IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 22ND AUGUST 2011 / 31ST SRAVANA 1933 WP(C).No. 22765 of 2011() ------------------------- PETITIONER(S): --------------- RAMACHANDRAN NAIR, VADAKKE VEEDU, DALUMUGHOM P.O., OTTASEKHARAMANGALAM, THIRUVANANTHAPURAM. PIN-695 125 BY ADV. SRI.BLAZE K.JOSE RESPONDENT(S): --------------- 1. STATE BANK OF TRANVANCORE, OTTASEKARAMANGALAM BRANCH, THIRUVANANTHAPURAM, PIN-695 125, REPRESENTED BY ITS BRANCH MANAGER. 2. THE AUTHORISED OFFICER, CHIEF MANAGER, STATE BANK OF TRAVANCORE, REGION II, ZONAL OFFICE, KSHB BLG., SANTHINAGAR, THIRUVANANTHAPURAM, PIN-695 001. ADV.R.S.KALKURA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No. 22765/2011 APPENDIX PETITIONER(S)' EXHIBITS P1. COPY OF THE STATEMENT OF ACCOUNTS. P2. COPY OF THE NEWS REPORT DTD.11.2.2003. P3. COPY OF THE NEWS REPORT DTD.20.2.2003. P4. COPY OF THE ORDER IN M.C.NO.326/11 DTD.23.6.11 OF the C.J.M., THIRUVANANTHAPURAM. sdk+ ///True copy/// P.A. to Judge S.SIRI JAGAN, J. ================== W.P.(C).No. 22765 of 2011 ================== Dated this the 22nd day of August, 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 six 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, 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