IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 11TH JUNE 2008 / 21ST JYAISHTA 1930 WP(C).No. 8259 of 2008(G) ------------------------- PETITIONER: ------------ T.V.VASUDEVAN, AGED 42 YEARS S/O.VELAPPAN, THAMARASSERY HOUSE P.O.PUNNAYURKULAM, THRISSUR DISTRICT. BY ADV. SRI.RAJIT SRI.RANJIT BABU RESPONDENTS: ------------- 1. THE GENERAL MANAGER SOUTH MALABAR GRAMIN BANK, HEAD OFFICE MALAPPURAM. 2. SOUTH MALABAR GRAMIN BANK VADAKKEKAD BRANCH, THRISSUR, REPRESENTED BY ITS MANAGER. BY ADV. SRI.T.R.RAVI SRI. U.K. RAMAKRISHNAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 8259 of 2008 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 11th June, 2008. J U D G M E N T Petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioner does not dispute the liability or the quantum. He only seeks facility to pay the amount in instalments. 2. I have heard the learned standing counsel for respondents also who opposes the same. 3. After having beard both sides, I think that some leniency can be shown to the petitioner in the matter of payment of balance amount in instalments. Accordingly, the writ petition is disposed of directing the respondents to permit the petitioner to pay off the balance amount in four equal monthly instalments starting from 1-7- 2008. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment in time, further coercive proceedings pursuant to Ext. P1 shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, the respondents can continue proceedings as now initiated without having to issue any fresh notice or proceedings . Sd/- S. Siri Jagan, Judge. Tds/ [True copy] P.S to Judge.