IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 28TH OCTOBER 2011 / 6TH KARTHIKA 1933 WP(C).No. 28692 of 2011(T) -------------------------- MC.162/2011 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- VENKITACHALAM M. S/O.MUTHAIH NAICKER, VASANTHAM, TC 21/1859 (3) KEEZHRANNOOR, KARAMANA PO, THIRUVANANTHAPURAM. BY ADV. SRI.M.SREEKUMAR RESPONDENT(S): --------------- 1. UNION BANK OF INDIA, REP. BY ITS CHIEF MANAGER, STATUE, THIRUVANANTHAPURAM-695002. 2. AUTHORISED OFFICER, KARAMANA BRANCH, UNION BANK OF INDIA, THIRUVANANTHAPURAM-695002. 3. MURUKESAN K.R., T.C.21/1788(2), SOMAN NAGAR, KARAMANA P.O.,THIRUVANANTHAPURAM-695002. BY ADV. SRI. A.S.P. KURUP. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/10/2011, A/W. W.P.C. NO. 28759/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) Nos. 28692 & 28759 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 28th day of October, 2011. J U D G M E N T These two writ petitions are filed by the same petitioner challenging the proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated against the secured asset, which is the same in respect of three separate loans. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. 2. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the amounts due in respect of the three loans, which the petitioner has taken from the respondents, in 10 equal monthly instalments starting from 1.12.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, 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 respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/