IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 17TH AUGUST 2011 / 26TH SRAVANA 1933 WP(C).No. 22315 of 2011(L) -------------------------- PETITIONER(S): ---------------------- REMA M.J., W/O. S.VENUGOPAL, PROPRIETRIX, M/S. VISHNU HOLLOW BRICKS, BHASKARA VILLA, PARASUVAIKAL P.O., PARASSALA, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.BIJU BALAKRISHNAN RESPONDENT(S): ------------------------ 1. INDIAN BANK, PARASSALA BRANCH, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGER, PIN-695 137. 2. THE AUTHORIZED OFFICER, INDIAN BANK, NALANCHIRA, M.C.ROAD, THIRUVANANTHAPURAM, PIN-695 015. BY ADV. SRI. P. MARTIN JOSE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 22315 of 2011(L) ----------------------------------- APPENDIX -------------- PETITIONER'S EXHIBITS ------------------------------------ EXT.P1. COPY OF THE NOTICE DT. 12.10.2010 OF THE 2ND RESPONDENT. EXT.P2. COPY OF THE SALE NOTICE DT. 7.2.2011 ISSUED BY THE 2ND RESPONDENT. EXT.P3.COPY OF THE OBJECTION DT. 24.02.2011 FILED BY THE PETITIONER. EXT.P4.COPY OF THE REPRESENTATION DT. 24.02.2011 SUBMITTED BY THE HUSBAND OF THE PETITIONER BEFORE THE 1ST RESPONDENT. EXT.P5. COPY OF THE REPRESENTATION DT. 24.02.2011 SUBMITTED BY THE HUSBAND OF THE PETITIONER BEFORE THE 2ND RESPONDENT. EXT.P6. COPY OF THE LETTER DT. 01.03.2011 OF THE 2ND RESPONDENT. EXT.P7. COPY OF THE SALE NOTICE DT. 10.06.2011 ISSUED BY THE 2ND RESPONDENT. EXT.P8.COPY OF THE REPRESENTATION DT. 2.07.2011 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT. EXT.P9. COPY OF THE NOTICE DT. 13.07.2011 OF THE 1ST RESPONDENT. EXT.P10. COPY OF THE REPRESENTATION DT. 14.07.2011 SUBMITTED BY THE HUSBAND OF THE PETITIONER BEFORE THE 1ST RESPONDENT. EXT.P11. COPY OF THE LETTER DT 14.07.2011 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. EXT.P12. COPY OF THE PUBLICATION TENDER CUM AUCTION SALE NOTICE DT. 18.07.2011. EXT.P13. COPY OF THE RECEIPTS. RESPONDENT'S EXHIBITS : NIL -------------------------------------- / TRUE COPY / P.A. TO JUDGE VK S.SIRI JAGAN, J. ================== W.P.(C).No. 22315 of 2011 ================== Dated this the 17th day of August, 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 amount due in ten equal monthly instalments starting from 1.10.2011. 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, coercive proceedings for recovery of the amounts shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, 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. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2