IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 11TH AUGUST 2011 / 20TH SRAVANA 1933 WP(C).No. 21978 of 2011(V) ------------------------- PETITIONER : --------------------- RAMESH KUMAR, MEKKATTU HOUSE, KIZHAKKEPPURAM, NORTH PARUR P.O., ERNAKULAM. BY ADVS. SRI.P.SANKARANKUTTY NAIR SRI.K.SANDESH RAJA RESPONDENT : ----------------------- UNION BANK OF INDIA, NORTH PARAVUR BRANCH, PIN 683 513, REPRESENTED BY CHIEF MANAGER AND AUTHORISED OFFICER C.P.AJAYAN. BY ADV. SRI. A.V. THOMAS, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 21978 of 2011(V) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE NOTICE DATED 21.1.2011. EXT.P2 : COPY OF THE NOTICE DATED 8.8.2011. EXT.P3 : COPY OF THE REPRESENTATION DATED 10.8.2011. EXT.P4 : COPY OF THE REPRESENTATION DATED 10.8.2011. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.A. TO JUDGE Mn S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.21978 OF 2011 ---------------------------------------------- Dated this the 11th day of August, 2011 JUDGMENT The petitioner is challenging proceedings initiated by the respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of loan amounts due from the petitioner to the respondent bank. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks permission to regularise the loan account by paying the defaulted instalments of repayment of loan amounts and to continue to pay the future instalments as per the original loan agreement on due dates. 2. This is opposed by the learned counsel for the bank. He submits that even for regularising the loan account, the petitioner has to pay an amount of Rs.3,83,693/-. 3. Having heard both sides, I am of opinion that the respondent can show some more leniency to the petitioner to permit him to regularise the loan account by paying the outstanding defaulted instalments. W.P.(C)No.21978/11 2 4. Accordingly, the writ petition is disposed of with the following directions: The petitioner shall pay the defaulted instalments of repayment of loan amount with interest due thereon within two weeks from today. If the petitioner complies with the above direction, the respondent shall permit the petitioner to regularise the loan account and to continue payment of the future instalments on due dates as per the original loan agreement. If the petitioner pays the defaulted outstanding as also future instalments on due dates, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of either the amount required for regularising the loan account or any one of the future instalments, 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 acd The words “two weeks' occurring in the fifth line of paragraph 4 of the judgment dated 11/08/2011 in WP(C) 21978/2011 are corrected and substituted as “six weeks” vide order dated 13/10/2011 in I.A.15934/2011. Sd/- Registrar (Judicial) W.P.(C)No.21978/11 3 W.P.(C)No.21978/11 4