IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 15TH JULY 2011 / 24TH ASHADHA 1933 WP(C).No. 19280 of 2011(H) ------------------------- PETITIONER : --------------------- JIJO.V.J., S/O.JOSE, ARIMBOOR VADAKKAN, PAZHUVIL PO, THRISSUR DISTRICT. BY ADV. SRI. JIJO PAUL RESPONDENT(S): ------------------------- 1. AUTHORISED OFFICER, (UNDER SARFAESI ACT) THE SOUTH INDIAN BANK LTD., REGIONAL OFFICE, ROUND SOUTH, THRISSUR - 01. 2. MARIAM JOSE @ MARY K. @ BABY, W/O.JOSE (LATE), ARIMBOOR VADAKKAN, PAZHUVIL PO, THRISSUR DISTRICT, PIN - 680 564. R1 BY ADV. SRI. K.K. JOHN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 19280 of 2011(H) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE NOTICE NO. TCR/RO/GEN/PN/91/10-11 DATED 22.10.2010 ISSUED BY THE 1ST RESPONDENT. EXT.P2 : COPY OF THE NOTICE NO. TCR/GEN/PN/215/10-11 DATED 07.03.2011 ISSUED BY THE 1ST RESPONDENT. EXT.P3 : COPY OF THE NOTICE DATED 30.05.2011 ISSUED BY SRI. C.I. MATHEW, ADVOCATE. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.S. TO JUDGE Mn S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 19280 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 15th day of July, 2011. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the 1st respondent for recovery of loan amounts due from the petitioner. The petitioner does not dispute the liability to pay or the tax. The petitioner seeks a facility to pay off the amounts due in instalments. This is opposed by the counsel for bank. He submits that after availing of the loan the petitioner has not paid any amount whatsoever. He further points out that the petitioner has sufficient money to pay off the loan amount. 2. Having heard both sides, I dispose of this writ petition with the following directions: The 1st respondent shall permit the petitioner to pay the balance amount due in 5 equal monthly instalments starting from 1.8.2011. If the petitioner pays the instalments on due dates without default further proceedings under the act shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions or in paying 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. Sd/- S. Siri Jagan, Judge. Tds/