IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 7TH JULY 2011 / 16TH ASHADHA 1933 WP(C).No. 18437 of 2011(D) --------------------------------------- PETITIONER(S): ---------------------- GANGADHARAN, S/O.VELUKUTTY, AGED 72 YEARS, KUNNUPARAMBIL HOUSE, P.O. VELUTHOOR, THRISSUR DISTRICT. BY ADV. SRI.R.DIVAKARAN RESPONDENT(S): ------------------------- 1. STATE OF KERALA, REPRESENTED BY THE SECRETARY TO FINANCE DEPARTMENT, SECRETARIAT, THIRUVANANTHAPURAM-695 001. 2. THE GENERAL MANAGER, THRISSUR DISTRICT CO-OPERATIVE BANK, THRISSUR SAHAKARANA SADAPTHIMANDHIRAM, KOVILAKATHPADAM, THRISSUR-680 022. 3. AUTHORISED OFFICER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD., THRISSUR SAHAKARANA SADAPTHIMANDHIRAM, KOVILAKATHPADAM, THRISSUR-680 022. 4. THRISSUR DISTRICT CO-OPERATIVE BANK, THRISSUR, BRANCH AYYANTHOL, REPRESENTED BY ITS BRANCH MANAGER, PIN-680 003. R1 BY GOVT. PLEADER MR.C.K. GOVINDAN. R2 TO R4 BY ADV. MR.P.C. SASIDHARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 18437 of 2011(D) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT U/S 13 OF THE SARFAESI ACT. EXT.P2: COPY OF THE REPRESENTATION BEFORE THE 2ND RESPONDENT ON 04/07/2011. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE rs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 18437 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 7th day of July, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 initiated by respondents 2 to 4 for recovery of defaulted loan amounts. the petitioner does not dispute the liability or quantum. the petitioner only seeks a facility to pay 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 the following directions: The petitioner shall pay the amounts demanded in six equal monthly instalments starting from 1.8.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amount on the due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions or in paying any one instalment, it would 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. Tds/ -: 2 :-