IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH OCTOBER 2011 / 26TH ASWINA 1933 WP(C).No. 27484 of 2011(I) --------------------------------------- PETITIONER(S): ------------------------ JOBY THOMAS, AGED 48 YEARS, S/O. THOMAS, PEPPATHIYIL HOUSE, OONNUKAL.P.O, NAMBOORICOOP, ERNAKULAM DISTRICT. BY ADV. SRI.S.DILEEP (KALLAR) RESPONDENT(S): --------------------------- 1. THE STATE OF KERALA, REPRESENTED BY THE SECRETARY, REVENUE DEPARTMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM.PIN-695 001 2. DEPUTY TAHSILDAR (REVENEU RECOVERY), TALUK OFFICE, KOTHAMANGALAM.PIN-686 661 3. THE MANAGER, CANARA BANK, KOTHAMANGALAM BRANCH, KOTHAMANGALAM.PIN-686 662 R1 & R2 BY GOVERNMENT PLEADER SMT.C.K.SHERIN R3 BY ADV.SRI.P.GOPINATH MENON THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/10/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.27484/2011 APPENDIX PETITIONER(S) EXHIBITS EXHIBIT-P1- TRUE COPY OF THE NOTICE NO. 712.840.19035, 898-19036 DATED 08/10/2010 ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER. EXHIBIT-P2- TRUE COPY OF THE REPRESENTATION DATED 09/11/2010 SUBMITTED BY THE PETITIONER TO THE 3RD RESPONDENT. EXHIBIT-P3- TRUE COPY OF THE DEMAND NOTICE NO. 2011/602/7/600 (8350/11) DATED 03/10/2011. RESPONDENTS' EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. ------------------------------------------------- W.P.(C)No.27484 OF 2011 ------------------------------------------------- DATED THIS THE 18th DAY OF OCTOBER, 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 respondents 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 01-11-2011. 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 W.P.(C) No.27484/2011 -2- the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN, JUDGE. AMG True copy P.A to Judge