IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 7TH SEPTEMBER 2011 / 16TH BHADRA 1933 WP(C).No. 24538 of 2011(N) -------------------------- MC.171/2011 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- LETHA, W/O.JAGENDRADEVAN, AGED 48 YEARS, RESIDING AT PARAMBILTHITTA, KADAKKAVOOR, THIRUVANANTHAPURAM. BY ADV. SRI.AYYAPPAN SANKAR RESPONDENT(S): --------------- 1. STATE OF KERALA, REPRESENTED BY THE SECRETARY TO GOVERNMENT, PLANNING AND FINANCIAL AFFAIRS (F) DEPARTMENT, GOVERNMENT SECRETARIAT,THIRUVANANTHAPURAM-695001. 2. ASSISTANT GENERAL MANAGER, GRIEVANCE REDRESSAL OFFICER ADWDRS-2008, SOUTH INDIAN BANK, S.I.B.HOUSE, T.B.ROAD, P.B.NO.28, THRISSUR-680 001. 3. THE AUTHORISED OFFICER, SOUTH INDIAN BANK LTD., REGIONAL OFFICE, HOTEL SAFA INTERNATIONAL BUILDING, P.B.NO.473, T.C.NO.27/1075, NEAR ARISTO JUNCTION, EAST THAMPANOOR, THIRUVANANTHAPURAM-695 014. GOVERNMENT PLEADER SHRI.C.K.GOVINDAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No. 24538/2011 APPENDIX PETITIONER(S)' EXHIBITS P1. COPY OF THE NOTICE DTD.4.6.07 BY R3. P2. COPY OF THE AGRICULTURAL DEBT WAIVER AND DEBT RELIEF SCHEME, 2008. P3. COPY OF THE LETTER DTD.12.11.2008 BY R2. P4. COPY OF THE LETTER DTD.3.12.08 BY R1. P5. COPY OF THE PETITION FILED BY R3 BEFORE C.J.M COURT, THIRUVANTHAPURAM. sdk+ ///True copy/// P.A. to Judge S.SIRI JAGAN, J. ================== W.P.(C).No. 24538 of 2011 ================== Dated this the 7th day of September, 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 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. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in ten equal monthly instalments starting from 1.10.2011. 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, further proceedings under the Act 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 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