IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 10TH NOVEMBER 2011 / 19TH KARTHIKA 1933 WP(C).No. 29975 of 2011(V) ------------------------------------ PETITIONER : - ---------------------- AMBILI DEVI, KANAKKOOR VELI, NORTH ARYAD P.O., ALAPPUZHA. BY ADVS. SRI. L.RAJESH NARAYAN IYER SRI.P.B.SUNEER RESPONDENTS : - ------------------------- 1. AUTHORISED OFFICER/CHIEF MANAGER, ALAPPUZHA, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BEACH ROAD, ALAPPUZHA-688 001. 2. BRANCH MANAGER, STATE BANK OF INDIA, KALAVOOR, ALAPPUZHA-688 542. R1 & R2 BY ADV. SRI. N. RAJAGOPALAN NAIR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 29975 of 2011(V) APPENDIX PETITIONER'S EXHIBITS: EXT P1 : COPY OF THE PATTA. EXT P2 : COPY OF THE AGREEMENT FOR DEPOSIT OF TITLE DEED DATED 12.12.2006. EXT P3 : COPY OF THE SAVINGS BANK PASS BOOK WITH ACCOUNT NO. 30101406719 DATED 03.12.2006. EXT P4 : COPY OF THE LOAN PASS BOOK. EXT P5 : COPY OF THE RECEIPTS. EXT P6 : COPY OF THE PAPER PUBLICATION DATED 29.05.2011. EXT P7 : COPY OF THE ORDER DATED 02.08.2011. RESPONDENTS' EXHIBITS: NIL. TRUE COPY P.A. TO JUDGE DMR/- S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.29975 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 10th day of November, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 8 (eight) equal monthly instalments starting from 01.12.2011. Every subsequent W.P.(C)No.29975 of 2011 -2- instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalments, 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/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/