IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 25TH OCTOBER 2011 / 3RD KARTHIKA 1933 WP(C).No. 28398 of 2011(Y) -------------------------- CMP.4230/2010 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): ------------------------ A.V.PRASANTH, PROP. M/S. GURUJI ENTERPRISES, KALATHARA VEEDU, O.M.NAGAR, MANIKANTESWARAM, NETTAYAM PO, THIRUVANANTHAPURAM. BY ADV. SRI.V.S.BABU GIREESAN RESPONDENT(S): --------------------------- THE AUTHORISED OFFICER, ASST.GENERAL MANAGER, SYNDICATE BANK, REGIONAL OFFICE, THIRUVANANTHAPURAM - 695 001. BY ADV. SRI. R.S. KALKURA,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.28398/2011 Y APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE ORDER DTD. 28/10/2009 IN WRIT PETITION NO.30040/2009. P2: COPY OF THE ORDER DTD. 8/01/2010 IN CMPNO.3870/2009 OF THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. P3: COPY OF THE JUDGMENT DTD. 1/03/2010 IN WRIT PETITION NO.1346 OF 2010. P4: COPY OF THE CMPNO.4230/2010 OF THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. P5: COPY OF THE ORDER DTD. 14/07/2011 INCMP NO.4230/2010 OF THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss S.SIRI JAGAN, J. ================== W.P.(C).No. 28398 of 2011 ================== Dated this the 25th day of October, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondent for recovery of loan amounts defaulted by the petitioner. 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 bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in ten equal monthly instalments starting from 1.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any 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. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge - : 2 :-