IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 10TH JUNE 2008 / 20TH JYAISHTA 1930 WP(C).No. 17187 of 2008(U) -------------------------- PETITIONER: ---------- 1. JOBY K.MATHEW, AGED 37 YEARS, KALLEPARAMBIL HOUSE, PATTITHANAM P.O., ETTUMANOOR, KOTTAYAM,REPRESENTED BY HIS MOTHER AND POWER OF ATTORNEY HOLDER,LEELAMMA MATHEW W/O. MATHEW, AGED 67 YEARS, KALLEPARAMBIL HOUSE PATTITHANAM P.O.,ETTUMANOOR, KOTTAYAM DISRICT. 2. LEENA SUNIL, AGED 42 YEARS, THETTAYIL HOUSE, MAMBALLY PARAMBA, EDAPPALLY P.O. ERNAKULAM DISTRICT. BY ADV. SRI.AVM.SALAHUDIN RESPONDENTS: ------------ 1. UNION BANK OF INDIA, REPRESENTED BY ITS BRANCH MANGER AT M.G.ROAD, P.O.BOX NO.3661, ERNAKULAM. 2. THE AUTHORISED OFFICER, UNION BANK OF INDIA, MAIN BRANCH ERNAKULAM. BY ADV. SRI.ASP.KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ------------------------------------ W.P.(C)No.17187 OF 2008 ---------------------------------------- Dated this the 10th day of June, 2008 JUDGMENT The petitioners are challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. They do not dispute the liability or the quantum. They only want facility to pay the amounts in instalments. This is opposed by the learned standing counsel for the bank. He would submit that the petitioners were not even heard about for quite some time and that was why the bank was constrained to initiate the present proceedings. In spite of request made in that behalf the petitioners did not even renew the security documents is the contention raised by the learned Standing Counsel. 2. Having heard both sides, I feel that some leniency can be shown to the petitioners in the matter of payment of the balance amounts due in instalments. Accordingly, the writ petition is disposed of with the following directions. W.P.(c)No.17187/08 2 The petitioners shall pay an amount of Rs.4 lakhs within one month from today. The balance amounts shall be paid in six equal monthly instalments starting from 1.8.2008. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioners pay the above amounts in time, further proceedings pursuant to Ext.P3 shall be kept in abeyance. However, if the petitioners fail to pay either Rs.4 lakhs or any of the subsequent 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.17187/08 3