IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 24TH NOVEMBER 2011 / 3RD AGRAHAYANA 1933 WP(C).No. 31387 of 2011(W) ----------------------------------------- PETITIONER(S): ------------------------- SURESH.C.B,S/O.CHELLAPPAN ACHARY, UTHRADAM,SARATHI JUNCTION,KARIKODE,T.K.M.PO, KOLLAM. BY ADV. SRI.PRATHEESH.P RESPONDENT(S): -------------------------- 1. THE MANAGER,SYNDICATE BANK,KUNDARA, KOLLAM 691 501. 2. THE DISTRICT COLLECTOR,KOLLAM 691 013. 3. THE DEPUTY THAHASILDAR(RR),KOLLAM 691 001 4. VILLAGE OFFICER, KOTTANKARA VILLGE, KOLLAM 691 014. R1 TO R4 BY GOVERNMENT PLEADER SRI. S.JAMAL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/11/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.31327/2011 W APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1 THE COPY OF THE TERMS OF ONE TIME SETTLEMENT DATED 19/1/2011. EXHIBIT P2 THE COPY OF THE DEMAND NOTICE ISSUED BY THE DEPUTY TAHSILDAR (RR) KOLLAM DATED 15/3/2011. RESPONDENTS' EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 31387 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 24th day of November, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and and Enforcement of Security interest Act, 2002 initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability or quantum. The petitioner only seeks a facility to pay 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 amounts demanded in eight monthly instalments starting from 2.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amounts 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 proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/