IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 22ND DECEMBER 2011 / 1ST POUSHA 1933 WP(C).No. 34496 of 2011(J) -------------------------------------- PETITIONER : --------------------- STARLY, S/O. VASU, THOPPIL HOUSE, KUTTICHIRA - 680 724. BY ADV. SMT. E.V.MOLY RESPONDENT : ---------------------- STATE BANK OF INDIA, KUTTICHIRA BRANCH, THRISSUR DISTRICT - 680 724, REPRESENTED BY ITS AUTHORIZED OFFICER. BY ADV. A.S. SAJUSH PAUL, SC FOR SBI. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DSV/- WP(C).No. 34496 of 2011(J) APPENDIX PETITIONER'S EXHIBITS: EXT P1 : COPY OF THE ACCOUNT STATEMENT EXT P2 : COPY OF NOTICE DATED 12/12/11 ISSUED UNDER SECTION 13 (4) OF THE SARFAESI ACT. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE DSV/- S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 34496 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 22nd day of December, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the respondent. The respondent has initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the same, which is under challenge in this writ petition. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with a direction to the respondent to permit the petitioner to pay off the amounts due in 10 equal monthly instalments starting from 16.1.2012. Every subsequent instalment shall be paid on the first working day after 15th of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, 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. Tds/