IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 31ST OCTOBER 2011 / 9TH KARTHIKA 1933 WP(C).No. 28928 of 2011(M) -------------------------- PETITIONER(S): ------------- RESHMI VINOD, W/O.VINOD KUMAR NANDANAM, DDRA-235, NEAR TV STATION KUDAPPANAKKUNNU, THIRUVANANTHAPURAM -43. BY ADV. SRI.M.SREEKUMAR RESPONDENT(S): ------------- 1. STATE BANK OF INDIA REPRESENTED BY ITS CHIEF GENERAL MANAGER THIRUVANANTHAPURAM 695 033. 2. AUTHORISED OFFICER STATE BANK OF INDIA, STRESSED ASSETS RECOVERY BRANCH, LMS COMPOUND,THIRUVANANTHAPURAM 695 033. 3. MANAGER STATE BANK OF INDIA, CIVIL STATION BRANCH KUDAPPANAKKUNNU, THRIRUVANANTHAPURAM 695 033. BY ADV.SRI.R.S.KALKURA - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AV WPC.NO.28928/2011 APPENDIX PETITIONER(S) EXHIBITS : EXT.P1 COPY OF THE NOTICE NO.SARB/TVM/814/11-12 DT.30.5.2011. EXT.P2 COPY OF THE LAWYERS NOTICE NO.154/2011 DT.31.5.2011. EXT.P3 COPY OF THE REPRESENTATION DT.9.6.2011 FILED BY THE PETITIONER. EXT.P4 COPY OF THE REPRESENTATION DT.16.6.2010 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT. EXT.P5 COPY OF THE STATEMENT OF ACCOUNTS ISSUED FROM STATE BANK OF INDIA DT.14.10.2011. EXT.P6 TRUE COPY OF THE POSSESSION NOTICE DT.13.10.2011 ISSUED BY THE 2ND RESPONDENT. RESPONDENTS' EXHIBITS : NIL /TRUE COPY/ P.A. TO JUDGE AV S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 28928 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 31st day of October, 2011. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the respondents. The respondents have initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the same, which is under challenge in this writ petition. However, the petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off 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 a direction to the respondents to permit the petitioner to pay off the amounts due in 10 equal monthly instalments starting from 1.12.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalment amounts on due dates without default, proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of 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/