IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 6TH JUNE 2008 / 16TH JYAISHTA 1930 WP(C).No. 16878 of 2008(H) -------------------------- PETITIONER: PETITIONER -------------------------------- BINDU MATHEW @ BINDU JOSEPH, W/O. BABY MATHEW, KORATTIPARAMBIL HOUSE, MANACAUDU.P.O, THODUPUZHA, IDUKKI DT. REP. BY HER DULY CONSTITUTED OF ATTORNEY THOMAS MATHEW, S/O.K.T. MATHEW, KORATTIPARAMBIL HOUSE, MANACAUDU.P.O, THODUPUZHA, IDUKKI DT. BY ADV. SRI.JACOB SEBASTIAN RESPONDENTS: RESPONDENTS ------------------------------------ 1. DISTRICT COLLECTOR, IDUKKI DT. 2. HOUSING DEVELOPMENT FINANCE CORPORATION LTD., HDFC HOUSE, PB NO. 1667, RAVIPURAM JUNCTION, M.G. ROAD, KOCHI - REP. BY ITS AUTHORISED OFFICER. BY GOVERNMENT PLEADER SRI. I.V. PRAMOD SRI. K.K. CHANDRAN PILLAI - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ------------------------------------ W.P.(C)No.16878 OF 2008 ---------------------------------------- Dated this the 6th day of June, 2008 JUDGMENT The petitioner is challenging proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the 2 nd respondent for non-payment of loan amounts due from the petitioner to the 2 nd respondent. The petitioner does not dispute the liability or quantum. Her only prayer is that she may be given six months' time to pay off the amounts. 2. I have heard the learned Standing Counsel appearing for the 2 nd respondent also who opposes the same. However, taking a lenient view, I feel that the petitioner can be allowed to pay the balance amounts due in instalments. Accordingly, I dispose of this writ petition with the following directions. The 2 nd respondent shall allow the petitioner to pay off the balance amounts due in six equal monthly instalments starting from 1.7.2008. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner W.P.(c)No.16878/08 2 pays the instalments in time, further 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 2 nd respondent to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. It would be open to the petitioner to seek benefits under One Time Settlement Scheme and the 2 nd respondent shall consider the same, if any scheme is in force. S. SIRI JAGAN, JUDGE Acd W.P.(c)No.16878/08 3