IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 8TH DECEMBER 2011 / 17TH AGRAHAYANA 1933 WP(C).No. 32661 of 2011(G) --------------------------------------- PETITIONER: ------------------- A.ABDUL KHADER, AGED 49 YEARS, ALIPILLAI VEEDU, PETTA, PATHANAMTHITTA. BY ADVS. SRI. K.SHAJ, SRI.SAJJU.S, SRI.PRAVEEN THOMAS ABRAHAM. RESPONDENTS: ------------------------ 1. THE SYNDICATE BANK, PATHANAMTHITTA BRANCH, REPRESENTED BY ITS CHIEF MANAGER - 689 645. 2. THE SYNDICATE BANK, REGIONAL OFFICE, THIRUVANANTHAPURAM- 695 001. REPRESENTEDBY ITS AUTHORISED OFFICER. R1 & R2 BY SRI. R.S. KALKURA, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).NO.32661/2011-G: APPENDIX PETITIONER'S EXHIBITS:- EXT.P1: THE TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONERS LOAN ACCOUNT ISSUED BY THE FIRST RESPONDENT BANK. EXT.P2: THE TRUE COPY OF THE NOTICE DTD. 27.10.2011 ISSUED BY THE 2ND RESPONDENT. EXT.P3: THE TRUE COPY OF THE NOTICE DTD. 18.11.2011 PUBISHED BY THE FIRST RESPONDENT. RESPONDENTS' EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE Prv. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.32661 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 8th day of December, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 8 (eight) equal monthly instalments starting from 02.01.2012. Every subsequent W.P.(C)No.32661 of 2011 -2- instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalments, 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 //True copy// P.A. TO JUDGE shg/