IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 5TH JULY 2011 / 14TH ASHADHA 1933 WP(C).No. 6175 of 2011(V) ------------------------------------- PETITIONER(S): ----------------------- K.E. HAMSA, AGED 40 YEARS, S/O.MOHAMMED, RESIDING AT KUNNATHUVETTIL HOUSE, MARATHANKODE P.O., KUNNAMKULAM, THRISSUR DISTRICT. BY ADV. SRI.R.O.MUHAMED SHEMEEM, SMT.NASEEHA BEEGUM P.S. RESPONDENT(S): -------------------------- 1. AUTHORISED OFFICER, INDIAN BANK, SWARAJ GROUND EAST, THRISSUR-680 501. 2. THE BRANCH MANAGER, INDIAN BANK, KUNNUMKULAM, THRISSUR DISTRICT, PIN-680 503. R1 & R2 BY ADV. MR.S. EASWARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 6175 of 2011(V) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE CASH RECEIPT DATED 05/01/2011 ISSUED BY THE DOCTORS SPECIALLY LABORATORY. EXT.P2: COPY OF THE DISCHARGE CARD DATED 03/01/2011 ISSUED BY THE M.O.S.C. MEDICAL MISSION HOSPITAL, THRISSUR. EXT.P3: COPY OF THE LETTER DATED 31/05/2010 BY THE 2ND RESPONDENT. EXT.P4: COPY OF THE DEMAND NOTICE DATED 14/09/2010 BY THE 1ST RESPONDENT. EXT.P5: COPY OF THE SALE NOTICE PUBLISHED THROUGH MATHRUBHUMI DAILY DATED 23/02/2011 BY THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE rs S.SIRI JAGAN, J. ================== W.P.(C).No. 6175 of 2011 ================== Dated this the 5th day of July, 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 respondents for recovery of the 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. He submits that the proceedings have reached the stage of sale and, therefore, it is not proper to direct the bank to retrace its steps. 3. I have considered the rival contentions in detail. 4. Having heard both sides, I am of opinion that some more leniency can be shown to the petitioner in the matter of paying off the balance amount in instalments. Accordingly, this writ petition is disposed of with the following directions: The petitioner shall pay the balance amount due in eight equal monthly instalments starting from 1.8.2011. 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, coercive proceedings for recovery of the amounts shall be kept w.p.c.6175/11 2 in abeyance. However, if the petitioner commits default in payment of any 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/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge