IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 1ST SEPTEMBER 2011 / 10TH BHADRA 1933 WP(C).No. 23816 of 2011(B) ---------------------------------- PETITIONER(S): --------------- 1. SUDHEESH.P.T,S/O.THANKACHAN.P.M, AGED 24 YEARS,PUTHENPARAMBIL,BEACH WARD, THIRUVAMPADY.P.O,ALAPPUZHA. 2. THANKACHAN.P.M,S/O.MADHAVAN, AGED 60 YEARS, -DO- , -DO- . BY ADV. SRI.P.KRISHNA KUMAR (ALAPPUZHA) SRI.SUNIL J.CHAKKALACKAL SRI.NAVIN M.EASOW RESPONDENT(S): --------------- 1. UNION BANK OF INDIA,ALAPPUZHA BRANCH, KABEER PLAZA,C.C.S.B.ROAD,MULLACKAL, ALAPPUZHA-688011. 2. THE AUTHORIZED OFFICER UNDER SARFAESI ACT (CHIEF MANAGER)UNION BANK OF INDIA, KOTTAYAM BRANCH,CSI SQUIER,KOTTAYAM-686001. ADV. SRI. ASP KURUP - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 23816 of 2011(B) APPENDIX PETITIONER'S EXHIBITS EXHIBIT P1: TRUE COPY OF POSSESSION NOTICE DATED 25.08.2011. EXHIBIT P2: TRUE COPY OF PASS BOOK OF THE IST PETITIONER. RESPONDENTS' EXHIBITS: NIL. TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.23816 OF 2011 ---------------------------------------------- Dated this the 1st day of September, 2011 JUDGMENT The petitioners challenge proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of the loan amounts due from the petitioner to the respondents. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay off the amounts due 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 petitioners to pay off the balance amount 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 petitioners pay the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. W.P.(C)No.23816/11 2 However, if the petitioners commit 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.23816/11 3