IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 4TH OCTOBER 2011 / 12TH ASWINA 1933 WP(C).No. 26513 of 2011(L) -------------------------- MC.376/2011 of CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. .................... PETITIONER(S): ------------------------- T.K.SURESH KUMAR, S/O.THANKAPPAN, AGED 46, SILPA DNA 661, A.K.G.NAGAR JUNCTION, PEROORKADA, THIRUVANANTHAPURAM. BY ADVS. SRI.R.T.PRADEEP, SRI.SREEKANTH S.NAIR. RESPONDENT(S): ---------------------------- 1. AUTHORISED OFFICER, REGIONAL MANAGER, CENTRAL BANK OF INDIA, REGIONAL OFFICE, THAMPANOOR, THIRUVANANTHAPURAM-695 001. 2. CHITHRAJAYA, SILPA DNA 661, A.K.G.NAGAR, JUNCTION, PEROORKADA, THIRUVANANTHAPURAM-695 001. R1 BY ADV. SRI.V.SUNIL KUMAR,SC,CENTRAL BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.26513/2011 L APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF APPLICATION DTD. 2/07/2011IN M.C.NO.376/2011 BEFORE CJM, THIRUVANANTHAPURAM. P2: COPY OF CARDIAC CATHETERIZATION REPORT DTD. 28/03/2011. P3: COPY OF DISCHARGE SUMMARYDTD. 29/04/2011. P4: COPY OF NOTICE HAND WRITTEN BY PETITIONER DTD. 8/09/2011. P5: COPY OF RECEIPT OF PAYMENT. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.S.TO JUDGE Kss S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 26513 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 4th day of October, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the respondents. The respondents have initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the same, which is under challenge in this writ petition. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with a direction to the respondents to permit the petitioner to pay off the amounts due in 10 equal monthly instalments starting from 1.11.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, 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. Sd/- S. Siri Jagan, Judge. Tds/