IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 14TH DECEMBER 2011 / 23RD AGRAHAYANA 1933 WP(C).No. 32384 of 2011(W) -------------------------------------- MC.535/2011 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): ------------------------- MOLY, D/O.VAISHNA KUMARI, AGED 45, KRISHNA, TC 6/135, KODUGANOOR P.O., VATTIYOORKAVU, THIRUVANANTHAPURAM. BY ADV. SRI.R.S.KALKURA SRI.V.VINAY MENON SRI.M.S.KALESH SRI.HARISH GOPINATH SMT.A.V.PRIYA RESPONDENT(S): ------------------------ 1. THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD., HEAD OFFICE, P.B.NO.115, M.G.ROAD, THIRUVANANTHAPURAM-695 001, REPRESENTED BY ITS SECRETARY. 2. THE AUTHORISED OFFICER, THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD., HEAD OFFICE, P.B.NO.115, M.G.ROAD, THIRUVANANTHAPURAM-695 001. 3. THE GENERAL MANAGER IN-CHARGE, THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD., HEAD OFFICE, P.B.NO.115, M.G.ROAD, THIRUVANANTHAPURAM-695 001, 4. SHIBU.S, KRISHNA, TC 6/135, KODUGANOOR P.O., VATTIYOORKAVU, THIRUVANANTHAPURAM-695 013. 5. VAISHNA KUMARI, KRISHNA, T.C.6/135, KODUGANOOR P.O., VATTIYOORKAVU, THIRUVANANTHAPURAM-695 013. R1 BY ADV. SRI.GEORGE POONTHOTTAM THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 14/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.32384/2011 APPENDIX PETITIONER(S) EXHIBITS P1:- COPY OF THE NOTICE NO.1997/10-11 DATED 8.1.2011 ISSUED BY THE IST RESPONDENT TO THE 4TH RESPONDENT. P2:- COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 DATED 27.1.2011 ISSUED BY THE IST RESPONDENT TO THE PETITIONER AND RESPONDENTS 4 AND 5. P3:- COPY OF THE ORDER DATED CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM DATED M.C.NO.535 OF 2011. P4:- COPY OF THE RECEIPT DATED 30.5.2011 FOR RS.2 LAKHS ISSUED BY THE IST RESPONDENT TO THE PETITIONER. RESPONDENTS' EXHIBITS NIL:- TRUE COPY P.A. TO JUDGE tss S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.32384 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 14th day of December, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents 1 to 3 for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents 1 to 3 can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents 1 to 3 to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from W.P.(C)No.32384 of 2011 -2- 02.01.2012. 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 1 to 3 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/