IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 12TH DECEMBER 2011 / 21ST AGRAHAYANA 1933 WP(C).No. 33001 of 2011(A) ---------------------------------- MC.66/2011 of CHIEF JUDICIAL MAGISTRATE COURT,TRIVANDRUM .................... PETITIONER(S): ------------------- INDIRA,AGED 65,W/O.LATE GOPALAKRISHNAN, KARTHIKA,POOZHANADU PO,THIRUVANANTHAPURAM. BY ADV. SRI.SHAJIN S.HAMEED RESPONDENT(S): --------------------- THE AUTHORIZED OFFICER,ORIENTAL BANK OF COMMERCE,M.G.ROAD, THIRUVANANTHAPURAM, PIN CODE 695 001. BY ADV. SRI.N.RAJAGOPALAN NAIR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 33001/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE PETITION FILED BY THE RESPONDENT AS MC NO.66/2011 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. P2: COPY OF THE NOTICE ISSUED TO THE PETITIONER BY THE CHIEF JUDICIAL MAGISTRATE,THIRUVANANTHAPURAM. P3: COPY OF THE ADVOCATE COMMISSIONER'S NOTICE DATED 7/11/2011 RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S.SIRI JAGAN, J. ================== W.P.(C).No. 33001 of 2011 ================== Dated this the 12th day of December, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondent 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 facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in ten equal monthly instalments starting from 2.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the 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/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge - : 2 :-