IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH OCTOBER 2011 / 26TH ASWINA 1933 WP(C).No. 26726 of 2011(M) -------------------------- CMP.1153/2009 of C.J.M.,TRIVANDRUM .................... PETITIONER: ------------------ HALEEMA. R, W/O. HASSANAR, MPM HOUSE T.C.18/2108, MUDUVANMUGAL, POOJAPPURA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.M.SREEKUMAR RESPONDENTS: ----------------------- 1. SOUTH INDIAN BANK LTD, REP.BY ITS CHIEF MANAGER, REGIONAL OFFICE, HOTEL SAFA INTERNATIONAL BUILDING, MALAYALA MANORAMA ROAD, THIRUVANANTHAPURAM-14 2. AUTHORISED OFFICER, SOUTH INDIAN BANK LTD, REGIONAL OFFICE, HOTEL SAFA INTERNATIONAL BUILDING, MALAYALA MANORAMA ROAD, THIRUVANANTHAPURAM-14 R1 & R2 BY ADV. SMT.LIZA P.CHERIAN R1 & R2 SRI.GEORGE VARGHESE,SC,SOUTH INDIAN BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P (C) No.26726/2011 APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : TRUE COPY OF THE NOTICE NO.TVM/RN/LEG/OTH/1034/06-07 DATED 13-03-2007. EXT.P2 : TRUE COPY OF THE NOTICE NO.TVM/RN/LEG/OTH/1034/06-07 DATED 26-05-2007. EXT.P3 : TRUE COPY OF THE JUDGMENT OF THIS HON'BLE COURT IN W.P (c) NO.9701/2007 DATED 10-04-2007. EXT.P4 : TRUE COPY OF THE JUDGMENT OF THIS HON'BLE COURT IN W.P (c) NO.17332/2007 DATED 06-06-2007. EXT.P5 : TRUE COPY OF THE JUDGMENT OF THIS HON'BLE COURT IN W.P (c) NO.20203/2007 DATED 02-07-2009. EXT.P6 : TRUE COPY OF THE JUDGMENT OF THIS HON'BLE COURT IN W.P (c) NO.9648/2011 DATED 03-08-2011. EXT.P7 : TRUE COPYOF THE ORDER IN CMP NO.1153/2009 OF THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM DATED 20-09-2011. EXT.P8 : TRUE COPY OF THE MEMO FILED BY THE PETITIONER IN SA No.377/09 BEFORE THE DEBT RECOVERY TRIBUNAL, ERNAKULAM DATED 12-10-2011. EXT.P9 : TRUE COPY OF THE PETITION, I.A. No.2225/2011 IN SA N.377/09 FILED BY THE PETITIONER BEFORE THE DEBTS RECOVERY TRIBUNAL, ERNAKULAM DATED 12-10-2011 RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.A. TO JUDGE AMG S. SIRI JAGAN, J. ------------------------------------------------- W.P.(C) No. 26726 OF 2011 ------------------------------------------------- DATED THIS THE 18th DAY OF OCTOBER, 2011 J U D G M E N T The petitioner filed this writ petition challenging proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for recovery of loan amount due from the Petitioner to the Respondents. Petitioner has already filed an application under Section 17 of the Act before the Debts Recovery Tribunal. When the mater was taken up on 11-10-2011 I directed the petitioner to decide as to which of the two proceedings the petitioner should pursue. The petitioner now submits that the petitioner has already withdrawn the securitization application filed before the Debts Recovery Tribunal. Petitioner now submits that the petitioner only seeks facility to pay off the amounts in installments. The petitioner also submits that he has no further contention in respect of the subject and the petitioner limits his prayer for time to pay off the amounts due. This is opposed by the counsel for the Bank. He submits that the petitioner had filed several writ petitions in W.P.(C) No.26726/2011 -2- respect of the same subject matter and the petitioner is not entitled to any further indulgence in the matter. 2. Having heard both sides I dispose of the writ petition with a direction to the respondents to permit the petitioner to pay off the entire amount before 31-12-2011. To show the petitioner's bonafides petitioner shall pay one-third of the amounts due on 01-11-2011. The balance amount shall be paid on or before 31-12-2011. If the petitioner pays the initial amount as directed further coercive steps shall be kept in abeyance. However, if the petitioner commits default in payment of either the initial amount or balance amount as directed above 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. AMG True copy P.A to Judge