IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 8TH JULY 2011 / 17TH ASHADHA 1933 WP(C).No. 18590 of 2011(W) ---------------------------------------- PETITIONER(S): ----------------------- DR. RAJAGOPALAN NAIR, MURANIYIL HOUSE, COLLECTORATE. P.O., KOTTAYAM, KOTTAYAM DISTRICT. BY ADV. SRI.M.V.THAMBAN SRI.R.REJI SMT.THARA THAMBAN SRI.B.BIPIN SMT.REVATHY P.NAIR RESPONDENT(S): --------------------------- 1. THE STATE BANK OF INDIA, REPRESENTED BY ITS AUTHORIZED OFFICER/CHIEF MANAGER, RASMECCC, CHANGANACHERRY, KOTTAYAM DISTRICT, PIN-686 101. 2. THE AUTHORIZED OFFICER/CHIEF MANAGER, STATE BANK OF INDIA, RASMECCC, CHANGANACHERRY, KOTTAYAM DISTRICT-686 101. 3. THE BRANCH MANAGER, STATE BANK OF INDIA LTD., KOTTAYAM BRANCH , KOTTAYAM-686 001. R1 TO R3 BY ADV. MR.P.V. SURENDRANATH, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 18590 of 2011(W) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE PAY-IN-SLIP DATED 08/06/2007, ISSUED BY THE RESPONDENT BANK. EXT.P1(a): COPY OF THE PAY-IN-SLIP DATED 07/07/2007 ISSUED BY THE RESPONDENT BANK. EXT.P1(b): COPY OF THE PAY-IN-SLIP DATED 28/03/2008 ISSUED BY THE RESPONDENT BANK. EXT.P1(c): COPY OF THE PAY-IN-SLIP DATED 11/08/2009 ISSUED BY THE RESPONDENT BANK. EXT.P1(d): COPY OF THE PAY-IN-SLIP DATED 22/09/2009 ISSUED BY THE RESPONDENT BANK. EXT.P2: COPY OF THE NOTICE DATED 22/05/2009 UNDER SECTION 13(2) OF THE ACT. EXT.P3: COPY OF THE CORRECTED NOTICE DATED 09/11/2010 UNDER SECTION 13(2). EXT.P4: COPY OF THE C.M.P. NO.754/2011, FILED BY THE 1ST RESPONDENT BEFORE THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT AT KOTTAYAM. EXT.P5: COPY OF THE EXTRACT OF THE OBJECTION FILED BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT AT KOTTAYAM. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE rs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 18590 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 8th day of July, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 initiated by the respondents for recovery of defaulted loan amounts from the petitioner. But, the petitioner does not dispute the liability or the quantum, the petitioner seeks only time to pay till 25.9.2011. 2. I have heard the learned standing counsel for the bank also. Havig heard both sides, I dispose of this writ petition with a direction to the respondents to grant to the petitioner time till 25.9.2011. If the petitioner pays the amount on or before 25.9.2011, further proceedings under the Act shall be dropped. However, if the petitioner commits default in complying with the above direction, it would open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/