IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 23RD NOVEMBER 2011 / 2ND AGRAHAYANA 1933 WP(C).No. 31157 of 2011(T) ------------------------------------ PETITIONER(S) : ------------------ V.P. VENUGOPALAN, PURAVASSERY HOUSE, CHELANOOR POST, KOZHIKODE - 673 616. BY ADV. SRI.P.RAVINDRANATH RESPONDENT(S): --------------- 1. KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., KALLAI ROAD, KOZHIKODE - 673 002, REPRESENTED BY ITS AUTHORISED OFFICER. 2. THE BRANCH MANAGER, KOZHIKODE DISTRICT CO-OPERATIVE BANK, KAKKODI BRANCH, KOZHIKODE - 673 008. R1 & R2 BY ADV. P.V. KUNHIKRISHNAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING : NS W.P.C.NO. 31157/2011 APPENDIX PETITIONER'S EXHIBITS : EXT. P1 : COPY OF THE NOTICE DATED 1.03.2011 ISSUED TO THE PETITIONER. EXT. P2 : COPY OF THE COMMUNICATION ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENT'S EHIBITS : NIL / TRUE COPY / P.A. TO JUDGE NS S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.31157 of 2011 ---------------------------------------------- Dated this the 23rd day of November, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents for recovery of loan amounts due from the petitioner to the respondents. The petitioner does not dispute the liability to pay or the quantum. He only seeks time, in view of the very pathetic situation he is in. He points out that, after a prolonged treatment for cancer, his wife died in 2008 and he had to incur very heavy expenses for the treatment. Subsequently, his mentally unsound daughter went missing, who was ultimately traced in Mysore in 2010. Her mental condition is unstable and she is presently undergoing treatment in a mental hospital, for which also the petitioner has to shell out considerable money. He has another daughter also. The petitioner, therefore, seeks three months' time to pay off the amounts due. W.P.(C)No.31157/11 2 2. This is opposed by the learned counsel for the bank. 3. In view of the peculiar circumstances in which the petitioner is in, I am of opinion that it is only just and proper that the petitioner be given some more time to pay off the amounts due. 4. Accordingly, I direct the respondents to grant the petitioner three more months' time to pay off the amounts due. If the petitioner pays the amounts within the said three months, further proceedings under the Act shall be kept in abeyance. However, if the petitioner does not pay the amount within the said period, 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. The writ petition is disposed of as above. S. SIRI JAGAN, JUDGE acd W.P.(C)No.31157/11 3 W.P.(C)No.31157/11 4