IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 27TH JULY 2011 / 5TH SRAVANA 1933 WP(C).No. 18682 of 2011(I) --------------------------------- PETITIONER(S): ------------------- MOHAMMED NIZAR, S/O.P.K.KUNHIMUHAMMED HAJI, PULAMPARAMBIL KARUVATHI HOUSE, (PO) VALAMBUR, VIA. ERANTHODE, PATTIKKAD, MALAPPURAM DISTRICT. BY ADV. SRI.M.V.ANANDAN RESPONDENT(S): -------------------- 1. THE NEDUNGADI BANK LIMITED, NOW AMALGAMATED WITH PUNJAB NATIONAL BANK, PERINTHALMANNA, MALAPPURAM DISTRICT, PIN - 679 322. 2. THE CHIEF MANAGER/AUTHORISED OFFICER, PUNJAB NATIONAL BANK, CIRCLE OFFICE, SHATHABDI BHAVAN, MINI BY PASS ROAD, GOVINDAPURAM, KOZHIKODE - 673 016. R1 & 2 BY ADV. SRI.C.AJITH KUMAR THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 27/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 18682/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE JUDGMENT DATED 07/08/2002 IN O.S. NO.66/2001 OF THE SUB COURT, MANJERI. P2: COPY OF THE NOTICE DATED 26/05/2011 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.18682 OF 2011 ---------------------------------------------- Dated this the 27th day of July, 2011 JUDGMENT The petitioner's father was a guarantor for repayment of loan amounts given by the 1st respondent bank to one Dr. P.P. Balakrishnan. The said Dr. P.P. Balakrishnan defaulted repayment of loan amounts. A suit has been filed, which has been decreed. The respondents have initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of the amounts due, which is under challenge in this writ petition. The petitioner submits that the petitioner's father, who is no more, had remitted an amount of Rs.50,000/- in three instalments. He seeks crediting of that amount in the loan account and also facility to pay off the amounts in instalments. 2. This is opposed by the learned Standing Counsel for the bank. He would submit that this loan is of the year 2001 and at this point of time, no instalment facility can be extended to the petitioner. W.P.(C)No.18682/11 2 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner. Accordingly, the writ petition is dispose of with a direction to the respondents to permit the petitioner to pay off the balance amount due, after adjusting all amounts paid by the petitioner's father, in eight equal monthly instalments starting from 1.9.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one 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. S. SIRI JAGAN, JUDGE acd W.P.(C)No.18682/11 3 W.P.(C)No.18682/11 4