IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 21ST JULY 2008 / 30TH ASHADHA 1930 WP(C).No. 21859 of 2008(B) -------------------------- PETITIONER: -------------- S.HARI MURALI, AGED 50, S/O.SREEDHARA PANICKER, TC 41/851, THYCAUD, THIRUVANANTHAPURAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENTS: ----------------- 1. THE ASST VP & AUTHORISED OFFICER, LNG VYSYA BANK LIMITED, REGIONAL OFFICE, PARAPILLIL ARCADE, PANAMPILLY NAGAR, KOCHI-682 036. 2. THE BRANCH MANAGER, LNG VYSYA BANK LTD, JACOB JUNCTION, NEAR SPENCER, PONNAN ROAD, PUTHENCHANTHA, THIRUVANANTHAPURAM. BY SRI.R.S.KALKURA, SC FOR ING VYSYA BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 21859 OF 2008 B ==================== Dated this the 21st day of July, 2008 J U D G M E N T The challenge in this writ petition is against Ext.P3, a notice issued by the respondent Bank exercising its powers under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Though several contentions are urged in the writ petition, all that is pressed before me is for an order enabling the petitioner to discharge the liability in instalments. 2. I heard the counsel for the respondent Bank also. 3. Having heard both sides, I feel an opportunity should be granted to the petitioner to discharge the liability in instalments. 4. Accordingly, the writ petition is disposed of with the following directions. i) That within one month from today, out of the amounts that are due from the petitioner, the petitioner shall pay an amount of Rs. 4 lakhs (Rupees four lakhs only) to the respondent Bank and subject to such payment, further proceedings pursuant to Ext.P3 will stand stayed. ii) It is directed that the balance amount due shall be paid by the WPC 21859/08 :2 : petitioner in five equal monthly instalments, the first of which will be paid by the petitioner before 15/9/2008 and the subsequent instalments before 15th of every succeeding month. iii) It is directed that in case the petitioner commits default in paying any one of the instalments, the Bank will be free to continue the proceedings without further notice to the petitioner. ANTONY DOMINIC, JUDGE Rp