IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 10TH AUGUST 2011 / 19TH SRAVANA 1933 WP(C).No. 20910 of 2011(K) -------------------------- PETITIONER : -------------------- ZEENATH M., D/O.T.P.MAHAMOOD HAJI, MARINE PLAZA, ABAD BUILDING, MARINE DRIVE, NEAR HIGH COURT, ERNAKULAM. BY ADVS. SRI.A.MOHAMED MUSTAQUE SRI.K.R.AVINASH (KUNNATH) SRI.C.H.ABDUL RASAC RESPONDENT(S): ------------------------- 1. THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, KANNUR MAIN BRANCH, FORT ROAD, KANNUR - 670 001. 2. THE STATE BANK OF TRAVANCORE, KANNUR MAIN BRANCH, FORT ROAD, KANNUR - 670 001, REPRESENTED BY MANAGER. R1 & R2 BY ADVS. SRI.T.SETHUMADHAVAN, SC SRI.PUSHPARAJAN KODOTH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 20910 of 2011(K) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE NOTICE DATED 5.4.2011 ISSUED BY RESPONDENT BANK. EXT.P2 : COPY OF THE POSSESSION NOTICE DATED 5.7.2011 PUBLISHED IN MATHRUBHUMI DAILY. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.S. TO JUDGE Mn S.SIRI JAGAN, J. ================== W.P.(C).No. 20910 of 2011 ================== Dated this the 10th day of August, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of the loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks some time to pay the amounts due. 2. This is opposed by the learned standing counsel for the bank. 3. Having heard both sides, I am of opinion that some more leniency can be shown to the petitioner in the matter of paying off the amounts due. Accordingly, this writ petition is disposed of with the following directions: The petitioner shall pay an amount of ` 4 lakhs within one month from today. The petitioner shall pay the balance amount due in another three months. If the petitioner complies with the above directions without default, coercive proceedings for recovery of the amounts shall be kept in abeyance. However, if the petitioner fails to comply with anyof the directions as stated above, 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/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge