IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 10TH NOVEMBER 2011 / 19TH KARTHIKA 1933 WP(C).No. 29901 of 2011(K) -------------------------- PETITIONER(S): --------------------- PADMANABHAN.P,S/O AMBADI VELICHAPADAN, MADAL HOUSE,MANIKOTH POST,KANHANGAD, KASARAGOD DISTRICT. BY ADV. SRI.C.K.SREEJITH RESPONDENT(S): ----------------------- STATE BANK OF INDIA,KANHANGAD BRANCH, REP.BY ITS AUTHORIZED OFFICER.KANHANGAD.P.O, KASARAGOD, PIN – 670 315. BY ADV.SRI.A.S.SAJUSH PAUL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AV WPC.NO.29901/2011 APPENDIX PETITIONER(S) EXHIBITS : EXT.P1 : COPY OF THE NOTICE ISSUED ON 20/5/2010 ISSUED UNDER 13(2)OF SARFAESI ACT. EXT.P2 : COPY OF THE NOTICE ISSUED FOR PUBLIC AUCTION OF THE IMMOVABLE BELONGS TO THE PETITIONER COMPOSED IN RE-SY.NO.83/12 OF HOSDURG TALUK,KASARAGOD. RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A TO JUDGE AV S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 29901 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 10th day of November, 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 respondent 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 respondent 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 respondent to permit the petitioner to pay off the balance amount due in 8 (eight) equal monthly instalments starting from 01.12.2011. Every subsequent W.P.(C)No. 29901 of 2011 -2- 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 respondent 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/