IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 14TH JULY 2008 / 23RD ASHADHA 1930 WP(C).No. 18396 of 2008(M) ------------------------------------- PETITIONER: ------------------- A.RAVINDRAN, S/O.ARU, CHALLAKKAD HOUSE, PUDUSSERY POST, PALAKKAD. BY ADV. SRI.SAJAN VARGHEESE K. SRI. LIJU. M.P RESPONDENTS: ---------------------- 1. THE ASST.GENERAL MANAGER, (AUTHORISED OFFICER), SYNDICATE BANK, REGIONAL OFFICE, IST FLOOR, PIONEERS TOWERS, SHANMUGHAM ROAD, ERNAKULAM. 2. SYNDICATE BANK, REP. BY ITS SENIOR BRANCH MANAGER, MAIN BRANCH, T.B.ROAD, PALAKKAD - 14. BY ADV. SRI.R.S.KALKURA FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 14/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 18396 of 2008(M) -2- APPENDIX PETITIONER'S EXHIBITS EXT.P1 - TRUE COPY OF POSSESSION NOTICE DATED 21.05.2008 ISSUED BY THE 1ST RESPONDENT. /TRUE COPY / PA TO JUDGE S.SIRI JAGAN, J ================== W.P (C).No.18396 of 2008 ================== Dated this the 14th day of July, 2008. 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. However, for the present the petitioner would be satisfied if he is permitted to pay the amounts in installments. 2. This is opposed by the Counsel for the bank. He would submit that the petitioner has been given sufficient opportunity which he had not availed of. 3. Having heard both sides I feel that some more indulgence can be shown to the petitioner to enable him to pay the amounts in installments. 4. Accordingly, the writ petition is disposed of with the following directions: The petitioner shall pay an amount of Rs.50,000/- within one month from today. The balance amount shall be W.P (C).No.18396 of 2008 - 2 - paid in four equal monthly installments starting from 1.10.2008. If the petitioner pays Rs.50,000/- and the installments in time, further coercive proceedings shall be kept in abeyance. However, if the petitioner commits default in payment of either Rs.50,000/- or any of the subsequent installments, 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. S.SIRI JAGAN, JUDGE rhs