IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 14TH DECEMBER 2011 / 23RD AGRAHAYANA 1933 WP(C).No. 33389 of 2011(W) --------------------------------------- PETITIONER: ------------------- SABEENA.S,SHANAVAS MANZIL,KURAMPALA VILLAGE,ADOOR,PATHANAMTHITTA DISTRICT, PIN-689 501. BY ADV. SRI.K.M.VARGHESE. RESPONDENTS: ------------------------ 1. AUTHORIZED OFFICER,PATHANAMTHITTA DISTRICT CO-OPERATIVE BANK LTD,HEAD OFFICE, PATHANAMTHITTA-689 501. 2. PATHANAMTHITTA DISTRICT CO-OPERATIVE BANK LTD.,PANDALAM BRANCH,REPRESENTED BY BRANCH MANAGER-689 501. BY ADV. SRI. P.C. SASIDHARAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).NO.33389/2011-W: APPENDIX PETITIONER'S EXHIBITS:- EXT.P1: TRUE COPY OF THE NOTICE DATED 30.4.2011 UNDER SECTION 13 (2)SARFAESI ACT ISSUED BY THE IST RESPONDENT. EXT.P2: TRUE COPY OF THE REPRESENTATION DATED 18.6.2011 SUBMITTED TO THE RESPONDENT NO.1. EXT.P3: TRUE COPY OF THE RECEIPT DATED 23/06/2011 ISSUED BY THE RESPONDENT NO.1. EXT.P4: TRUE COPY OF THE RECEIPT DATED 19.10.2011 ISSUED BY THE RESPONDENT NO.2. EXT.P5: TRUE COPY OF THE RELEVANT PAGES OF PASSBOOK PERTAINING THE LOAN ACCOUNT ISSUED TO THE PETITIONER. EXT.P6: TRUE COPY OF THE RELEVANT PORTION OF MALAYALA MANORAMA NEWS DAILY DATED 20.11.2011. RESPONDENTS' EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE Prv. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.33389 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 14th day of December, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 02.01.2012. Every subsequent W.P.(C)No.33389 of 2011 -2- 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 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. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/