IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 3RD OCTOBER 2011 / 11TH ASWINA 1933 WP(C).No. 25765 of 2011(U) -------------------------- CMP.5792/2011 of C.J.M.,KOLLAM .................... PETITIONER: ----------- SUSEELA, AGED 56, W/O.LATE RAVEENDRAN RESIDING AT PUTHANIZHIKAM, MUNDACKAL EAST,KOLLAM. BY ADV. SRI.A.AHZAR RESPONDENT: ----------- THE AUTHORISED OFFICER KOLLAM CO-OPERATIVE URBAN BANK LTD.NO.960 KOLLAM 691 001. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 03/10/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JJJ WP(C).No. 25765 of 2011(U) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 TRUE COPY OF RECEIPT EXT.P2 TRUE COPY OF THE NOTICE DT.15.11.2010 ISSUED BY THE BANK. EXT.P3 TRUE COPY OF THE NOTICE DT.9.8.2011 BY THE ADVOCATE COMMISSIONER. RESPONDANTS'S EXHIBITS: NIL //TRUE COPY// P.A.TO JUDGE JJJ S.SIRI JAGAN, J. ================== W.P.(C).No. 25765 of 2011 ================== Dated this the 3rd day of October, 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 respondent 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 amounts due in ten equal monthly instalments starting from 1.11.2011. 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, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, it would be open to the respondent 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