IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 12TH AUGUST 2011 / 21ST SRAVANA 1933 WP(C).No. 20894 of 2011(J) -------------------------- PETITIONER(S): --------------- SULEKHA MUNEER,MEETHEL HOUSE, VETTUKKUNNAM,EDAPALLY NORTH, KOCHI. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- SYNDICATE BANK,REP.BY THE AUTHORISED OFFICER,REGIONAL OFFICE,POINEER TOWERS, SHANMUGHAM ROAD,ERNAKULAM-31. ADV. SRI. R.S. KALKURA. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: PETITIONER'S EXHIBITS: W.P.C.NO. 20894/2011. ------------------------------------------------------------------ EXT. P1TRUE COPY OF 13(2) NOTICE DATED 18.11.09. EXT.P2 TRUE COPY OF THE REPLY GIVEN BY THE PETITIONER ON 3.1.11. EXT. P3TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT TO THE TENANT DATED 9.2.10. EXT.P4 TRUE COPY OF THE STATEMENT OF ACCOUONTS. EXT.P5 TRUE COPY OF THE REQUEST LETTER DATED 27.7.2011 SUBMITTED BY THE PETITIONER. [TRUE COPY] P.S TO JUDGE. TDS/ S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 20894 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 12th day of August, 2011. J U D G M E N T The petitioner defaulted repayment of loan amounts due to the respondent. The respondent initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 against the secured assets. That is under challenge in this writ petition. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks permission to regularise the loan account by paying the outstanding defaulted instalments of loan and continue payment of the future instalments as per the original agreement. This is opposed by the counsel for the bank. 2. Having heard both sides, I dispose of this writ petition with the following directions: The petitioner shall pay the outstanding defaulted instalments of loan amount with interest within one month from today. If the petitioner pays the same, the respondent shall regularise the petitioner's loan account and permit the petitioner to pay the balance future instalments on the due dates as per the loan agreement. If the petitioner pays outstanding defaulted instalments with interest on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of the outstanding W.P(C) No. 20894 of 2011 -: 2 :- amount or any one future instalment, it would be open to the respondents to continue proceedings under the Act, without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/