IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 1ST DECEMBER 2011 / 10TH AGRAHAYANA 1933 WP(C).No. 32101 of 2011(K) -------------------------- MC.409/2011 of C.J.M.,TRIVANDRUM ............................... PETITIONER(S): ---------------------- 1. CHANDRAN, S/O.VASUDEVAN, AGED 54, PUNERTHAM, AYANIMOODU, VEDIVACHANKOIL, BALARAMAPURAM, THIRUVANANTHAPURAM DISTRICT. 2. PREMALATHA, RESIDING AT DO... BY ADVS. SRI.R.T.PRADEEP SRI.SREEKANTH S.NAIR RESPONDENT(S): ------------------------ 1. THE AUTHORISED OFFICER, SYNDICATE BANK, REGIONAL OFFICE, THIRUVANANTHAPURAM - 695 001. 2. SUJITH CHANDRAN, S/O.CHANDRAN, PUNERTHAM, AYANIMOODU, VEDIVANCHANKOIL, BALARAMAPURAM, THIRUVANANTHAPURAM DISTRICT - 695 120. R1 BY SC.SRI.R.S. KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AMV WPC NO.32101 OF 2011 (K) APPENDIX PETITIONER(S) EXHIBITS : P.1 : COPY OF M.C.NO.409/2011 DATED 13.07.2011. P.2 : COPY OF RECEIPTS DATED 21.11.2011 P.3 : COPY OF NOTICE DATED 11.11.2011 RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A. TO JUDGE AMV S.SIRI JAGAN, J. ================== W.P.(C).No. 32101 of 2011 ================== Dated this the 1st day of December, 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 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. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in ten equal monthly instalments starting from 2.1.2012. 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, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, 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. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge - : 2 :-