IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 19TH DECEMBER 2011 / 28TH AGRAHAYANA 1933 WP(C).No. 33944 of 2011(P) ------------------------------------- PETITIONER(S): ------------------------ MUHAMMED SHAFI ALIAS A.M. SHAFI, S/O. ABDUL KARIM, RESIDING AT RUKKIYA MANZIL, VELAVOOR, PIRAPPACODE P.O., THIRUVANANTHAPURAM DISTRICT. BY ADVS. SRI. A.B. MOHANAKUMAR SMT. NIMA JACOB RESPONDENT(S): ------------------------- STATE BANK OF TRAVANCORE, NEDUMANGAD BRANCH, PB.NO.3, NEDUMANGAD, THIRUVANANTHAPURAM, PIN-695 541 REP.BY THE AUTHORISED OFFICER (CHIEF MANAGER) BY GOVERNMENT PLEADER SRI.S. JAMAL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VPV WPCNO.33944/2011 APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 05.09.2011 ISSUED TO THE PETITIONER BY THE RESPONDENT UNDER SECTION 13(2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE VPV S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33944 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 19th day of December, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondent for recovery of defaulted loan amounts. The petitioner does not dispute the liability or quantum. The petitioner only seeks 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 10 monthly instalments starting from 1.2.2012. 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 respondent to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/