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. 31958 of 2011(T) -------------------------------------- PETITIONER(S): ---------------------- 1. AMMINI, AGED 63 YEARS, W/O.KOCHUMON, MANAPATTI HOUSE, VELUTHUR VILLAGE, THRISSUR TALUK. 2. M.K.SUNIL, S/O.KOCHUMON, MANAPATTI HOUSE, VELUTHUR VILLAGE, THRISSUR TALUK. BY ADV. SRI.K.N.PADMAKUMAR RESPONDENT(S): ------------------------- 1. THE AUTHORISED OFFICER, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD., TUDA ROAD, THIRUVAMBADY P.O., THRISSUR-680 022. R1 BY ADV.SRI.P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DG WP(C).No. 31958 of 2011(T) APPENDIX PETITIONER(S) EXHIBITS: EXT.P1 - COPY OF THE PASS BOOK ISSUED BY THE RESPONDENT WITH LOAN NO.73963 DATED 16/2/2009. EXT.P2 - COPY OF THE NOTICE NO.SL/73963/TCR.MAIN/2011-2012 ISSUED BY THE RESPONDENT DATED 03/11/2011. EXT.P3 - COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONERS BEFORE THE RESPONDENT DATED 08/11/2011. RESPONDENTS' EXHIBITS - NIL /TRUE COPY/ P.A.TO.JUDGE DG S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 31958 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 1st day of December, 2011. J U D G M E N T The petitioners are challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 initiated by the respondent for recovery of defaulted loan amounts. The petitioners do not dispute the liability or quantum. The petitioners only seek facility to pay the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions: The petitioners shall pay the amounts demanded in ten monthly instalments starting from 2.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioners pay the amounts on the due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioners commit default in complying with the above directions or in paying any one instalment, 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/- S. Siri Jagan, Judge. Tds/