IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 11TH JULY 2008 / 20TH ASHADHA 1930 WP(C).No. 14997 of 2008(I) --------------------------------- PETITIONER: --------------- A.SELVARAJ, S/O AZEER, AGED 47 YEARS, M/S.S.L.HOLLOW BRICKS, ANCHUMARAMKALA, VALLARADA POST, RESIDING AT SUJHA HOUSE, KUTTIKADU, ELLUVILA PO. BY ADV. SRI.P.A.SEBASTIAN SRI.RAJU SEBASTIAN VADAKKEKKARA RESPONDENTS: ------------------- 1. THE AUTHORISED OFFICER/REGIONAL MANAGER, FEDERAL BANK, REGIONAL OFFICE, FEDEDERAL TOWERS, M.G.ROAD, THIRUVANANTHAPURAM. 2. THE FEDERAL BANK LTD., CHEMBUR BRANCH, THIRUVANANTHAPURAM. BY ADV. SRI.GEORGE VARGHESE (MANACHIRACKEL) FOR R1,R2. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 11/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 14997 of 2008 EXT.P1: COPY OF NOTICE ISSUED BY R1 DT. 20.6.07. EXT.P2: COPY OF MEDICAL CERTIFICATE DTD. 13.5.08 ISSUED BY CHIEF MEDICAL OFFICER DT. C.A. MOHAN MBBS F.C.C.P. TO THE PETITIONER. EXT.P3: COPY OF POSSESSION NOTICE ISSUED BY R1. TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------ W.P.(C)No.14997 OF 2008 ---------------------------------------- Dated this the 11th day of July, 2008 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. But presently, the petitioner only seeks a direction to the respondents to permit the petitioner to pay the balance amounts due in instalments. It is admitted that the amount of Rs.1 lakh directed to be paid as per order dated, 30.5.08 has been paid. 2. The learned Standing Counsel for the bank opposes the prayer. However, taking a lenient view, I dispose of this writ petition with the following directions. The respondents shall permit the petitioner to pay off the balance amounts due in six equal monthly instalments starting from 1.8.08. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments in time without default, further proceedings under the Act shall be kept in abeyance. However, if the W.P.(c)No.14997/08 2 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. S. SIRI JAGAN, JUDGE Acd