IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 13TH OCTOBER 2011 / 21ST ASWINA 1933 WP(C).No. 26093 of 2011(J) --------------------------------------- PETITIONER(S): ------------------------ SIVADAS. P., S/O. LATE VELAYUDHAN, 'SIVADHAM', LAKSHMI HOUSING COLONY, KTC JUNCTION, KANJIKODE P.O., PALAKKAD-678 621. BY ADV. SRI.C.K.MOHANAN RESPONDENT(S): ------------------------- H.D.F.C. LTD., PKN COMPLEX, 1ST FLOOR, MISSION SCHOOL JUNCTION, PALAKKAD, REP. BY AUTHORISED OFFICER, 678 014. BY SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE, ADV. SRI.A.S.SAJUSH PAUL, SRI.THOMAS JAMES MUNDACKAL, SRI.BOBBY THOMAS, SRI.TONY THOMAS (INCHIPARAMBIL), SMT.S.AMBILY. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/10/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 26093 of 2011(J) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 PHOTOCOPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT DATED 28.9.2011. EXT.P2 PHOTOCOPY OF THE STATEMENT OF ACCOUNT ISSUED BY THE RESPONDENT DATED 28.9.2011. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE rs S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.26093 OF 2011 ---------------------------------------------- Dated this the 13th day of October, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent for recovery of the loan amounts due from the petitioner to the respondent. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the HDFC. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondent shall permit the petitioner to pay off the balance amount due in ten equal monthly instalments starting from 1.11.2011. Every subsequent 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 W.P.(C)No.26093/11 2 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.26093/11 3