IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 18TH AUGUST 2011 / 27TH SRAVANA 1933 WP(C).No. 22510 of 2011(K) -------------------------- PETITIONER(S): --------------- ANITHA, W/O. MR. KRISHANDASAN.C.P., KRISHNA NIVAS, PANAYUR.P.O., VANIYAMKULAM, PALAKKAD-678560. BY ADV. SMT.E.V.MOLY RESPONDENT(S): --------------- HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED POST BOX NO.1667, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI-682015, REPRESENTED BY ITS AUTHORIZED OFFICER. ADV. SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE SRI.A.S.SAJUSH PAUL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C).No. 22510/11 APPENDIX PETITIONER(S)' EXHIBITS P1. COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT. sdk+ ///True copy/// P.A. to Judge S.SIRI JAGAN, J. ================== W.P.(C).No. 22510 of 2011 ================== Dated this the 18th day of August, 2011 J U D G M E N T The petitioner challenges Ext.P1 notice issued under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, in respect of recovery of loan amounts from the petitioner to the respondent. The petitioner seeks facility to regularise the loan account by paying the defaulted amounts and to continue payment of the instalments as per the original loan agreement. 2. This is opposed by the learned counsel for the bank, who points out that only Section 13(2) notice has been issued and the petitioner can very well file objections. 3. Despite the fact that Section 13(2) notice cannot be a subject matter of challenge, in view of the fact that the petitioner offers to pay the outstanding defaulted amounts, I am inclined to permit the petitioner to regularise the loan account. Accordingly, this writ petition is disposed of with the following directions: If the petitioner pays the defaulted instalments of repayment of loan with interest and costs within one month, the respondent shall permit the petitioner to regularise the loan account and to pay off the future instalments as per the original loan agreement. If the petitioner w.p.c.22510/11 2 complies with the above directions and continues to pay the future instalments as per the original loan agreement 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 either the defaulted amounts or any of the future instalments as per the loan agreement, 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