IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 6TH SEPTEMBER 2011 / 15TH BHADRA 1933 WP(C).No. 24264 of 2011(G) ---------------------------------------- PETITIONER(S): ----------------------- M.A.ABBAS,AGED 48 YEARS, S/O.BUHARI,ARATTUPARAMBIL HOUSE, GANESAMANGALAM VATANAPPILLY,THRISSUR. BY ADV. SRI.K.A.SREEJITH RESPONDENT(S): ------------------------------ UNION BANK OF INDIA,TUDA BUILDINGS, SALTHAN ARCADE,THRISSUR 680 001,REP.BY ITS AUTHORISED OFFICER AND THE CHIEF MANAGER. BY ADV. SRI.A.S.P.KURUP, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.24264/2011 APPENDIX PETITIONER(S) EXHIBITS EXHIBIT P1 TRUE TRUE COPY OF CRL.MP 3668/11 BEFORE CHIEF JUDICIAL MAGISTRATE COURT,THRISSUR. EXHIBIT P2 THE TRUE COPY OF THE NOTICE OF C.P.ROJAN ADVOCATE COMMISSIONER ISSUED TO PETITIONER. RESPONDENTS' EXHIBITS NIL:- TRUE COPY P.A. TO JUDGE tss S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.24264 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 6th day of September, 2011 J U D G M E N T The petitioner is a defaulter in repayment of loan amount due from him to the respondent. The respondent has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to regularise the loan account by paying the outstanding defaulted instalments and to continue to pay the balance instalments in accordance with the original loan agreement. This is opposed by the counsel for the Bank. However taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the amount required to regularise the loan account within one month from today. On payment of the same, the respondent shall regularise W.P.(C)No.24264 of 2011 -2- the loan account and allow the petitioner to continue to pay the future installments of repayment of loan as per the original loan agreement on due dates without default. If the petitioner complies with the above directions strictly, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of the amounts required for regularising the loan account or any of the future instalments on due dates, 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. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/