IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 7TH JULY 2011 / 16TH ASHADHA 1933 WP(C).No. 16717 of 2011(L) --------------------------------------- PETITIONER: ------------------- PREETHY MATHEW, D/O.A.S. MATHEW, AGED 38 YEARS, APPAKOTTUMURIYIL HOUSE, THURUTHIKKADA.P.O, MALLAPPALLY, PATHANAMTHITTA. BY ADV. SRI.BIJU ABRAHAM. RESPONDENTS: ------------------------ 1. UCO BANK, REPRESENTED BY ITS AUTHORISED OFFICER, ZONAL OFFICE, ERNAKULAM - 682 011. 2. THE BRANCH MANAGER, UCO BANK, THIRUVALLA BRANCH, CROSS JUNCTION, THIRUVALLA - 689 101. R1 & R2 BY ADV. SRI.GEORGE KARITHANAM VARGHESE,S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.16717/2011-L: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE NOTICE DTD. 31/01/2011 ISSUED BY THE R.1. TO THE PETITIONER. EXT.P.2: COPY OF THE REPRESENTATION DTD 25/02/2011. EXT.P.3: COPY OF THE NOTICE DTD. 15/06/2011 OF THE R.1. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE. Prv. S.SIRI JAGAN, J. ================== W.P.(C).No. 16717 of 2011 ================== Dated this the 7th day of July, 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 the 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. I have heard the learned counsel for the bank also, who opposes the prayer of the petitioner. 3. Having heard both sides, I dispose of this writ petition with the following directions: The 2nd respondent shall issue to the petitioner a statement of accounts regarding the balance amounts due from the petitioner to the respondents within two weeks from today. Thereupon, the petitioner shall pay off the balance amounts in eight equal monthly instalments starting from 1.8.2011. 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, coercive proceedings for recovery of the amounts shall be kept in abeyance. However, if the petitioner commits default in payment of any of the instalments, it w.p.c.16717/11 2 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