IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 25TH JULY 2011 / 3RD SRAVANA 1933 WP(C).No. 20197 of 2011(Y) ---------------------------------------- PETITIONER(S): ------------------------ GIREESHKUMAR.R,AGED 37 YEARS, S/O.RAJENDRA BABU,KALLUVULA THEKKETHIL ,OPP. TO PREETHY HOSPITAL,VADAKKE MUKKU, KANNANALOOR, KOLLAM,(DIST.) BY ADV. SMT.G.VIDYA RESPONDENT(S): --------------------------- THE AUTHORIZED OFFICER, UNION BANK OF INDIA,M.G.ROAD, STATUE, THIRUVANANTHAPURAM. BY ADV.SRI.A.S.P.KURUP,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.20197/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE ISSUED BY RESPONDENT DATED 19/11/2010. P2 COPY OF THE RECEIPT ISSUED BY THE BANK DATED 22/03/2011. P3 COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER. P4 COPY OF THE DISCHARGE CERTIFICATE FROM AMRITA INSTITUTE MEDICAL SCIENCE & RESEARCH CENTER, ERNAKULAM DATED 11/02/2009. P5 COPY OF THE DISCHARGE CARD FROM ROYAL HOSPITAL, CHATHANNOOR DATED 21/01/2011. P6 COPY OF THE OUTPATIENT CARD FROM ASHTAMUDI HOSPITAL, KOLLAM DATED 19/02/2011. P7 COPY OF THE DISCHARGE CERTIFICATE FROM ANANTHAPURI HOSPITAL, TRIVANDRUM DATED 16/03/2011. P8 COPY OF THE DISCHARGE SUMMERY FROM N.S.HOSPITAL,KOLLAM DATED 23/05/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S.SIRI JAGAN, J. ================== W.P.(C).No. 20197 of 2011 ================== Dated this the 25th 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 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 facility to regularise the loan account by paying the defaulted amounts and to continue to pay the future instalments as per the original loan agreement. 2. This is opposed by the learned counsel for the bank. 3. Having heard both sides, I dispose of this writ petition with the following directions: If the petitioner pays the amounts stipulated by the bank for regularising the loan account within one month, the respondent shall permit the petitioner to regularise the loan account and to pay off the future instalments as per the original loan agreement on due dates. If the petitioner complies with the above directions and continues to pay the instalments as per the original loan agreement 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 either the defaulted amounts or any of the future instalments as per w.p.c.20197/11 2 the loan agreement, it would be open to the 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