IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 24TH NOVEMBER 2011 / 3RD AGRAHAYANA 1933 WP(C).No. 31351 of 2011(T) -------------------------------------- PETITIONER: ------------------- SHAIJU, AGED 36,S/O.BHASKARAN, MANKUZHI HOUSE,NORTH BAZAR,OLLUR P.O, CHEERACHI,THRISSUR- 680 302 BY ADVS. SRI.G.SREEKUMAR (CHELUR), SRI.K.RAVI (PARIYARATH). RESPONDENTS: ------------------------ 1. I C I C I BANK LTD; 1ST FLOOR,M G ROAD,PULIMOOD, THIRUVANANTHAPURAM -1, REPRESENTED BY ITS BRANCH MANAGER, THIRUVANANTHAPURAM- 695 001 2. THE AUTHORISED OFFICER, I C I C I BANK LTD, CHIEF MANAGER,1ST FLOOR, M G ROAD,PULIMOOD, THIRUVANANTHAPURAM- 695 001 BY ADV. SRI. K.K. SHERIFF, SRI.LAL K.JOSEPH, SRI.A.A.ZIYAD RAHMAN, SRI.V.S.SHIRAZ BAVA, SMT.M.C.SANITHA. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/11/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).NO.31351/2011-T: APPENDIX PETITIONER'S EXHIBIT:- EXT.P.1: COPY OF THE REGISTERED NOTICE ISSUED DTD. 18/06/2011. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE Prv. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.31351 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 24th day of November, 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 6 (six) equal monthly instalments starting from 01.01.2012. Every subsequent W.P.(C)No.31351 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 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/