IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR.JUSTICE S SIRI JAGAN THURSDAY, THE 22ND DECEMBER 2011 / 1ST POUSHA 1933 WP(C).No. 34557 of 2011(T) -------------------------- PETITIONER : ---------- SAJI DEVAN, KULATHINTE KIZHAKKETHIL, MARUTHURKULANGARA SOUTH, ALUMKADAVU P.O., KARUNAGAPPALLY, KOLLAM. BY ADV. SRI.C.A.RAJEEV RESPONDENTS: ----------- 1. THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, CHINNAKKADA, P.B. NO:130, KOLLAM - 691 001 REPRESENTED BY ITS MANAGER. 2. THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., KARUNAGAPPALLY BRANCH, KARUNAGAPPALLY, KOLLAM - 691 018 REPRESENTED BY ITS BRANCH MANAGER. 3. THE AUTHORISED OFFICER, (DEPUTY GENERAL MANAGER), THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, CHINNAKKADA, P.B. NO:130, KOLLAM - 691 001. BY ADV. SRI. M.K CHANDRAMOHAN DAS THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: SP WP(C).No. 34557 of 2011(T) APPENDIX PETITIONER'S EXHIBITS:- 1. EXT. P1 - COPY OF ACCIDENT REGISTER-CUM-WOUND CERTIFICATE DATED 29/03/2011 FROM A.M. HOSPITAL, KARUNAGAPPALLY. 2. EXT. P2 - COPY OF NOTICE DATED 29/06/2011 OF THE 3RD RESPONDENT. RESPONDENTS' EXHIBIT:-NIL //TRUE COPY// P.A. TO JUDGE. SP S.SIRI JAGAN, J. ================== W.P.(C).No. 34557 of 2011 ================== Dated this the 22nd day of December, 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 16.1.2012. Every subsequent instalment shall be paid on the first working day after 15th 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