IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 29TH AUGUST 2011 / 7TH BHADRA 1933 WP(C).No. 23416 of 2011(B) -------------------------------------- PETITIONER: ------------------- SIDDIQUE CHEKKUTTY,S/O.CHEKUTTY, PARAPPUR VALAPPIL HOUSE,CHELAKKARA, P.O VENGANELLUR THRISSUR DISTRICT. BY ADV. SRI.M.K.DILEEP KUMAR. RESPONDENTS: ------------------------ 1. THE AUTHORISED OFFICER,VIJAYA BANK, ROUND WEST, THRISSUR, THRISSUR DIST., -680 001. 2. THE BRANCH MANAGER,VIJAYA BANK, ROUND WEST, THRISSUR, THRISSUR DISTRICT- 680 001. R1 & R2 BY SMT. LATHA KRISHNAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/08/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.23416/2011-B: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE POSSESSION NOTICE DT. 02/12/2010 ISSUED BY THE R.1. TO THE PETITIONER AND HIS WIFE. EXT.P.2: COPY OF THE NOTICE DT. 18/08/2011 ISSUED BY ADV. COMMISSIONER REJI U.N. TO THE PETITIONER AND HIS WIFE DISCLOSING THE FORCEFUL POSSESSION OF THE PROPERTY AFTER SEVEN DAYS. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE. Prv. S.SIRI JAGAN, J. ================== W.P.(C).No. 23416 of 2011 ================== Dated this the 29th day of August, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of loan amounts defaulted by the petitioner. 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. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amount due in eight equal monthly instalments starting from 1.10.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge