IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 22ND SEPTEMBER 2011 / 31ST BHADRA 1933 WP(C).No. 25004 of 2011(A) --------------------------------------- PETITIONER(S): ----------------------- K.NARAYANAN NAIR, KALAVARATHOPU BUNGALOW, K.P.III/595, KAZHAKOOTTAM, TRIVANDRUM. BY ADV. SRI.R.SUNIL KUMAR SMT.A.SALINI LAL RESPONDENT(S): --------------------------- 1. THE AUTHORIZED OFFICER, STATE BANK OF INDIA, STRESSED ASSETS RECOVERY BRANCH, CHILD WELFARE COMPLEX, L.M.S.COMPOUND, TRIVANDRUM. PIN-695 033. 2. THE BRANCH MANAGER, STATE BANK OF INDIA, S.P.B.BRANCH, GENERAL HOSPITAL, TRIVANDRUM. PIN-695 002. R1 & R2 BY ADV.SRI.R.S.KALKURA,SC, SBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.25004/2011 APPENDIX PETITIONER(S) EXHIBITS EXHIBIT P-1: PETITIONER'S ANGIOPLASTY REPORT AS WELL AS HIS DISCHARGE SUMMARY. EXHIBIT P-2: COPY OF 13(2) NOTICE. EXHIBIT P-3: COPY OF RECEIPT DATED 25/8/2011. EXHIBIT P-4: COPY OF THE LETTER REJECTING THE REQUEST DATED 25/8/2011. RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.25004 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of September, 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 W.P.(C)No.25004 of 2011 -2- instalments starting from 01.11.2011. 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 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/