IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 28TH JUNE 2011 / 7TH ASHADHA 1933 WP(C).No. 33324 of 2007(P) --------------------------------------- PETITIONER(S): ------------------------ 1. SMT.SHAILA.K., W/O.SATHYAN, ROOM NO.C-43, NEW NURSES HOSTEL, MEDICAL COLLEGE P.O., THIRUVANANTHAPURAM. 2. A.SATHYAN, S/O.APPUKUTTAN, AGED 40 YEARS, SOUPARNIKA, TC 6/1582, THOROTTUKONAM, THURUVIKAL P.O., THIRUVANANTHAPURAM. BY ADV. SRI.BECHU KURIAN THOMAS RESPONDENT(S): --------------------------- 1. INDIAN BANK, INDIAN BANK TOWERS, M.G.ROAD, THIRUVANANTHAPURAM, REPRESENTED BY ITS CHIEF MANAGER. 2. CHIEF MANAGER (AUTHORIZED OFFICER), INDIAN BANK, INDIAN BANK TOWERS, THIRUVANANTHAPURAM. 3. THE MANAGER, INDIAN BANK, THOLICODU BRAND, THIRUVANANTHAPURAM. R1 TO R3 BY ADV. SRI.S.SREEKUMAR THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 28/06/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.33324/2007 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE PASSBOOK OF ACCOUNT 5946 ISSUED BY THE 2ND RESPONDENT WITH ENTRIES STARTING FROM 19/10/2002 TO 5/11/2007. P2 COPY OF THE NOTICE ISSUED UNDER SECTION 13(2) OF THE SECURITISATION ACT ISSUED BY THE 2ND RESPONDENT TO THE PETITIONERS. P3 COPY OF THE OBJECTION FILED BY THE 1ST PETITIONER DATED 10/7/07. P4 COPY OF THE REPLY LETTER DATED 14/7/07 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER. P5 COPY OF THE NOTICE DATED 31/10/2007 ISSUED BY THE 2ND RESPONDENT. P6 COPY OF THE REPRESENTATION DATED 3/11/07 SUBMITTED BY THE PETITIONERS TO THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.S.TO.JUDGE sts S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33324 of 2007 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 28th day of June, 2011. J U D G M E N T The petitioners are defaulters in repayment of loan amounts taken by them from the 1st respondent-Bank. The Bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, challenging which the petitioners have filed this writ petition. 2. When the writ petition was admitted, this Court passed an interim order to the effect that since the petitioners offer to settle the liability, further proceedings pursuant to the impugned order shall be kept in abeyance for 3 weeks. That interim order was extended from time to time ad ultimately it was extended until further orders on 3.1.2007. The petitioners now submit that subsequent to the interim order, the petitioners continued to pay instalment amounts due under the loan and they are prepared to pay the balance amounts due under the loan account within 2 months. In the above circumstances, this writ petition is disposed of with a direction that if the petitioners pay the balance amounts due under the loan account within 2 months, no further proceedings shall be taken pursuant to the impugned orders. But, if the loan account is not settled within the said time, the respondent can continue proceedings as per the impugned W.P(C) No. 33324 of 2007 -: 2 :- proceedings without having to issue any further notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/