IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 17TH OCTOBER 2011 / 25TH ASWINA 1933 WP(C).No. 38033 of 2008(C) ---------------------------------------- PETITIONER(S): ------------------------ P.C.JOLLY, AGED 44 YEARS, S/O.CHACKO, MUNDAKKAL HOUSE, THIRUMARADI.P.O, KOOTHATTUKULAM, ERNAKULAM DISTRICT. BY ADVS. SRI.T.N.SURESH, SRI.ROY THOMAS. RESPONDENT(S): --------------------------- 1. THE SENIOR MANAGER, KERALA STATE CO-OPERATIVE BANK, REGIONAL OFFICE, DURAISWAMI AIYAR ROAD, ERNAKULAM. 2. MR.REGHUPATHI, THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK, REGIONAL OFFICE, DURAISWAMI AIYAR ROAD, ERNAKULAM. *ADDL.R3 IMPLEADED: R3. ALIAMMA CHACKO, AGED 70 YEARS, W/O.CHACKO, MUNDAKKAL HOUSE, THIRUVAMARADI PO. (*ADDL.R3 IS IMPLEADED AS PER ORDER DTD. 19/01/20009 IN I.A.NO.611/09) R1 & R2 BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP. BANK THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 17/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.38033/2008 C APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE NOTICE DTD. 13/05/2008 ISSUED BY THE 2ND RESPONDENT. P2: COPY OF THE REPRESENTATION DTD. 23/05/2008 OF THE PETITIONER TO THE 1ST RESPONDENT. P3: COPY OF THE RECEIPT. P4: COPY OF THE NOTICE DTD. 24/07/2008 ISSUED BY THE 1ST RESPONDENT. P5: COPY OF THE REPRESENTATION DTD. 27/07/2008 SUBMITTED BY THE PETITIONER TO THE RESPONDENTS. P6: COPY OF THE NOTICE PUBLISHED IN MATHRUBHOOMI DAILY DTD. 14/12/2008 FIXING THE SALE ON 20/01/2009. P7: COPY OF ORDER DTD. 19/01/2009 IN WP(C) NO.38033/2008 OF THIS HON'BLE COURT. P8: COPY OF DISCHARGE SUMMARY DTD. 16/06/2009 ISSUED FROM LISIE HOSPITAL, ERNAKULAM. P9: COPY OF MEDICAL CERTIFICATE DTD. 9/06/2009 ISSUED FROM THE LISIE HOSPITAL, ERNAKULAM. P10: COPY OF THE APPLICATION DTD. 8/07/2011 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT. P11: COPY OF REPLY DTD. 13/07/2011 ISSUED BY THE 1ST RESPONDENT. P12: COPY OF CIRCULAR DTD. 23/06/2011 ISSUED BY THE CO-OPERATIVE REGISTRAR, P13: COPY OF THE ACCOUNT STATEMENT ISSUED BY THE BANK. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.38033 of 2008 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 17th day of October, 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 10 (ten) equal monthly W.P.(C)No.38033 of 2008 -2- instalments starting from 01.12.2011. 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 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/