IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 4TH OCTOBER 2011 / 12TH ASWINA 1933 WP(C).No. 25407 of 2011(A) -------------------------- PETITIONER(S): -------------- SANTHAMMA.P.N., AGED 52 YEARS, W/O YASODHARAN, PUTHUSSERIL HOUSE, UDUMBANCHOLA.P.O., IDUKKI DISTRICT. BY ADV. SRI.JAISON JOSEPH RESPONDENT(S): -------------- 1. THE FEDERAL BANK LTD., NEDUMKANDAM BRANCH, IDUKKI DISTRICT. REPRESENTED BY ITS SENIOR MANAGER, PIN - 685 553 2. THE AUTHORIZED OFFICER & CHIEF MANAGER, THE FEDERALBANK LTD., REGIONAL OFFICE, KOTTAYAM - 686 001 R1 BY ADV. SRI.MOHAN JACOB GEORGE SMT.P.V.PARVATHI SMT.REENA THOMAS R2 BY ADV. SRI.L.RAM MOHAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 04/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: BKA WP(C).No. 25407 of 2011(A) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: TRUE PHOTOSTAT COPY OF THE PASS BOOK. EXT.P2: TRUE PHOTOCOPY OF THE LETTER DATED 12-8-2011. EXT.P3: TRUE PHOTOCOPY OF THE NOTICE DATED 25-8-2011. RESPONDENTS' EXHIBITS: NIL //TRUE COPY// PA TO JUDGE BKA S.SIRI JAGAN, J. ================== W.P.(C).No. 26407 of 2011 ================== Dated this the 4th 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