IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 18TH AUGUST 2011 / 27TH SRAVANA 1933 WP(C).No. 22506 of 2011(K) ---------------------------------------- PETITIONER(S): --------------------- SURYA KALADEVI, D/O.VIJAYAMMA, AGED 45 YEARS, ANIL BHAVAN, KURIYODU CHADAYAMANGALAM VILLAGE, KOTTARAKARA. BY ADV. SRI.ALEXANDER GEORGE RESPONDENT(S): -------------------------- 1. KOLLAM DISTRICT CO-OPERATIVE BANK REPRESENTED BY ITS MANAGER CHADAYAMANGALAM BRANCH, KOTTARAKARA, PIN-691 001. 2. AUTHORIZED OFFICER KOLLAM DISTRICT CO-OPERATIVE BANK HEAD OFFICE, KOLLAM, PIN-691 001. R1 & R2 BY ADV. MR.M.K. CHANDRAMOHAN DAS, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/08/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 22506 of 2011(K) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 03/10/2009 SENT BY THE SECOND RESPONDENT. EXT.P2: COPY OF THE LETTER DATED 01/01/2011 SENT BY THE FIRST RESPONDENT. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE rs S.SIRI JAGAN, J. ================== W.P.(C).No. 22506 of 2011 ================== Dated this the 18th day of August, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of loan amounts defaulted by the petitioner. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amounts due in instalments. 2. This is opposed by the learned counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amount due in twelve equal monthly instalments starting from 1.10.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, 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/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2