IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 6TH JULY 2011 / 15TH ASHADHA 1933 WP(C).No. 15322 of 2011(M) ---------------------------------------- PETITIONER(S): ----------------------- NIZAR.S., S/O. SULAIMANKUNJU, VAZHAVILAYIL VEEDU, PALLISSERIKKAL MURI, PALLISSERIKKAL.P.O., SASTHAMKOTTA VILLAGE, KUNNATHOOR, KOLLAM. BY ADVS. SRI.VINOY VARGHESE KALLUMOOTTILL SMT.P.SHYAMA RESPONDENT(S): -------------------------- 1. THE AUTHORISED OFFICER, UNION BANK OF INDIA, M.G.ROAD, STATUE, THIRUVANANTHAPURAM-695 001. 2. MANAGER, UNION BANK OF INDIA, KARUNAGAPPALLY BRANCH, KOLLAM DISTRICT- 691 001. 3. B.S.ANUP, ADVOCATE COMMISSIONER, CMP NO.3523/2010,CHIEF JUDUCIAL MAGISTRATE COURT, KOLLAM.691 001. BY ADV. SRI.A.S.P.KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.15322/2011 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE JUDGMENT IN WP(C) 17605/2010. P2:- COPY OF THE RECEIPT DTD. 27.9.2010. P3:- COPY OF THE RECEIPT DT. 14.1.2011. P4:- COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DTD. 3.6.2011. P5:- COPY OF THE AGREEMENT OF SALE DATED 20.5.2011. P6:- COPY OF THE AGREEMENT OF SALE DTD. 20.5.2011. P6:- COPY OF THE RECEIPT DTD. 19.5.2011. P7:- COPY OF THE ACCOUNTS ISSUED BY THE 2ND RESPONDENT BANK FOR THE PERIOD FROM 14.9.2007 TO 28.5.2011. RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.S. TO JUDGE tss S. SIRI JAGAN, J. ........................................... W.P.(C).NO.15322 OF 2011 ............................................. Dated this the 6th day of July, 2011. JUDGMENT The petitioner is challenging the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by respondents 1 an 2 for recovery of loan amounts due from the petitioner to respondents 1 and 2. The petitioner does not dispute the liability to pay or the quantum. He only seeks facility to pay the amounts in instalments. This is opposed by the counsel for the Bank. The Bank submits that the Bank has filed an OA before the DRT and it is too late for the petitioner to seek further time in the matter. 2. After hearing both sides, I am of the opinion that the Bank can show some more leniency to the petitioner in the matter of paying of the balance amount in instalments. Accordingly, this writ petition is disposed of with a direction to respondents 1 and 2 to permit the petitioner to pay the balance amounts due in nine equal monthly instalments starting from 1.8.2011. Every subsequent instalment shall W.P.(C).NO.15322 OF 2011 : 2 : be paid on the first working day of every succeeding month. 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 payment of any one of the instalments, it would be open to the respondents to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/= S. SIRI JAGAN, JUDGE. /true copy/ P.S. to Judge cl