IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH JANUARY 2011 / 28TH POUSHA 1932 WP(C).No. 1581 of 2011(W) ------------------------------------- PETITIONER(S): ------------------------ RAMAN, S/O.KRISHNA PILLAI, HINDU, AGED 45, RESIDING AT ELIM-71/A, KOCHAR ROAD, THIRUVANANTHAPURAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENT(S): ----------------------------- 1. THE AUTHORISED OFFICER AND ASSISTANT GENERAL MANAGER, UNION BANK OF INDIA, UNION BANK BHAVAN, M.G.ROAD, THIRUVANANTHAPURAM. 695 001. 2. UNION BANK OF INDIA, TRIVANDRUM BRANCH, UNION BANK BHAVAN, M.G.ROAD, STATUE, THIRUVANANTHAPURAM, REPRESENTED BY ITS ASSISTANT GENERAL MANAGER. 695 001. BY ADV. SRI.A.S.P.KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss S. SIRI JAGAN, J. ----------------------------------- W.P.(C) No.1581 OF 2011 --------------------------------------- Dated this the 18th day of January, 2011 JUDGMENT The petitioner challenges proceedings initiated by the respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. But the petitioner does not dispute the liability to pay or the quantum. The petitioner seeks only facility to discharge the debt in instalments. 2. I have heard the learned Standing Counsel for the respondent bank also, who opposes the prayers. 3. Having heard both sides, I dispose of this writ petition with the following directions: The petitioner shall pay an amount of Rs.4 lakhs within one month from today. The balance amount shall be paid in six equal monthly instalments starting from 1.4.2011. Every subsequent instalment shall be paid on the first working day of every W.P.(C)No.1581/11 2 succeeding month. If the petitioner complies with the above directions promptly, further proceedings pursuant to the impugned proceedings shall be kept in abeyance. However, if the petitioner fails to pay either Rs.4 lakhs or any of the subsequent 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.1581/11 3