IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 5TH SEPTEMBER 2011 / 14TH BHADRA 1933 WP(C).No. 23683 of 2011(I) -------------------------- PETITIONER(S): --------------- 1. RAJESH T.G,AGED 39, S/O.C.K.GOPALAPANICKER,RAJ BHAVAN, PALLIKKACHIRA KAVALA,PAYIPPADU VILLAGE, CHANGANACHERRY 2. SUMA RAJESH,AGED 35, W/O.RAJESH T.G,RAJ BHAVAN, PALLIKKACHIRA KAVALA,PAYIPPADU VILLAGE, CHANGANACHERRY BY ADV. SRI.P.HARIDAS SMT.S.SIKKY RESPONDENT(S): --------------- 1. DISTRICT COLLECTOR, COLLECTORATE,KOTTAYAM 686 001. 2. THE DEPUTY TAHSILDAR,(R.R), TALUK OFFICE,CHANGANACHERRY. 3. THE VILLAGE OFFICER, CHANGANACHERRY. 4. BANK OF INDIA, REPRESENTED BY ITS MANAGER, BANK OF INDIA,KOTTAYAM BRANCH 686 001. ADV. SRI.P.P.JOYI FOR R3 GOVERNMENT PLEADER SHRI.C.K.GOVINDAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No. 23683/2011 APPENDIX PETITIONER(S)' EXHIBITS P1. COPY OF THE PROOF AFFIDAVIT IN S.T.NO.53/2010 JFCM COURT-VI, KOTTAYAM. P1A. COPY OF THE PROOF AFFIDAVIT IN ST.NO.54/2010 BEFORE JFCM COURT-VI, KOTTAYAM. P2. COPY OF THE NOTICE ISSUED BY R2. P2A. COPY OF THE NOTICE DTD.17.7.2010 TO R2. P3. COPY OF THE NOTICE ISSUED TO R2. P3A. COPY OF THE NOTICE DTD.20.7.2010 TO R2. P4. COPY OF THE SUIT NOTICE DTD.5.8.11 TO P1. P4A -DO- P2. P5. COPY OF THE PETITION DTD.30.8.11 BEFORE R1. sdk+ ///True copy/// P.A. to Judge S.SIRI JAGAN, J. ================== W.P.(C).No. 23683 of 2011 ================== Dated this the 5th day of September, 2011 J U D G M E N T The petitioners challenge 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 defaulted by the petitioners. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay the amounts due in instalments. As directed by this Court on 31.8.2011, the petitioners have paid ` 10,000/-. 2. The prayer of the petitioners is opposed by the learned counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioners shall pay the balance amounts due in ten equal monthly instalments starting from 1.10.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioners pay the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioners commit default in payment of any 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/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge