IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 30TH SEPTEMBER 2009 / 8TH ASWINA 1931 WP(C).No. 587 of 2007(T) ------------------------ PETITIONER(S): ------------------ K.T.HAFSATH, W/O. T.P.HUSSAIN, THANDUPARAKKAL HOUSE, MAMPAD P.O., MALAPPURAM DISTRICT. BY ADV. SRI.T.K.AJITH KUMAR SRI.SUSHANTH.J. RESPONDENT(S): ------------------- 1. NILAMBUR CO-OPERATIVE URBAN BANK LTD., NILAMBUR P.O., MALAPPURAM DISTRICT, REPRESENTED BY ITS SECRETARY. 2. DY. GENERAL MANAGER (THE AUTHORISED OFFICER), NILAMBUR CO-OPERATIVE URBAN BANK LTD., NILAMBUR P.O., MALAPPURAM DISTRICT. ADV. SRI.DEVAPRASANTH.P.J. FOR R2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 30/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WPC NO.587/07 APPENDIX PETITIONER'S EXHIBITS EXT.P1:NOTICE DATED 15.11.2006 ISSUED BY THE 2ND RESPONDENT. //TRUE COPY// P.A. TO JUDGE Rp ANTONY DOMINIC, J. ================ W.P.(C) NO. 587 OF 2007 (T) ===================== Dated this the 30th day of September, 2009 J U D G M E N T The challenge in this writ petition is against the proceedings initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It is seen that by orders dated 5/1/2007 and 19/2/2007, petitioner was directed to pay the amount due to the Bank in monthly instalments of Rs.40,000/- each. Although both sides submit that substantial payment has been made in compliance thereof, according to the Bank, as atpresent, the balance outstanding from the petitioner is Rs.66,737/- 2. Having regard to the fact that the petitioner has made substantial payments in compliance with the interim orders of this court, it is only appropriate that the petitioner is provided an opportunity to discharge the balance liability as well. Accordingly, the writ petition is disposed of directing that the petitioner will be at liberty to pay the balance amount due to the Bank in two equal monthly instalments, the first of which shall be paid on or before 15th of October 2009 and the second WPC 587/07 :2 : instalment on or before 15th of November, 2009. Subject to such payment and discharging the liability to the Bank, it is directed that the impugned proceedings shall be recalled. ANTONY DOMINIC, JUDGE Rp