IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 2ND NOVEMBER 2011 / 11TH KARTHIKA 1933 WP(C).No. 29218 of 2011(B) ------------------------------------ PETITIONER(S): ----------------------- THANKARAJAN, S/O.CHELLAPPAN, AGED 55 YEARS, PUTHUVAL PUTHENVEEDU, ONAMKODE, CHAIKKOTTUKONAM P.O., THIRUVANANTHAPURAM - 695 122 BY ADV. SRI.C.C.ABRAHAM RESPONDENT(S): ------------------------ 1. THE AUTHORIZED OFFICER, ICICI BANK LTD, BRANCH OFFICE, NEAR STATUE, M.G.ROAD, THIRUVANANTHAPURAM- 695 001. 2. THE ICICI BANK LTD, BRANCH OFFICE, NEAR STATUE, M.G.ROAD, THIRUVANANTHAPURAM – 695 001. 3. THE STATE OF KERALA, REPRESENTED BY GOVERNMENT PLEADER, HIGH COURT OF KERALA - 31. BY ADVS. SRI. K.K.M.SHERIFF SRI.LAL K.JOSEPH FOR S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AV WPC.NO.29218/2011 APPENDIX PETITIONER(S) EXHIBITS : EXT.P1 : COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN M.C.NO.418/2011 OF THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A. TO JUDGE AV S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 29218 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 2nd day of November, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the respondents. The respondents have initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the same, which is under challenge in this writ petition. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with a direction to the respondents to permit the petitioner to pay off the amounts due in 10 equal monthly instalments starting from 1.12.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, 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. If possession has already been taken today, it shall be returned to the petitioner subject to the above conditions. Sd/- S. Siri Jagan, Judge. Tds/