IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 21ST NOVEMBER 2011 / 30TH KARTHIKA 1933 WP(C).No. 30687 of 2011(I) ------------------------------------ CMP.4779/2010 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): ----------------------- MIDHULAJ, S/O.MOHAMMED ILLIAS, SAJ NIVAS, VENCODE, PALAYAMKUNNU P.O., VARKALA, THIRUVANANTHAPURAM, REPRESENTED BY HIS POWER OF ATTORNEY HOLDER & MOTHER MRS.JAMEELA BEEVI, D/O.MARYAM BEEVI, SAJ NIVAS, VENCODE, VARKALA. BY ADV. SRI. G. SUDHEER RESPONDENT(S): ------------------------ STATE BANK OF INDIA, REPRESENTED BY IT'S AUTHORIZED OFFICER, RACPC, LMS COMPOUND, THIRUVANANTHAPURAM - 695 001. BY ADV. SRI. R.S. KALKURA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VPV WPCNO.30687/2011 APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF POWER OF ATTORNEY EXECUTED BY PETITIONER IN FAVOUR OF HIS MOTHER JAMEELA BEEVI. EXT.P2: COPY OF THE NOTICE ISSUED U/S 13 (2) UNDER THE SARFEASI ACT. EXT.P3: COPY OF NOTICE ISSUED BY RESPONDENT 13 (4) OF THE SARFEASI ACT. EXT.P4: COPY OF ORDER IN CMP.4779/10 BY CJM COURT, THIRUVANANTHAPURAM. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE VPV S.SIRI JAGAN, J. ================== W.P.(C).No. 30687 of 2011 ================== Dated this the 21st day of November, 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 respondent 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 1.12.2011. 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 respondent 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 - : 2 :-