IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 26TH SEPTEMBER 2011 / 4TH ASWINA 1933 WP(C).No. 25385 of 2011(W) -------------------------------------- PETITIONERS: ------------------- 1. JITHENDRA KUMAR, 31/615, PITHRICHAYA, KACHAPILLY ROAD, VYTTILA, PIN-682019. 2. LATHA JITHENDRA KUMAR, 31/615, PITHRICHAYA, KACHAPILLY ROAD, VYTTILA, PIN-682019. BY ADVS. SRI.DILISH JOHN SRI.K.A.ABHILASH RESPONDENT: -------------------- UCO BANK, M.G. ROAD, RAVIPURAM, 682016. ADV. SRI.GEORGE KARITHANAM VARGHESE, SC, UCO B THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 25385 of 2011(W) APPENDIX PETITIONERS EXHIBITS: EXT.P1 : TRUE COPY OF THE REPORT FROM KERALA FIRE RESCUE DEPARTMENT. EXT.P2 : TRUE COPY OF G.D. ABSTRACT FROM ERNAKULAM TOWN SOUTH POLICE STATION. EXT.P3 : TRUE COPY OF DISCHARGE SUMMARY FROM CARITAS CANCER INSTITUTE. EXT.P4 : TRUE COPY OF MEDICAL CERTIFICATE. EXT.P5 : TRUE COPY OF THE REGISTERED COVER SEND BY THE RESPONDENT TO THE SECOND PETITIONER. EXT.P6 : TRUE COPY OF THE POSSESSION NOTICE. EXT.P7 : TRUE COPY OF THE 13(4) NOTICE PUBLISHED IN MATHRUBHUMI DAILY ON 24.07.2011. EXT.P8 : TRUE COPY OF THE PAPER PUBLICATION DATED 14.09.2011 IN MATHRUBHUMI DAILY. RESPONDENT'S EXHIBITS:NIL. /TRUE COPY/ P.A.TO JUDGE. ln S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.25385 OF 2011 ---------------------------------------------- Dated this the 26th day of September, 2011 JUDGMENT The petitioners challenge proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioners to the respondent bank. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay off the amounts due instalments. 2. This is opposed by the learned counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondent shall permit the petitioners to pay off the balance amount due in five equal monthly instalments starting from 17.10.2011. Every subsequent instalment shall be paid after the 16th of every succeeding month. If the petitioners pay the instalments on due dates without default, further proceedings W.P.(C)No.25385/11 2 under the Act shall be kept in abeyance. However, if the petitioners commit default in payment of any one of the instalments, 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.25385/11 3