IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 23RD DECEMBER 2011 / 2ND POUSHA 1933 WP(C).No. 35032 of 2011(D) ------------------------------------ PETITIONER: ----------------- DAKSHAYANI.P.V,W/O.CHATHUKUTTY, 72 YEARS OF AGE,KOVILAKAM PARAMBU VEEDU, GOVT.ARTS AND SCIENCE COLLEGE.P.O,MEENCHATHA, KOZHIKODE. BY ADVS. SRI.MANUEL KACHIRAMATTAM SRI. MERRY GEORGE RESPONDENTS: ------------------------ 1. SENIOR MANAGER, THE KOZHIIKOD DISTRICT CO-OPERATIVE BANK,HEAD OFFICE KALLAI ROAD, P.B.NO.503,CHALAPURAM.P.O,KOZHIKODE-673002. 2. THE DISTRICT COLLECTOR,KOZHIKODE, COLLECTORATE,KOZHIKODE-673020. R2 BY GOVT.PLEADER SRI.S.JAMAL R1 ADV. BY P.KUNHIKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JM\\\\ WPC NO. 35032 OF 2011 APPENDIX PETITIONER'S EXHIBITS P1: COPY OF POSSESSION NOTICE DT. 3.2.2011 ISSUED BY THE 1ST RESPONDENT P2: COPY OF RECEIPTS DT. 19.10.2011 AND 17.10.2011. RESPONDENTS EXHIBITS: NIL \\TRUE COPY\\ PA TO JUDGE JM S.SIRI JAGAN, J. ================== W.P.(C).No. 35032 of 2011 ================== Dated this the 23rd day of December, 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 1st respondent 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 time till 31.3.2012 to pay off the entire amounts due. 2. This is opposed by the learned Standing Counsel for the bank. 3. However, taking a lenient view, I dispose of this writ petition with a direction to the 1st respondent to give the petitioner time till 31.3.2012 to pay off the entire amounts due. If the petitioner pays the entire amounts due by 31.3.2012, further proceedings under the Act shall be dropped. However, if the petitioner fails to pay the amounts as directed above, it would be open to the 1st respondent 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 :-