IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 4TH JULY 2011 / 13TH ASHADHA 1933 WP(C).No. 17464 of 2011(G) --------------------------------------- PETITIONER: ------------------- V.K.UNNIKRISHNAN,SREE MANGALAM, PALLA STREET,SEKHARIPURAM,PALAKKAD-678 010, PALAKKAD DISTRICT. BY ADV. SRI.E.A.BIJUMON. RESPONDENTS: ------------------------ 1. UNION BANK OF INDIA,FIRST FLOOR, K S H B COMPLEX,VIKAS NAGAR,EAST HILL ROAD, KOZHIKODE-673 006. 2. THE AUTHORIZED OFFICER,UNION BANK OF INDIA,FIRST FLOOR,K S H B COMPLEX,VIKAS NAGAR, EAST HILL ROAD,KOZHIKODE-673 006. R1 & R2 BY SRI. A.S.P. KURUP, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.17464/2011-G: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE TREATMENT CERTIFICATE. EXT.P.2: COPY OF THE NOTICE ISSUED ON 17/10/2008 DEMANDING AN AMOUNT OF RS.9,25,986/-. EXT.P.3-P.3.(A): COPY OF THE MEDICAL CERTIFICATE ISSUED BY A I M S DTD. 03/11/2009. EXT.P.4: COPY OF THE MEDICAL CERTIFICATE ISSUED BY R.C.C. EXT.P.5: COPY OF THE TREATMENT CERTIFICATE ISSUED BY R.C.C. DTD. 15/09/2010. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE. Prv. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 17464 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 4th day of July, 2011. J U D G M E N T The petitioner challenges proceedings initiated by the respondents under the Securitisation and Reconstruction of Financial Assets and and Enforcement of Security interest Act, 2002 for recovery of loan amounts defaulted by the petitioner. The petitioner seeks facility to pay off the defaulted amounts and regularise the loan account so that the petitioner can pay off the instalment as per the original loan agreement for due dates. This is opposed by the learned counsel for the bank. Taking a lenient view, I dispose of this writ petition with the following directions: The petitioner shall pay the amounts required for regularising the loan account within one month from today. The 1st respondent shall inform the petitioner the amount due for regularising the loan account within one week from today. The petitioner shall continue to pay the instalments of repayment of the loan amounts as per the original loan agreement on the due dates without default. If the petitioner complies with the above directions and continues to pay the instalment amounts as per the original loan agreement on due dates without default, further proceedings under the Act 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 W.P(C) No. 17464 of 2011 -: 2 :- 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/