IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 25TH AUGUST 2008 / 3RD BADHRA 1930 WP(C).No. 25328 of 2008(M) -------------------------- PETITIONER: ------------ BINU BENNY, MOOLAYIL MALAYIL, PUTHUPALLY P.O., KOTTAYAM, NOW WORKING AS BSF CONSTABLE NO. 233764, DABLA, JAISALMER RAJASTHAN, REPRESENTED BY POWER OF ATTORNEY HOLDER LIGIMOL.K.C., KUNNUMPURATHU HOUSE, PULICKALKAVALA POST, VAZHOOR, KOTTAYAM DISTRICT. BY ADV. SRI.SURIN GEORGE IPE RESPONDENT: ------------- UCO BANK, KOTTAYAM BRANCH, CYRILS TOWER, NEAR COLLECTORATE, KOTTAYAM- 686 002, REPRESENTED BY ITS MANAGER. BY SHRI.GEORGE K VARGHESE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/08/2008,THE COURT ON 25/08/2008 DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.25328 of 2008 ================== Dated this the 25th day of August, 2008 J U D G M E N T The petitioner is a defaulter in repayment of loan amount due from him to the respondent bank. The bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for coercive recovery, which is under challenge in this writ petition. The petitioner does not dispute the liability to pay or the quantum. Although the petitioner would allege that the petitioner was not served with notices under Section 13 of the Act, which is disputed by the counsel for the bank, the petitioner would confine his relief for a direction to the respondent to permit him to pay off the amounts in instalments. 2. The prayer of the petitioner is opposed by the standing counsel for the Bank. 3. After hearing both sides, I feel that a lenient attitude can be taken in the matter to enable the petitioner to pay off the amounts in instalments on conditions. Accordingly, this writ w.p.c.25328/08 2 petition is disposed of as follows: The petitioner shall pay Rs.75,000/- within one month from today. The balance amount shall be paid in six equal monthly instalments starting from 1.11.2008. 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 in time, coercive proceedings shall be kept in abeyance. However, if the petitioner commits default in payment of the initial amount or any of the instalments, it would be open to the respondent to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. If the petitioner applies for statement of accounts, the same shall be supplied to him by the respondent. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge w.p.c.25328/08 3