IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 8TH JULY 2011 / 17TH ASHADHA 1933 WP(C).No. 18499 of 2011(J) ---------------------------------------- PETITIONER(S): ----------------------- K.J. SOLOMON, AGED 53 YEARS, S/O.JOSEPH, KOCHEEKKARAN VEEDU, VADAKKAL P.O., ALAPPUZHA. BY ADV. SRI.S.SANAL KUMAR, SMT.BHAVANA VELAYUDHAN, SMT.T.J.SEEMA. RESPONDENT(S): -------------------------- THE ALLEPPEY DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, ALAPPUZHA-688 001, REPRESENTED BY ITS MANAGER. BY ADV. MR.P.K. VIJAYAMOHANAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 18499 of 2011(J) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE C.M.P. NO.2800 OF 2011 FILED BY THE RESPONDENT BEFORE THE CHIEF JUDICIAL MAGISTRATE, ALAPPUZHA. EXT.P2: COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER DATED 28/06/2011. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE rs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 18499 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 8th day of July, 2011. J U D G M E N T Petitioner is a defaulter in repayment of loan amounts due from him to the respondent. The respondent initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002, which is under challenge in this writ petition. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks a facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the balance amounts due in eight equal monthly instalments starting from 1.8.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amount on the due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions or in paying any one instalment, it would be open to the respondents to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/