IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 28TH JULY 2011 / 6TH SRAVANA 1933 WP(C).No. 18811 of 2011(B) ---------------------------------- PETITIONER(S): ------------------- K.V.KRISHNAN, AGED 55 YEARS, S/O. LATE VELAYUDHAN, KAIPULLY HOUSE, P.O.ARIMBUR, THRISSUR. BY ADV. SRI.M.B.PRAJITH RESPONDENT(S): -------------------- 1. THE THRISSUR DISTRICT CO-OPERATIVE BANK AYYANTHOLE BRANCH, AYYANTHOLE, THRISSUR, PIN-680003, REP. BY ITS MANAGER. 2. THE AUTHORIZED OFFICER, THE THRISSUR DISTRICT CO-OPERATIVE BANK, H.O.SHAHAKARANASATHA- BTHI MANDIRAM, TUDA ROAD, KOVILAKATHUMPADAM, THIRUVAMBADI.P.O., THRISSUR-680022. 3. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES/ARBITRATOR CUM SALES OFFICER, THE THRISSUR DISTRICT CO-OPERATIVE BANK, H.O.SAHAKARANASATHABTHI MANDIRAM, TUDA ROAD, KOVILAKTHUMPADAM, THIRUVAMBADI.P.O., THRISSUR-680022. R1 & R2 BY ADV. SRI. P.C.SASIDHARAN, SC., CO-OP. BANK R3 BY GOVT.PLEADER SRI.C.K.GOVINDAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO.18811/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE SALE NOTICE. P2: COPY OF THE RECEIPT DATED 11/02/2011 FOR AN AMOUNT OF RS.40,000/- P3: COPY OF THE RECEIPTS DATED 03/03/2010. P4: COPY OF THE RECEIPTS DATED 05/10/2010. P5: COPY OF THE NOTICE DATED 14/02/2011 ISSUED BY THE 2ND RESPONDENT. P6: COPY OF THE ORDER DATED 01/03/2011 IN WPC.NO.6459/2011 OF THIS HONOURABLE COURT. P7(a) AND P7(b):COPY OF THE CHALLANS DATED 30/03/2011 ISSUED BY THE 1ST RESPONDENT. P8: COPY OF THE CHALLAN DATED 28/04/2011 ISSUED BY THE 1ST RESPONDENT. P9: COPY OF THE CHALLAN DATED 31/05/2011 ISSUED BY THE 1ST RESPONDENT. P10: COPY OF THE NOTICE DATED 07/07/2011 ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S.SIRI JAGAN, J. ================== W.P.(C).No. 18811 of 2011 ================== Dated this the 28th day of July, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of the loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the bank. 3. Having heard both sides, I am of opinion that some more leniency can be shown to the petitioner in the matter of paying off the balance amounts in instalments. Accordingly, this writ petition is disposed of with the following directions: The petitioner shall pay the balance amounts due in five 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 the due dates without default, coercive proceedings for recovery of the amounts shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, it would be open to the respondents to w.p.c.18811/11 2 continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge