IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE S.SIRI JAGAN THURSDAY, THE 29TH DAY OF MARCH 2012/9TH CHAITHRA 1934 WP(C).No. 26936 of 2010 (N) --------------------------------------- PETITIONER: ------------------- RAMAKRISHNAN, S/O.LATE KUNJU PANICKAN, AGED 84 YEARS, SREE NILAYAM, MANJADITHARA, PALLICKAL P.O, ALAPPUZHA DISTRICT. BY ADV. SRI.V.ANIL. RESPONDENTS: ------------------------ 1. THE BRANCH MANGAER,FEDERAL BANK LTD., KATTANAM BRANCH, KATTANAM P.O, PIN- 690 503. 2. THE AUTHORISED OFFICER, FEDERAL BANK LTD, REGIONAL OFFICE, SREE RAJA RAJESWARI BUILDINGS, CHURCH ROAD, MULLAKAL, ALAPPUZHA DISTRICT. 3. RAJEEV.R, AGED 47 YEARS, S/O. RAMA KRISHNAN, SREE NILAYAM, MANJADITHARA, PALLICKAL P.O, ALAPPUZHA DISTRICT, PIN- 688 011. R1 & R2 BY ADVS. SRI.GEORGE VARGHESE (MANACHIRACKEL) SRI.P.R.MILTON. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 29-03-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).NO.26936/2010-N: APPENDIX PETITIONER'S EXHIBITS: EXT.P.1: COPY OF THE SALE DEED NO.2168/1987 OF SRO, BHARANIKAVU. EXT.P.2: COPY OF THE COMPLAINT NUMBERED AS M.C. NO.3/2009 FILED BY THE WIFE OF THE PETITIONER AGAINST THE R.3. EXT.P.3: COPY OF THE SALE NOTICE DTD. 29/07/2010 ISSUED BY THE R.2. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE. Prv. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 26936 of 2010 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 29th day of March, 2012. J U D G M E N T The petitioner has filed this writ petition challenging the proceedings initiated by the respondents under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts. 2. I have heard the learned standing counsel for the bank also. 3. By interim orders dated 30.8.2010 and 27.10.2010, this Court directed the petitioner to pay amounts of Rs. 1,50,000/- and Rs. 1,00,000/- respectively, which have been paid. In the above circumstances, I am of opinion the respondents can show some more leniency in the matter of granting time to the petitioner to pay off the balance amounts. Accordingly, the writ petition is disposed of with the following directions: The petitioner shall pay an amount of Rs. 50,000/- tomorrow. The balance amounts due shall be paid by the petitioner in two equal instalments payable on 2.5.2012 and 1.6.2012. If the petitioner pays the instalment amounts 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 instalment, it would be open to the W.P(C) No. 26936 of 2010 -: 2 :- respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. However, if the petitioner pays the amounts as directed above, the sale, if any, of the mortgaged property conducted shall be cancelled. Sd/- S. Siri Jagan, Judge. Tds/