IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 11TH OCTOBER 2011 / 19TH ASWINA 1933 WP(C).No. 26794 of 2011(Y) -------------------------- .................... PETITIONERS: --------------------- 1. SREERAM B, SREEMANGALAM T.C, 43/498(7),GNRA-66A, GANGA NAGAR,THIRUVANANTHAPURAM. 2. RESMY SREERAM, SREEMANGALAM T.C, 43/498(7),GNRA-66A, GANGA NAGAR,THIRUVANANTHAPURAM. BY ADV. SRI.PIRAPPANCODE V.S.SUDHEER SRI.T.K.ANANDA KRISHNAN RESPONDENTS: ----------------------- AUTHORISED OFFICER, M/S. H.D.F.C LTD, HDFC HOUSE,VAZHUTHAKAD, THIRUVANANTHAPURAM 695 012. ADV. SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE SRI.A.S.SAJUSH PAUL,SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: MM WP(C).No. 26794 of 2011(Y) APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE TREATMENT CERTIFICATE ISSUED BY THE DOCTOR IN FAVOUR OF THE Ist PETITIONER P2 COPY OF THE INPATIENT BILL ISSUED TO THE Ist PETITIONER P3 COPY OF THE RECEIPT EVIDENCING THAT THE LAST PAYMENT WAS MADE ON APRIL 2011 P4 COPY OF THE NOTICE DATED 04-06-2011 ISSUED BY THE RESPONDENT P5 COPY OF THE STATEMENT OF ACCOUNT FURNISHED BY THE RESPONDENT TO THE PETITIONERS P6 COPY OF THE NOTICE ISSUED FROM AN ADVOCATE COMMISSIONER APPOINTED BY THE CHIEF JUDICIAL MAGISTRATE P7 COPY OF THE ATTESTED COPY OF THE PETITION IN M.C.NO.388/2011 P8 COPY OF THE ORDER PASSED BY THE CHIEF JUDICIAL MAGISTRATE RESPONDENT'S EXHIBITS: NIL TRUE COPY P.A. TO JUDGE MM S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.26794 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 11th day of October, 2011 J U D G M E N T The petitioners are aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondent for recovery of defaulted loan amounts. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondent can show some more leniency to the petitioners in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondent to permit the petitioners to pay off the balance amount due in 5 (five) equal monthly W.P.(C)No.26794 of 2011 -2- instalments starting from 01.11.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioners pay the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioners commit default in payment of any one of the instalments, 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/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/