IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 1ST JULY 2008 / 10TH ASHADHA 1930 WP(C).No. 18495 of 2008(B) -------------------------------------- CMP.1162/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER : ------------------ A.SUMESHKUMAR, S/O.AYYAPPAN NAIR.K., KUNNUMPURATHU HOUSE, PUTHUVEETTUMELA, PERUKAVU PO, VILAVOORKAL, THIRUVANANTHAPURAM- 695 573. BY ADV. SRI.M.C.ANTONY RESPONDENTS : ---------------------- 1. THE AUTHORIZED OFFICER, CHIEF MANAGER (ADVANCES) STATE BANK OF TRAVANCORE, REGION-II, ZONAL OFFICE, THIRUVANANTHAPURAM-695 001. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, PEYED BRANCH, THIRUVANANTHAPURAM. BY SRI.R.S.KALKURA, SC, SBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J ============== W.P.(C).No. 18495 OF 2008 ==================== Dated this the 1st day of July, 2008. J U D G M E N T The petitioner is a defaulter of repayment of loan amounts due to the respondents. Respondents have initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, which is under challenge in this writ petition. However, the petitioner does not now challenge the liability or the quantum. He only seeks facility to pay the balance amounts due in instalments. 2. This is opposed by the counsel for the bank. he would point out that in Ext.P3 representation dated 25.3.2008, the petitioner had sought only three months' time, which three months' are over and the petitioner did not pay any amount, until this Court by interim order dated 19.6.2008, directed the petitioner to pay Rs. One Lakh. 3. I have considered the contention of the parties. 4. I feel that the petitioner can be given some time to pay the balance amount due in instalments. W.P.(C).No. 18495 OF 2008 2 Accordingly, the writ petition is disposed of, directing the petitioner to pay the balance amount in three equal instalments payable on 1.8.2008, 1.9.2008 and 1.10.2008. If the petitioner pays the instalments in time as directed above, further proceedings under the Act shall be kept in abeyance. However, if the petitioner fails to pay any one instalment, it would be open to the respondents to continue proceedings as now initiated without having to issue fresh notice or proceedings in that regard. S.SIRI JAGAN, JUDGE bkn/-