IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 4TH JULY 2011 / 13TH ASHADHA 1933 WP(C).No. 17617 of 2011(B) -------------------- PETITIONER : -------------------- NISA KARIM, THENMAYIL VEEDU, KAITHAKODU, KULATHUPUZHA, KOLLAM. BY ADV. SRI. SYAM J. SAM RESPONDENT(S): ------------------------- 1. CHIEF MANAGER, UNION BANK OF INDIA, KOTTARAKARA BRANCH, KOLLAM, PIN - 691 506. 2. AUTHORISED OFFICER (CHIEF MANAGER) UNION BANK, M.G.ROAD, THIRUVANANTHAPURAM, PIN -691 501. R1 & R2 BY ADV. SRI. A.S.P. KURUP, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 17617 of 2011(B) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.S. TO JUDGE Mn S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 17617 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 4th day of June, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts taken from the Union Bank of India, Kottarakkara branch. The bank initiated proceedings under the SARFAESI Act. This is under challenge in this writ petition. 2. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks time to regularise the account and pay off the balance in instalments as per the loan agreement on the due dates. This is opposed by the counsel for the bank. Having heard both sides, I dispose of this writ petition with the following directions: The petitioner shall pay all amounts required for regularising the loan account within one month from today. Thereupon, the respondent shall regularize the loan account of the petitioner and permit the petitioner to pay off the instalments in accordance with the original loan agreement on the due dates. If the petitioner pays the amount required for regularizing the loan account and pays the instalments as per the original loan agreement within the due dates without default, further proceedings shall be kept in abeyance. However, if the petitioner violates any of the conditions, it would be open to the W.P(C) No. 17617 of 2011 -: 2 :- respondent to initiate further coercive proceedings, without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/