IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 17TH OCTOBER 2011 / 25TH ASWINA 1933 WP(C).No. 27356 of 2011(T) --------------------------------- PETITIONER(S): -------------------- NOUSHAD.A., S/O. ABUBACKER KUNJU, AYANIVILAYIL HOUSE, KIDANGAYAM NORTH, SOORANADU SOUTH, PATHARAM.P.O. KOLLAM DISTRICT-690567. BY ADV. SRI.V.PHILIP MATHEW RESPONDENT(S): -------------------- 1. THE KOLLAM DISTRICT-CO-OPERATIVE BANK LTD., NORTH MYNAGAPALLY BRANCH, MYNAGAPALLY KOLLAM DISTRICT. REPRESENTED BY ITS SECRETARY-690519. 2. THE AUTHORISED OFFICER, HEAD OFFICE, KOLLAM DISTRICT CO-OPERATIVE BANK KOLLAM-691001. R1 & R2 BY ADV. SRI.M.K.CHANDRAMOHAN DAS,SC,KOLLAM CO-O THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 27356/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE CHALAN DATED 29/03/2011. P2: COPY OF THE POSSESSION NOTICE DATED 17/06/2011. P3: COPY OF THE REPRESENTATION DATED 27/06/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.27356 OF 2011 ---------------------------------------------- Dated this the 17th day of October, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents for recovery of amounts due from the petitioner to the respondents in respect of an overdraft facility. 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. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondents shall permit the petitioner to pay off the balance amount due in ten equal monthly instalments starting from 1.12.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further W.P.(C)No.27356/11 2 proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.27356/11 3