IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 8TH DECEMBER 2011 / 17TH AGRAHAYANA 1933 WP(C).No. 30673 of 2011(H) ---------------------------------------- PETITIONER(S): ------------------------- ABDUL AZEEZ, S/O MOIDEEN, HOUSE NO.1/64 B, EAST KIZHAKKETH,P.O,KODUVALLY, KOZHIKODE PIN-673 572. BY ADV. SRI.P.P.BIJU RESPONDENT(S): ---------------------------- 1. STATE BANK OF TRAVANCORE, KALLAI ROAD BRANCH, KALLAI, KOZHIKKODE, PIN- 673 001, REP. BY ITS BRANCH MANAGER. 2. STATE BANK OF TRAVANCORE, STRESSED ASSETS RESOLUTION CENTRE 2ND FLOOR, THAVOT PLACE, KANNUR ROAD, KOZHICODE, PIN- 673 001, REP. BY ITS CHIEF MANAGER/AUTORISED OFFICER. 3. MAMOOTTY KAMBA, S/O.KAMBA ABDULLA, WHITE ROSE, NEAR PAYYANAKAL KAVU, KALLAI, CALICUT- 673 003. R1 & R2 BY ADV. SRI.T.SETHUMADHAVAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.30673/2011 H APPENDIX PETITIONER'S EXHIBITS: EXT.P1 TRUE COPY OF THE FINAL ORDER DTD. 03.10.2011 PASSED BY THE DEBT RECOVERY TRIBUNAL , ERNAKULAM. EXT.P2 TRUE COPY OF THE NOTICE DTD. 28.09.2010 ISSUED BY THE 2ND RESPONDENT TO THE 3RD RESPONDENT. RESPONDENTS' ANNEXURES: ANNEX.R1: COPY OF THE JUDGMENT IN WPC.NO.3311/2011 DTD.4/2/2011 OF THIS HON'BLE COURT. /TRUE COPY/ P.A.TO JUDGE Kss S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.30673 of 2011 ---------------------------------------------- Dated this the 8th day of December, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by respondents 1 and 2 for recovery of loan amounts due from the 3rd respondent for which the petitioner was a surety. The petitioner seeks instalment facility to pay off the amounts. 2. This is opposed by respondents 1 and 2 . They would contend that the 3rd respondent had earlier approached this Court by filing W.P.(C)No.3311/2011, in which, by Annexure-R1 judgment, this Court had given facility to pay off the amounts in instalments. Neither the 3rd respondent nor the petitioner has complied with the directions in that judgment and therefore, the petitioner is not entitled to any further indulgence in the matter is their contention. 3. I have considered the rival contentions. Insofar as the petitioner is only the surety, I am inclined to show some W.P.(C)No.30673/11 2 indulgence to the petitioner to enable him to pay off the amounts in instalments. Accordingly, this writ petition is disposed of with the following directions: The petitioner shall pay an amount of Rs.5 lakhs within one month from today. The balance amount due shall be paid on or before 31.3.2012. If the petitioner pays the above amounts as directed above, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of the Rs.5 lakhs or the balance amount on the due dates as directed above, it would be open to respondents 1 and 2 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. S. SIRI JAGAN, JUDGE acd W.P.(C)No.30673/11 3 W.P.(C)No.30673/11 4