IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 22ND JANUARY 2008 / 2ND MAGHA 1929 WP(C).No. 2476 of 2008(T) ------------------------- PETITIONER: ------------ SHINE, AGED 45, S/O.SIVARAMADAS, KOTTEKAT HOUSE, CHAZHOOR P.O., THRISSUR. BY ADV. SRI.VARGHESE PREM RESPONDENTS: ------------- THE THRICHUR URBAN CO-OPERATIVE BANK LTD., REPRESENTED BY ITS AUTHORIZED OFFICER, THRICHUR URBAN CO-OPERATIVE BANK LTD.NO.87, HEAD OFFICE, MISSION QUARTERS, THRISSUR-1. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL.B.RADHAKRISHNAN, J. --------------------------------- W.P(c)No.2476 OF 2008 ------------------------------------ Dated this the 22nd day of January, 2008 JUDGMENT On 12/07/1999, a loan was disbursed by the first respondent. That has now lead to Ext.P1 being issued on 07/07/2004 under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. The only submission made on behalf of the petitioner who is one among the debtors under Ext.P1 is that the transaction may be permitted to be discharged by paying the amounts in instalments. I am not inclined to give any time to the petitioner beyond the end of the current financial year. 2. Having regard to the fact that the account turned stickly and no payment was made in terms of law, the loan account has been classified as NPA and it will be too late in the day to grant any further indulgence against the loan which was availed way back on 12/07/1999. Under such circumstances, this writ petition is disposed of WPC.NO.2476/08 2 directing that further proceedings on the basis of Ext.P1 will stand stayed till 29/03/2008 to enable the petitioner to pay off the entire out standings due under the transaction in three equal monthly instalments payable on or before 31/01/2008, 22/02/2008 and 24/03/2008. If there is default in remitting any of the instalments, the benefit of this judgment shall stand recalled automatically and respondents are at liberty to proceed against the peititoner without further notice. It is also clarified that this judgment shall not stand in the way of the respondent creditor bank extending any ameliorative benefit that may be available to the debtors. THOTTATHIL.B.RADHAKRISHNAN JUDGE sv.