IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 30TH NOVEMBER 2011 / 9TH AGRAHAYANA 1933 WP(C).No. 31899 of 2011(J) -------------------------- PETITIONER: ------------------- NANU.C.P., S/O.POKKAN, CHALUPARAMBATH VEEDU, KODIYURA.P.O., VANIMEL-673 515, KOZHIKODE. BY ADV. SRI.A.MOHAMED MUSTAQUE SRI.K.R.AVINASH (KUNNATH) RESPONDENT: ------------------- 1. THE KOZHIKODE DISTRICT CO-OPERATIVE BANK, KOZHIKODE, P.O.CHALAPPURAM-673 002, KOZHIKODE DISTRICT. 2. THE AUTHORIZED OFFICER, KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., KALLAI ROAD, CALICUT-673 002. BY ADV. P.V. KUNHIKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: MM WP(C).No. 31899 of 2011(J) APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE DEMAND NOTICE DATED 15-03-2010 ISSUED BY 2ND RESPONDENT P2 COPY OF THE POSSESSION NOTICE DATED 18-11-2011 RESPONDENT'S EXHIBITS: NIL TRUE COPY P.A. TO JUDGE MM S.SIRI JAGAN,J. ------------------------ WP(C) No.31899 OF 2011 --------------------------------- Dated this the 30 th day of November , 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioner to the respondent bank. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due instalments. 2. This is opposed by the learned counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondents shall permit the petitioner to pay off the balance amount due in six equal monthly instalments starting from 2-1-2012. Every subsequent 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 2 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. S.SIRI JAGAN. JUDGE mm 3