IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 29TH MAY 2008 / 8TH JYAISHTA 1930 WP(C).No. 15104 of 2008(W) -------------------------- PETITIONER: ------------ M.K. JABBAR HAJI, AGED 48 YEARS, S/O. SOOPPY HAJEE, REJEENA COTTAGE, MATTANNUR, KANNUR DISTRICT. BY ADV. SRI.C.P.PEETHAMBARAN RESPONDENTS: ------------- 1. NORTH MALABAR GRAMIN BANK, MATTANNUR P.O., KANNUR DISTRICT, REPRESENTED BY ITS MANAGER. 2. THE CHAIRMAN, NORTH MALABAR GRAMIN BANK, KANNUR 3. THE AUTHORISED OFFICER, NORTH MALABAR GRAMIN BANK, MATTANNUR P.O., KANNUR DISTRICT. 4. THE BOARD OF DIRECTORS, NORTH MALABAR GRAMIN BANK, REPRESENTED BY THE CHAIRMAN, KANNUR. BY ADV. SRI.DEVAN RAMACHANDRAN FOR R.1,2 SRI.K.M.ANEESH FOR R.1,2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 15104 of 2008 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 29th May, 2008. J U D G M E N T Petitioner is a defaulter in repayment of loan amounts due from him to the 1st respondent-Bank. The Bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the loan amount. The petitioner is challenging the same. However, the petitioner now confines his relief for a direction to the respondents to permit the petitioner to pay off the amounts in instalments. This is opposed by the standing counsel for respondents. According to him, the petitioner was given sufficient opportunity to pay off the amounts which the petitioner has not availed of and therefore he is not entitled to any further indulgence. 2. After having heard both sides, I feel that a lenient attitude can be taken in the matter by allowing the petitioner to pay the amount in instalments. Accordingly, the writ petition is disposed of with the following directions. The petitioner shall pay Rs. 3 lakhs within one month from today. The balance amount due shall be paid in six equal monthly instalments starting from 1-8-2008. The subsequent instalments shall be paid on the first working day of every succeeding month. If the petitioner pays the initial amount of Rs. 3 lakhs and the subsequent instalments in time without default, the proceedings now initiated shall be kept in abeyance. However, if the petitioner fails to pay either Rs. 3 lakhs or any of the instalments on the due dates, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in this regard. Sd/- S. Siri Jagan, Judge. Tds/ [True copy] P.S to Judge.