IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 29TH SEPTEMBER 2011 / 7TH ASWINA 1933 WP(C).No. 25920 of 2011(L) ------------------------------------ PETITIONER(S): ---------------------- SATHI RAJEEVE, W/O.RAJEEVE C.K., AGED 40 YEARS, SAJI SADANAM, CHUMATHRA P.O., PUNAKUNNAM MURI, THIRUVALLA, PATHANAMTHITTA. BY ADV. SRI.HAREESH.M RESPONDENT(S): ----------------------- 1. BRANCH MANAGER, STATE BANK OF TRAVANCORE MAIN BRANCH, THIRUVALLA-689001. 2. AUTHORISED OFFICER/ASSISTANT GENERAL MANAGER, STATE BANK OF TRAVANCORE, MAIN BRANCH, THIRUVALLA-689101. BY ADV. SRI. SATHISH NINAN, SC., FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DS WP(C).No. 25920 of 2011(L) APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE NOTICE DATED 16-06-2010 ISSUED BY THE 2ND RESPONDENT. P2: COPY OF THE RELEVANT PAGES OF THE PASS BOOK JOINTLY OWNED BY THE PETITIONER AND HER HUSBAND. P3: COPY OF THE NOTICE DATED 15-03-2011 ISSUED BY THE 1ST RESPONDENT BANK. P4: COPY OF THE NOTICE DATED 14-09-2011 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ PA TO JUDGE DS S.SIRI JAGAN, J. ================== W.P.(C).No. 25920 of 2011 ================== Dated this the 29th 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 2