IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 2ND DECEMBER 2011 / 11TH AGRAHAYANA 1933 WP(C).No. 30842 of 2011(E) ------------------------ PETITIONER : --------------------- N.A.SUNEER, AGED 43 YEARS, S/O.ABDUL KADER, PROPRIETOR, FATHIMA WIRE CUT BRICKS, VAZHAKUZHI, KOLLENGODE, PALAKKAD DISTRICT, PIN-678506. BY ADV. SRI.B.RAMACHANDRAN RESPONDENT : ----------------------- PUNJAB NATIONAL BANK, KOLLENGODE BRANCH, SRI.COMPLEX, POLLACHI ROAD, PIN-678506, REPRESENTED BY ITS BRANCH MANAGER. BY ADV. SRI.C.AJITH KUMAR THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 02/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 30842 of 2011(E) APPENDIX PETITIONERS' EXHIBITS : EXHIBIT P1: TRUE COPY OF NOTICE DATED 12-9-2011 ISSUED BY THE RESPONDENT TO THE PETITIONER. EXHIBIT P2: TRUE COPY OF REPLAY LETTER DATED 2/11/2011. RESPONDENTS' EXHIBITS : NIL //TRUE COPY// P.A. TO JUDGE Mn S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.30842 of 2011 ---------------------------------------------- Dated this the 2nd day of December, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioner to the respondent bank. 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. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondent shall permit the petitioner to pay off the balance amount due in ten equal monthly instalments starting from 2.1.2012. Every subsequent 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 W.P.(C)No.30842/11 2 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 respondent 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.30842/11 3