IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 27TH OCTOBER 2011 / 5TH KARTHIKA 1933 WP(C).No. 26021 of 2011(C) -------------------------- MC.286/2011 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- HUBERT JOHN MIRANDA, GEEJA COTTAGE,VETTU ROAD, KANIYAPURAM P.O., THIRUVANANTHAPURAM DISTRICT PIN 695 301. BY ADVS. SRI.V.M.KURIAN SRI.MATHEW B. KURIAN SRI.K.T.THOMAS RESPONDENT(S): --------------- 1. CATHOLIC SYRIAN BANK LTD, KAZHAKUTTOM BRANCH, THIRUVANANTHAPURAM DISTRICT, PIN 695 582,REP.BY ITS BRANCH MANAGER. 2. THE AUTHORIZED OFFICER, CATHOLIC SYRIAN BANK LTD, ZONAL OFFICE,1ST FLOOR,MALANKARA BUILDING, PALAYAM,THIRUVANANTHAPURAM,PIN 695 034 3. WILLIAM JOHN MIRANDA, GEEJA COTTAGE,VETTU ROAD, KANIYAPURAM P.O., THIRUVANANTHAPURAM DISTRICT,PIN 695 301. *4. HELEN JOHN MIRANDA, NEIL HOUSE,THANKASERRY P.O., KOLLAM DISTRICT,PIN 691 001. *5. MOLLY JACOB, MANUEL BHAVAN,CHITTATTUMUKKU, THIRUVANANTHAPURAM PIN 695 588 *6. JEEJA AJITH, GEEJA COTTAGE,VETTU ROAD, KANIYAPURAM P.O., THIRUVANANTHAPURAM DISTRICT PIN 695 301. AV WPC.NO.26021/2011 *7. HARRY AUSTIN JOHN MIRANDA, GEEJA COTTAGE,VETTU ROAD, KANIYAPURAM P.O, THIRUVANANTHAPURAM DISTRICT PIN 695 301. 8. JUSTIN JOHN MIRANDA, JOHN MIRANDA,BEENA HOUSE, VAZHUTHACAUD P.O., THIRUVANANTHAPURAM PIN 695 301. * RESPONDENTS 4 TO 7 ARE TO BE DELETED FROM THE PARTY ARRAY AS PER JUDGEMENT DATED 27.10.2011 OF WRIT PETITION. R3 & R8 BY ADV.SRI.M.SREEKUMAR R1,R2 BY ADVS. SRI.PETER THARAKAN SRI.FRANCIS PETER THARAKAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 27/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AV WPC.NO.26021/2011 APPENDIX PETITIONER(S) EXHIBITS : EXT.P1 : COPY OF THE NOTICE DATED 11/10/2010 ISSUED BY THE 2ND RESPONDENT. EXT.P2 : COPY OF THE NOTICE ISSUED BY THE CHIEF JUDICIAL MAGISTRATE COURT,THIRUVANANTHAPURAM IN MC NO.286/2011. RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A. TO JUDGE AV S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.26021 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 27th day of October, 2011 J U D G M E N T The petitioner submits that respondents 4 to 7 may be deleted from the party array. Accordingly respondents 4 to 7 are deleted from the party array at the risk of the petitioner. 2. Adv. Sri. M. Sreekumar takes notice for respondents 3 & 8. 3. This writ petition is filed by the petitioner challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents 1 & 2 against the petitioner for recovery of loan amounts due from the petitioner to the respondents 1 & 2. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. W.P.(C)No.26021 of 2011 -2- 4. This is opposed by the learned counsel for the Bank. 5. Having heard both sides, I dispose of this writ petition with the following directions: At the time of admission on 30.09.2011 I directed the petitioner to pay Rs.2 lakhs. It is admitted that the said amount has been paid. The petitioner shall pay the balance amounts on or before 31.03.2012. Further proceedings under the Act shall be kept in abeyance till 31.03.2012. However, if the petitioner does not pay the balance amounts due on or before 31.03.2012, it would be open to the respondents 1 & 2 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. It would be open to the petitioner to approach the Bank for the benefits of One Time Settlement, which shall be considered by the Bank and appropriate orders passed. However if the petitioner avails of the benefits of One Time Settlement, the amounts shall be paid in accordance with W.P.(C)No.26021 of 2011 -3- the orders on the application for One Time Settlement and not in accordance with this judgment. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/