IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 3RD OCTOBER 2011 / 11TH ASWINA 1933 WP(C).No. 26224 of 2011(C) ------------------------------------- PETITIONER(S): ---------------------- K. HAMZA, PROPRIETOR, M/S. PAREL ROAD LINES, KUNNATH HOUSE, PAREL, THOOTHA, VIA PERINTHALMANNA, MALAPPURAM DISTRICT. BY ADV. SRI.BINOY VASUDEVAN SMT. P.G. BABITHA RESPONDENT(S): ------------------------- 1. THE AUTHORIZED OFFICER,(CHIEF MANAGER) SOUTH INDIAN BANK LIMITED, REGIONAL OFFICE, P.B. NO.933, CHAKKORATHUKULAM, WEST HILL.P.O., KOZHIKODE-673005. 2. THE MANAGER, SOUTH INDIAN BANK, PERINTHALMANNA BRANCH, PERINTHALMANNA.P.O., MALAPPURAM DISTRICT-679357. BY ADV. K.K. JOHN, SC., FOR R1 AND R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DS WP(C).No. 26224 of 2011(C) APPENDIX PETITIONER'S EXHIBITS: EXT.P1TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT BY THE FIRST RESPONDENT. EXT.P2TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(4) OF THE SARFAESI ACT BY THE FIRST RESPONDENT. EXT.P3TRUE COPY OF THE ORDER DATED 15-06-2011 PASSED BY THE DEBT RECOVERY TRIBUNAL IN THE UNREGISTERED S.A. EXT.P4TRUE COPY OF THE RECEIPT DATED 15-6-2011. EXT.P5TRUE COPY OF THE REPRESENTATION DATED 29-6-2011. EXT.P6TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(4) OF THE SARFAESI ACT BY THE FIRST RESPONDENT DATED 07-09-2011. EXT.P7TRUE COPY OF THE RECEIPT DATED 28-09-2011. EXT.P8TRUE COPY OF THE NOTICE ISSUED UNDER RULE 8(1) OF THE SECURITY ENFORCEMENT RULES. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ PA TO JUDGE DS S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.26224 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 3rd day of October, 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 9 (nine) equal monthly W.P.(C)No.26224 of 2011 -2- instalments starting from 01.11.2011. 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 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/