IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 26TH MAY 2008 / 5TH JYAISHTA 1930 WP(C).No. 15463 of 2008(N) -------------------------- PETITIONER: ------------ AJAN.S, AGED 34 YEARS,S/O.SIVAN, VELIYIL HOUSE, EAST KOMALAPURAM, AVALOOKUNNU P.O., ALAPPUZHA. BY ADV. SRI.S.SHANAVAS KHAN RESPONDENTS: ------------- 1. THE VIJAYA BANK, ALAPPUZHA BRANCH, REPRESENTED BY ITS MANAGER. 2. THE SALE OFFICER, VIJAYA BANK, ALAPPUZHA BRANCH. BY ADV. SRI. K. ANAND THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 15463 of 2008 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 26th May, 2008. J U D G M E N T 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 loan amounts due from the petitioner to the 1st respondent. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks some time to pay off the amounts in instalments. 2. I have heard the learned standing counsel also. 3. In the facts and circumstances of the case, I feel that a lenient view can be shown to the petitioner in the matter of payment of the balance outstanding amounts in instalments. Accordingly, the writ petition is disposed of as follows. The respondents shall permit the petitioner to pay the outstanding amounts in six equal monthly instalments starting from 1- 6-2008. Subsequent instalments shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments in time on the due dates, further proceedings for coercive recovery shall be kept in abeyance. However, if the petitioner fails to pay any one instalment on the due date, 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. S. Siri Jagan, Judge. Tds/