IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 2ND NOVEMBER 2011 / 11TH KARTHIKA 1933 WP(C).No. 29060 of 2011(F) ------------------------------------ PETITIONER(S): ----------------------- C. SUDEVAN, S/O. C. CHATHAN, KERALA PARAMBIL HOUSE, VANOOR, ALATHUR, PALAKKAD. BY ADVS. SRI.K.MOHANAKANNAN SMT.A.R.PRAVITHA SMT.RASHMI RAVINDRAN RESPONDENT(S): ------------------------ 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS CHIEF MANAGER, THIRUVANANTHAPURAM-695 001. 2. STATE BANK OF TRAVANCORE, ALATHUR BRANCH, REP. BY ITS BRANCH MANAGER, OPP. BUS STAND, ALATHUR, PALAKKAD - 678 014. BY ADV.SRI.T. SETHUMADHAVAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AV WPC.NO.29060/2011 APPENDIX PETITIONER(S) EXHIBITS : EXHIBIT-P1 : COPY OF THE RELEVANT PAGES OF THE PASS BOOK. EXHIBIT-P2 : COPY OF THE NOTICE DATED 31/05/2011 EXHIBIT-P3 : COPY OF THE NOTICE DATED 08/06/2011 ISSUED BY THE IST RESPONDENT UNDER THE SARFAESI ACT EXHIBIT-P4 : COPY OF THE RECEIPT DATED 04/10/2011 EXHIBIT-P5 : COPY OF THE RECEIPT DATED 08/10/2011 RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A. TO JUDGE AV S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 29060 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 2nd day of November, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 01.12.2011. Every subsequent W.P.(C)No. 29060 of 2011 -2- 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 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/