IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 28TH OCTOBER 2011 / 6TH KARTHIKA 1933 WP(C).No. 26616 of 2011(B) -------------------------- PETITIONER: --------------- ALEEMA AMEEN, SHEHATHEERAM, KURAIKANNI P.O.,VARKALA, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.A.B.MOHANAKUMAR RESPONDENT(S): --------------------- THE STATE BANK OF MYSORE, THIRUVANANTHAPURAM BRANCH, PONNI BUILDING, POWER HOUSE ROAD, THIRUVANANTHAPURAM-695036 REP.BY ITS AUTHORISED OFFICER, ADV. SRI.LAL GEORGE FOR R-1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 28/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 26616 of 2011(B) APPENDIX PETITIONER(S) EXHIBITS EXT.P1:- TRUE COPY OF THE POSSESSION NOTICE DATED 16/7/2011 ISSUED BY THE RESPONDENT. RESPONDENTS' EXHIBITS : NIL TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.26616 OF 2011 ---------------------------------------------- Dated this the 28th 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 bank for recovery of the loan amounts due from the petitioner's husband to the respondent bank. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks opportunity to regularise the loan account by paying the defaulted amounts and to pay the future instalments as per the original loan agreement. 2. This is opposed by the learned counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: If the petitioner pays the amounts stipulated by the bank for regularising the loan account in two equal monthly instalments along with regular instalments payable in accordance W.P.(C)No.26616/11 2 with the original loan agreement for November and December 2011, the respondent shall permit the petitioner to regularise the loan account and to pay off the future instalments as per the original loan agreement. If the petitioner complies with the above directions and continue to pay the future instalments as per the original loan agreements 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 either the defaulted amounts or any of the future instalments as per the original loan agreement, 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.26616/11 3 W.P.(C)No.26616/11 4