IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 4TH APRIL 2008 / 15TH CHAITHRA 1930 WP(C).No. 11570 of 2008(B) -------------------------- PETITIONER: ------------ 1. K. MANIKKAN, AGED 46 YEARS, S/O. KUPPAYI, RESIDING AT KOVILPALAYAM HOUSE, RAMASSERRI, ELAPPULLY GRAMA PANCHAYATH, PALGHAT-678 622. 2. BABU GEORGE, AGED 46 YEARS, S/O. PAILY GEORGE, RESIDING AT PUNCHAKUNNEL P.O., MONIPILY, UZHAVOOR TALUK, KOTTAYAM. BY ADV. SRI.A.T.ANILKUMAR SRI.P.DALBI EMMANUEL RESPONDENTS: ------------- 1. THE BANK OF INDIA, ZONAL OFFICE, KERALA ZONE, KALOOR TOWERS, KALOOR, KADAVANTHRA ROAD, COCHIN-682017. 2. THE AUTHORIZED OFFICER, CHIEF MANAGER, ZONAL OFFICE, KERALA ZONE, KALOOR, KADAVANTHRA RAOD, COCHIN-682017. BY STANDING COUNSEL SRI C.A.JOY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------ W.P.(C) 11570 of 2008 ------------------------------------- Dated: APRIL 4, 2008 JUDGMENT In this writ petition, proceedings have been initiated against the petitioner under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and possession notice has been issued. All that is sought for by the petitioner is an instalment facility to discharge the liability which is less than Rs.4 lakhs. 2. I heard the standing counsel for the bank also. 3. Taking into account the submission made by both sides, this writ petition is disposed of directing that the amount due from the petitioner will be permitted to be paid in four equal monthly instalments. The first instalment will be payable on or before the 30th of April, 2008 and the subsequent instalments on or before the 30th of the succeeding months. Subject to payment as above, further proceedings pursuant to Exts.P1 and P2 will stand deferred. If default is committed, the respondents will be free to continue the proceedings. ANTONY DOMINIC, JUDGE WP(C) 11570/08 Page numbers mt/-