IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 19TH DECEMBER 2011 / 28TH AGRAHAYANA 1933 WP(C).No. 33920 of 2011(L) -------------------------------------- PETITIONER(S): ------------------------ HAMEED THANALOTT, ZEENATH MANZIL, NARAYANPARA, ULIYIL P.O., KANNUR DISTRICT. BY ADV. SRI.O.D.SIVADAS RESPONDENT(S): ------------------------- 1. THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, REGIONAL OFFICE, KANNUR-670 703. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, IRITTY BRANCH, KANNUR DISTRICT, PIN-670 703. BY GOVERNMENT PLEADER SMT. SOBHA ANNAMMA EAPEN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VPV WPCNO.33920/2011 APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 23.04.2010 ISSUED BY THE RESPONDENT. EXT.P2: COPY OF THE LETTER DATED 7.12.2011 ISSUED BY THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE VPV S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33920 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 19th day of December, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability or quantum. The petitioner only seeks a facility to pay the amounts in instalments. 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 amounts demanded in eight monthly instalments starting from 1.2.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amounts on the due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions or in paying any one instalment, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/