IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 20TH AUGUST 2008 / 29TH SRAVANA 1930 WP(C).No. 25179 of 2008(V) ------------------------------------- PETITIONER: -------------------- C.MOHAMMED ASHRAF, S/O.ABRAHAM, CHANDRIYAKATH HOUSE, PO.PARIYAPURAM, TIRUR TALUK. BY ADV. SRI.K.K.MOHAMED RAVUF RESPONDENTS: ----------------------- 1. THE KERALA FARMERS DEBT RELIEF COMMISSIONER THIRUVANANTHAPURAM BUITS SECRETARY. 2. AUTHORISED OFFICER, MALAPPURAM CO.OP.BANK, LTD., MALAPPURAM. BY GOVERNMENT PLEADER, SRI. I.V. PREMOD SRI. E.K. MADHAVAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/08/2008 , THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J ================== W.P(C)No.25179 of 2008 ================== Dated this the 20th day of August, 2008. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, on the ground that the property proceeded against are agricultural properties which are exempted from the purview of the Securitisation Act. However, the petitioner does not dispute the liability to pay or the quantum. When the liability and quantum are not disputed, I do not think that in exercise of my discretionary, jurisdiction under Article 226, I can countenance the contention of the petitioner on the technical ground that since the property is an agricultural property, the same cannot be proceeded against. The learned Standing Counsel appearing for the 2nd respondent opposes the prayers and submits that the total amount due as on today is more than Rs.3,31,000/-. However, I think that in the facts and circumstances of the case, a lenient attitude can be taken to enable the petitioner to pay off the amounts in intalments. Accordingly, the writ petition is disposed of with the following W.P(C)No.25179 of 2008 - 2 - directions: The petitioner shall pay an amount of Rs. 80,000/- within one month from today. The balance shall be paid in six equal monthly instalments starting from 1.11.2008. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amounts without default on the due dates, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of either Rs. 80,000/- or any of the subsequent intalments, it would be open to the 2nd respondent to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. If the petitioner submits an appropriate application for reduction of interest or any other benefits legally due to the petitioner, the 2nd respondent shall consider the same, as sympathetically as possible, in accordance with the banks policy and guidelines. S.SIRI JAGAN, JUDGE rhs