IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 3RD NOVEMBER 2011 / 12TH KARTHIKA 1933 WP(C).No. 29364 of 2011(U) -------------------------------- PETITIONER: -------------- SARASI KUTTAPPAN, AGED 49 YEARS, D/O. APPI AMMA, AJEESH BHAVAN, KANJIRAMKULAM VILLAGE, KANJIRAMKULAM P.O., NEYYATIINKARA, PIN – 695 524. BY ADV. SRI.R.GOPAN RESPONDENTS: ------------------ 1. THE AUTHORIZED OFFICER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, KANJIRAMKULAM BRANCH, KANJIRAMKULAM, NEYYATTINKARA. BY SRI. K.G. RADHAKRISHNAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No.29364/2011 A P P E N D I X PETITIONER'S EXHIBITS: EXT. P1 : COPY OF NOTICE SENT BY R1 TO PETITIONER DTD. 29.10.11. EXT. P2 : COPY OF RECOVERY NOTICE DTD. 29.10.11 ISSUED BY R1 TO PETITIONER. RESPONDENT'S EXHIBITS: NIL. // True Copy // P.A. to Judge. smp S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.29364 of 2011 ---------------------------------------------- Dated this the 3rd day of November, 2011 JUDGMENT The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents for recovery of the loan amounts due from the petitioner to the respondents. 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. However, taking a lenient view, I dispose of this writ petition with the following directions: The respondents shall permit the petitioner to pay off the balance amount due in ten equal monthly instalments starting from 1.12.2011. 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 W.P.(C)No.29364/11 2 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 to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. S. SIRI JAGAN, JUDGE acd W.P.(C)No.29364/11 3