IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 20TH JULY 2011 / 29TH ASHADHA 1933 WP(C).No. 19191 of 2011(Y) ------------------------------------- PETITIONER(S): ---------------------- B.MOHANAKUMAR, BETHEL, TC 8/528, ASWATHY, THUNDUVILA, SREEKARYAM P.O., THIRUVANANTHAPURAM. BY ADV. SRI.S.MOHAMMED AL RAFI RESPONDENT(S): -------------------------- ORIENTAL BANK OF COMMERCE, REPRESENTED BY AUTHORISED OFFICER/CHIEF MANAGER, M.G.ROAD, THIRUVANANTHAPURAM-695001. BY ADV. SRI.K.P.SUJESH KUMAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.19191/2011 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE CERTIFICATE DTD. 14.6.2010 ISSUED BY CENTRE FOR DEVELOPMENT OF ADVANCE COMPUTING. P2:- COPY OF THE PETITION AS CMP. 3612/09 FILED BY THE RESPONDENT BEFORE THE COURT OF CJM, THIRUVANANTHAPURAM. RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.S. TO JUDGE tss S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 19191 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 20th day of July, 2011. J U D G M E N T The petitioner challenges proceedings initiated by the respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks a facility to pay off the amounts in instalments. Having heard both sides, I dispose of this writ petition with a direction to the respondent to permit the petitioner to pay off the balance amounts due under the loan in 10 equal monthly instalments starting from 1.9.2011. Every subsequent instalment shall be paid on the first working day of succeeding month. If the petitioner pays the amount 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/