IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 27TH JULY 2011 / 5TH SRAVANA 1933 WP(C).No. 17265 of 2011(G) ----------------------------------------- PETITIONER(S): ------------------------- C.RAJAGOPALAN ASARI,AGED 47 YEARS, S/O.CHELLAPPAN ASARI,T/C.NO.22/67, VILAYIL VILAKATHU VEETTIL,MANACAUD.P.O, THIRUVANANTHAPURAM. BY ADV. SRI.SABU S.(KALLARAMOOLA) RESPONDENT(S): ---------------------------- 1. THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.NO.1959,M.G.ROAD,THIRUVANANTHAPURAM-695 001, REPRESENTED BY ITS GENERAL MANAGER IN CHARGE. 2. THE BRANCH MANAGER,THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.NO.1959,VALIYASALA BRANCH,TRIVANDRUM-695 014. BY ADV. SRI.GEORGE POONTHOTTAM,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.17265/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE DATED 18/01/2011 OF THE 1ST RESPONDENT. P2 COPY OF THE POSSESSION NOTICE PUBLISHED IN KERALA KOUMUDI DAILY DATED 11/06/2011 RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.S.TO.JUDGE sts S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 17265 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 27th day of July, 2011. J U D G M E N T The petitioner availed of a loan for Rs. 3,50,00/- from the 1st respondent-bank. The petitioner committed default in repayment of the same. The bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. This is under challenge in this writ petition. The petitioner does not dispute the liability to pay or the quantum. He only seeks facility to regularise the loan account by paying the outstanding amounts and for permission pay the balance instalments as per the loan agreement on due dates. This is opposed by the counsel for the bank. 2. This court granted an interim stay on 27.6.2011 on condition that the petitioner pays an amount of Rs. 1 lakh within three weeks. Admittedly, the petitioner has not paid that amount. The learned counsel for the petitioner submits that the petitioner is a cancer patient and therefore he would require more time to pay the amount as directed in the interim order. In view of the fact that the petitioner is a cancer patient, taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the outstanding arrears of instalments of loan amounts within 3 months from today so that the bank can regularise the loan account. On payment of the outstanding arrears, the respondents shall allow the petitioner W.P(C) No. 17265 of 2011 -: 2 :- to regularise the loan account and to pay the balance instalments in accordance with the original loan agreement on due dates. If the petitioner pays the outstanding arrears of instalments and continues to pay the regular instalments as per the original agreement, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of the outstanding arrears or any of the regular instalments on due dates, 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/