IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 19TH SEPTEMBER 2011 / 28TH BHADRA 1933 WP(C).No. 24874 of 2011(H) -------------------------- PETITIONER(S): --------------- ANILKUMAR.D., PROPRIETOR, M/S.NAMA AGENCIES, RESIDING AT REVATHY VETTINADU, VATTAPARA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.S.EASWARAN SRI.P.MURALEEDHARAN (IRIMPANAM) SRI.VARUGHESE CHERIAN RESPONDENT(S): --------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS AUTHORISED OFFICER & CHIEF MANAGER, REGION III, ZONAL OFFICE, SANTHINAGAR, THIRUVANANTHAPURAM. ADV.R.S.KALKURA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No. 24874/2011 APPENDIX PETITIONER(S)' EXHIBITS P1. COPY OF THE RECEIPT FOR PAYMENT OF Rs. 5,00,000/- P2. COPY OF THE ORDER DTD.17.8.11 OF C.J.M. COURT, THIRUVANANTHAPURAM IN MC.NO.155/2011. sdk+ ///True copy/// P.A. to Judge S.SIRI JAGAN, J. ================== W.P.(C).No. 24874 of 2011 ================== Dated this the 19th day of September, 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 four 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