IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH JANUARY 2011 / 28TH POUSHA 1932 WP(C).No. 1651 of 2011(F) ------------------------------------- PETITIONER: ------------------- SREEKUMAR, AGED 32 YEARS, S/O.SUKUMARAN NAIR,ANJALI,VADACODE,NEYYATTINKARA POST,THIRUVANANTHAPURAM DISTRICT, PIN-695 121. BY ADV. SRI.SIJO GEORGE. RESPONDENT: ---------------------- THE AUTHORISED OFFICER, M/S.HDFC LTD, HDFC HOUSE,VAZHUTHACAUD,THIRUVANANTHAPURAM, PIN-695 010. BY SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE, ADV. SRI.A.S.SAJUSH PAUL. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 1651 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 18th day of January, 2011 J U D G M E N T The petitioner is challenging proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). But the petitioner does not dispute the liability to pay or quantum. The petitioner only seeks installment facility to pay off the amount. This is opposed by the standing counsel for the respondent who submits that the petitioner has been given sufficient opportunity to pay off the amount which he has not availed off. However I am of the opinion that the respondent can take a lenient view in the matter. Accordingly the writ petition is disposed of with the following directions: The petitioner shall pay an amount of `17,00,000/- (Rupees Seventeen lakhs only) within one month from today. The balance amount due shall be paid in ten (10) equal monthly W.P.(C)No. 1651 of 2011 -2- installments starting from 01.04.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the initial amount and the instalments on the due dates without default, further proceedings pursuant to the impugned order shall be kept in abeyance. However, if the petitioner commits default in payment of `17,00,000/- or any one installment on the due date, the respondent can 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/-