IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 20TH DECEMBER 2011 / 29TH AGRAHAYANA 1933 WP(C).No. 33990 of 2011(W) ----------------------------------------- PETITIONER(S): ------------------------ P. ANANDAKUMAR, AGED 52 YEARS, S/O.SREEDHARAN NAIR, PALAZHI HOUSE, PAZHUVIL P.O., THRISSUR DISTRICT- 680 564. BY ADV. SRI.P.RAMACHANDRAN, SRI.K.T. SHYAMKUMAR. RESPONDENT(S): ------------------------- THE AUTHORISED OFFICER, ASSISTANT GENERAL MANAGER, STATE BANK OF INDIA, RASMECCC, IIND FLOOR, WEST PALLITHAMAM BUILDING, KARUNAKARAN NAMBIAR ROAD, THRISSUR-680 020. BY ADV. MR.R.S. KALKURA, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 33990 of 2011(W) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: TRUE COPY OF THE SALE NOTICE PUBLISHED IN MATHRUBHOOMI DAILY DTD. 8/12/2011. EXT.P2:- TRUE COPY OF THE LETTER DTD. 14/12/2011 BY THE PETITIONER TO THE RESPONDENT EXT.P3:- TRUE COPY OF THE REPLY DTD. 15/12/2011 BY THE RESPONDENT SENT TO THE PETITIONER BY E. MAIL. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE rs S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.33990 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 20th day of December, 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 respondent 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 respondent 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 respondent to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 02.01.2012. Every subsequent W.P.(C)No.33990 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 respondent 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/