IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 25TH OCTOBER 2011 / 3RD KARTHIKA 1933 WP(C).No. 28404 of 2011(A) ------------------------ PETITIONER : --------------------- YAMUNA, AGED 29 YEARS, W/O.UMESH, RESIDING AT "USHUS", PAVITHRESWARAM MURI, PAVITHRESWARAM VILLAGE, KOTTARAKARA TALUK, KOLLAM DISTRICT. BY ADV. SRI.K.V.ANIL KUMAR RESPONDENT(S): -------------------------- 1. THE AUTHORIZED OFFICER (DEPUTY GENERAL MANAGER), THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, KOLLAM, PIN-691001. 2. THE BRANCH MANAGER, THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., PUTHOOR M&E BRANCH, PUTHOOR P.O., KOLLAM DISTRICT, PIN-691507. R1 & R2 BY ADV. SRI. M.K. CHANDRAMOHANDAS, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 28404 of 2011(A) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF NOTICE DATED 13.10.2011 ISSUED BY THE 1ST RESPONDENT. RESPONDENT'S EXHIBITS : NIL //TRUE COPY// P.S. TO JUDGE Mn S.SIRI JAGAN, J. ================== W.P.(C).No. 28404 of 2011 ================== Dated this the 25th day of October, 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 amounts due in ten equal monthly instalments starting from 1.11.2011. 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 :-