28th day of October, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioner to the respondent bank. 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. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondent shall permit the petitioner to pay off the balance amount due in ten equal monthly instalments starting from 1.12.2011. 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 W.P.(C)No.28630/11 2 the petitioner commits default in payment of any one of the instalments, it would be open to the respondent 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.28630/11 3