IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.T.RAVIKUMAR TUESDAY, THE 10TH MAY 2011 / 20TH VAISAKHA 1933 WP(C).No. 12926 of 2011(M) -------------------------- PETITIONER(S): --------------- C.MOHANAN, ADVOCATE, VIGINILAYAM, NEAR CHECK POST AMARAVILA, THIRUVANANTHAPURAM. BY ADV. SRI.M.R.SARIN PANICKER RESPONDENT(S): --------------- THE AUTHORISED OFFICER, HDFC BANK LTD, PREMIER BUILDING, OPPOSITE AYURVEDA COLLEGE, M.G.ROAD, THIRUVANANTHAPURAM. ADV.SRI.T.R.RAJESH, STANDING COUNSEL-HDFC BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/05/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.T. RAVIKUMAR, J. -------------------------------------------- W.P.(C). NO. 12926 OF 2011 -------------------------------------------- Dated this the 10th day of May, 2011 JUDGMENT The petitioner has availed a loan to the tune of Rs.4,75,000/- from the respondent bank. Irregular payment of the instalments constrained the respondent bank to resort to coercive steps for realisation of the outstanding amount towards the said loan account. In that regard, they have issued demand notice under Section 13(2) of the Securitisation Act, 2002 directing the petitioner to pay an amount of Rs.3,91,400/- within 60 days. I do not think it necessary to delve into the facts any further in view of the submission made by the learned counsel for the petitioner. The learned counsel for the petitioner submitted that the petitioner would discharge the entire liability in four equal monthly instalments. In view of the said submission, this Writ Petition is disposed of with the following directions:- The respondent bank shall intimate the petitioner regarding the amount required to be paid by the petitioner for discharging the entire liability towards the aforesaid loan account. This shall be done within a W.P.(C) NO.12926/2011 2 period of two weeks. Within one month from such intimation, the petitioner shall pay 1/4th of the amount demanded and the balance amount shall be paid in three equal monthly instalments on or before 30th of every succeeding months. It is made clear that in case of failure on the part of the petitioner to effect prompt payment of the instalments mentioned above, it will be open to the respondents to resort to appropriate steps for realisation of the amount. (C.T. RAVIKUMAR, JUDGE) spc // true copy // P.A. to Judge W.P.(C) NO.12926/2011 3 C.T. RAVIKUMAR, J. JUDGMENT September, 2010 W.P.(C) NO.12926/2011 4