IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 25TH OCTOBER 2011 / 3RD KARTHIKA 1933 WP(C).No. 28395 of 2011(Y) ---------------------------------- PETITIONER(S): ------------------- ABDUL JABBAR .A S/O.ABOOBACKAR,AGED 35 YEARS, UMMANPARAMBIL,KAKKAZHAM, AMBALAPPUZHA,ALAPPUZHA DISTRICT BY ADVS. SRI.K.S.HARIHARAPUTHRAN SRI.GEORGE MATHEW RESPONDENT(S): --------------------- 1. STATE BANK OF TRAVANCORE, AMBALAPUZHA, REPRESENTED BY ITS MANAGER, AMBALAPPUZHA 688 561 2. AUTHORISED OFFICER (CHIEF MANAGER,ADVANCES), STATE BANK OF TRAVANCORE, AMBALAPPUZHA 688 561 3. STATE BANK OF TRAVANCORE, REGION 3,ZONAL OFFICE, PANAMBILLY NAGAR, ERNAKULAM 682 036 BY ADV. SRI. SANTHSOH MATHEW, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 28395/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF NOTICE DATED 18/10/2011. P2: COPY OF RECEIPT DATED 21/10/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S.SIRI JAGAN, J. ================== W.P.(C).No. 28395 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. He points out that the remittances referred to in the writ petition are not remittances in the account in question, but are remittances in the loan account taken by one of the guarantors to the loan granted to the petitioner. I am of opinion that that is a matter which the bank has to decide on the basis of their account. 3. Having heard both sides, 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 1.12.2011. 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. w.p.c.28395/11 - : 2 :- 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