IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 7TH DECEMBER 2011 / 16TH AGRAHAYANA 1933 WP(C).No. 32568 of 2011(U) --------------------------------------- CMP.5200/2011 OF CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA. .................... PETITIONER(S): ----------------------- 1. SANAL KUMAR, S/O.V.K. DAMODARAN, AGED 40 YEARS, RESIDING AT SOWMYA NIVAS, ASRAMAM WARD, AVALOOKUNNU P.O., ALLEPPEY. 2. REJANI, AGED 42 YEARS, ELANJICKAL HOUSE, KALAVOOR, ALAPPUZHA. 3. ANIL MICHAEL, AGED 39 YEARS, S/O.MICHEAL, ELANJICKAL HOUSE, KALAVOOR, ALAPPUZHA. 4. RENJITH, AGED 43 YEARS, S/O.MICHEAL, ELANJICKAL HOUSE, KALAVOOR, ALAPPUZHA. 5. BELLAMMA, AGED 68 YEARS, W/O.MICHEAL, ELANJICKAL HOUSE, KALAVOOR, ALAPPUZHA. BY ADV. SMT.S.SUJINI RESPONDENT(S): ------------------------ 1. THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., EVENING BRANCH, REPRESENTED BY ITS BRANCH MANAGER, KIDANGAMPARAMBU, ALAPPUZHA-688 004. 2. THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, REPRESENTED BY ITS AUTHORISED OFFICER, ALAPPUZHA-688 004. BY ADV. MR.P.K. VIJAYAMOHANAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 32568 of 2011(U) APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1: TRUE COPY OF NOTICE ISSUED ADVOCATE COMMISSIONER DATED 29/11/2011. EXHIBIT P2: TRUE COPY OF REQUEST LETTER DATED 03/12/2011. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.S. TO JUDGE rs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 32568 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 7th day of December, 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 respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability or quantum. The petitioner only seeks facility to pay 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 the following directions: The petitioner shall pay the amounts demanded in 10 equal monthly instalments starting from 2.1.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amounts on the due dates without default, further coercive recovery proceedings 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/