IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN SATURDAY, THE 19TH NOVEMBER 2011 / 28TH KARTHIKA 1933 WP(C).No. 29907 of 2011(K) ------------------------ PETITIONER : --------------------- JYOTHILEKSHMI, JYOTHI BHAVAN, MUTHUPILAKKADU P.O., SASTHAMCOTTA VILLAGE, KOLLAM. BY ADV. SRI.B.KRISHNA MANI RESPONDENT(S): ------------------------- 1. THE DISTRICT CO-OPERATIVE BANK LTD., KOLLAM, REPRESENTED BY SECRETARY, HEAD OFFICE, KOLLAM-691 001. 2. THE AUTHORISED OFFICER, THE DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, KOLLAM-691 001. 3. THE BRANCH MANAGER, BHARANIKKAVU BRANCH, THE DISTRICT CO-OPERATIVE BANK LTD., BHARANIKKAVU, KOLLAM DISTRICT- 691 330. R1 TO R3 BY ADV. SRI. M.K. CHANDRAMOHAN DAS, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/11/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 29907 of 2011(K) APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1- TRUE COPY OF THE NOTICE DATED 26.10.2009 FROM THE 2ND RESPONDENT. EXHIBIT P2- TRUE COPY OF THE REPRESENTATION DATED 5.10.2011 BEFORE THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS : NIL //TRUE COPY// P.A. TO JUDGE Mn S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.29907 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 19th day of November, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 01.12.2011. Every subsequent W.P.(C)No.29907 of 2011 -2- instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one 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/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/