IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 12TH JULY 2011 / 21ST ASHADHA 1933 WP(C).No. 11412 of 2011(B) ---------------------------------- PETITIONER(S): ------------------- ANTONY T.P., AGED 57, S/O.T.P.PORINCHU, THARAKAN HOUSE, POTTOOR P.O., THRISSUR DISTRICT. BY ADVS. SRI.G.SREEKUMAR (CHELUR) SRI.K.RAVI (PARIYARATH) RESPONDENT(S): --------------------- 1. THE CANARA BANK, KULAPPULLY BRANCH, REP.BY ITS MANAGER, KULAPULLY, PALAKKAD DISTRICT, PIN 678001. 2. THE AUTHORISED OFFICER, CANARA BANK BRANCH, KULAPULLY, PALAKKAD DISTRICT-678001. R 1& 2 ADVS. SRI.E.K.NANDAKUMAR SRI.A.K.JAYASANKAR NAMBIAR SRI.K.JOHN MATHAI SRI.P.BENNY THOMAS SRI.P.GOPINATH SRI.S.RAMU THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 11412/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE DEED OF RETIREMENT CUM RELEASE DATED 11/06/09. P2: COPY OF THE NOTICE ISSUED BY THE SECOND RESPONDENT TO THE FIRM DATED 24/02/2010. P3: COPY OF THE RECEIPT FOR PAYMENT OF RS.1.5 LAC DATED 09/07/2010 ISSUED TO THE PETITIONER. P4: COPY OF THE RECEIPT FOR PAYMENT OF RS. 1 LAC DATED 10/01/2008. P5: COPY OF THE RECEIPT DATED 21/12/2010. P6: COPY OF THE COMMUNICATION BY THE FIRST RESPONDENT DATED 23/12/2010. P7: COPY OF THE DEED OF PARTNERSHIP DATED 10/06/2009. P8: COPY OF THE DOCUMENT DATED 11/06/2009. P9: COPY OF THE DOCUMENT DATED 12/06/2009. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 11412 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 12th day of July, 2011. J U D G M E N T The petitioner claims to be a partner of a firm by name M/s. 'Tiros Treads'. The firm had availed of loan facilities from the respondents. The firm committed default in repayment. The bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002, which is under challenge in this writ petition. 2. Originally, the bank raised a contention that as far as the bank is concerned, the petitioner is a total stranger insofar as as per the partnership deed supplied to the bank, the petitioner is not a partner. The petitioner has now produced Ext. P7 deed of reconstitution of partnership. But the learned counsel for the bank contends that that deed has not been registered with the bank and therefore as far as the bank is concerned, the same cannot be taken into account. The petitioner submits that all what he wants is an opportunity for the firm to pay off the amount in instalments. In the above circumstances, this writ petition is disposed of with the following directions: The firm of which the petitioner claims to be a partner shall pay off the balance amounts due to the respondents in 4 equal monthly instalments starting from 1.8.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the firm pays the instalments on due dates without default, further proceedings under the Act shall be kept W.P(C) No. 11412 of 2011 -: 2 :- in abeyance. However, if the firm in which the petitioner is a partner, 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/