IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 3RD APRIL 2008 / 14TH CHAITHRA 1930 WP(C).No. 6690 of 2008(U) ------------------------- PETITIONER: ------------ K.V.SHINEKUMAR, S/O.LATE VELAYUDHAN, SOLE PROPRIETOR, M/S.VELAYUDHAN TRADERS, KANNATHUSSERIL HOUSE, PERUMPADANNA, NORTH PARAVOOR. BY ADV. SRI.S.SHYAM SRI.BOBBYMATHEW KOOTHATTUKULAM RESPONDENTS: ------------- 1. AUTHORISED OFFICER (CHIEF MANAGER, ERNAKULAM REGION), SOUTH INDIAN BANK, REGIONAL OFFICE, DHARMODAYAM BUILDING, 2ND FLOOR, SHANMUGHAM ROAD, MARINE DRIVE, ERNAKULAM. 2. SOUTH INDIAN BANK, NORTH PARAVOOR BRANCH, REPRESENTED BY ITS MANAGER, NORTH PARAVOOR PO. BY ADV. SRI.K.PRABHAKARAN, SC FOR SOUTH INDIAN BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------------- W.P.C.No.6690 of 2008 ------------------------------------------- Dated this the 3rd day of April, 2008 JUDGMENT In this writ petition, challenge is against the proceedings initiated by the first respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. Going by the notice, the amount due is shown as Rs.12,38,513/-. However, in the statement filed before this court it is conceded by the bank that the amount due to the bank is Rs.2,36,027/- as on 30.4.2008. 2. The counsel for the petitioner seeks an instalment facility to discharge the liability. I heard the standing counsel appearing for the bank also. 3. Having heard the submissions that are made, the writ petition is disposed of directing that the petitioner will be permitted to pay the aforesaid amount due in four equal monthly instalments, the first of which will be payable on 30th of April 2008 and the balance on 30th of every succeeding month. In case any default is committed, the bank will be free to continue its proceedings. ANTONY DOMINIC, JUDGE csl