IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 14TH JULY 2008 / 23RD ASHADHA 1930 WP(C).No. 20235 of 2008(H) -------------------------- PETITIONER: ---------------- A.G.PUSHPADAS, N.N.HOUSE, MUTHUVALLOORKONAM, NARUVAMMODU P.O. VIA NEMOM, THIRUVANANTHAPURAM. BY ADV. SRI.M.R.SARIN SRI.M.R.SASITH RESPONDENT: ------------------- AUTHORISED OFFICER, LIC HOUSING FINANCE LTD., 2ND FLOOR, LEELA TOWERS, KESAVADASAPURAM, THIRUVANANTHAPURAM. BY SRI. R.S. KALKURA -SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ------------------------------------ W.P.(C)No.20235 OF 2008 ---------------------------------------- Dated this the 14th day of July, 2008 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. But the petitioner does not dispute the liability to pay or the quantum. The petitioner only wants facility to pay the amounts in instalments. 2. The learned Standing Counsel for the respondent opposes the prayers. According to the learned Standing Counsel, the bank has already taken possession of the property and the petitioner has not cared to pay the amounts even after sufficient time was granted to him. 3. Having heard both sides, I feel that some more indulgence can be shown to the petitioner in the matter of re- payment of the amounts in instalments. Accordingly, the writ petition is disposed of with the following directions. The petitioner shall pay an amount of Rs.2.5 lakhs within a period of one month. The balance amount shall be paid in five W.P.(c)No.20235/08 2 equal monthly instalments starting from 1.10.2008. After payment of the Rs.2.5 lakhs, the petitioner shall be given a statement of accounts showing the balance amount due. If the petitioner pays the Rs.2.5 lakhs and the subsequent instalments in time on the due dates, further coercive action shall be kept in abeyance. However, if the petitioner commits default in payment of either the Rs.2.5 lakhs or any of the subsequent 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.20235/08 3