IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 14TH OCTOBER 2011 / 22ND ASWINA 1933 WP(C).No. 27135 of 2011(N) -------------------------- PETITIONER(S): --------------- B.A.ABDULLA, S/O.B.A.KHADER, AGED 49 YEARS, BORKALA HOUSE, KODLAMOGARU POST, KASARAGOD TALUK AND DISTRICT. BY ADV. SMT.T.D.RAJALAKSHMI SRI.R.SREEHARI RESPONDENT(S): --------------- 1. STATE BANK OF TRAVANCORE, MANJESHWAR BRANCH REPRESENTED BY THE BRANCH MANAGER, MANJESHWAR, PIN-671 323. 2. AUTHORISED OFFICER (CHIEF MANAGER, ADVANCE) STATE BANK OF TRAVANCORE, REGIONAL OFFICE, KVR TOWER, KANNUR-670 002. BY SRI.T.SETHUMADHAVAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 27135 of 2011(N) APPENDIX PETITIONER(S) EXHIBITS EXT.P1- PHOTOCOPY OF NOTICE SENT U/S.13(2) OF SARFAESI ACT DATED 29.1.2011 BY THE 2ND RESPONDENT. EXT.P2- PHOTO COPY OF THE REPLY SENT BY THE 2ND RESPONDENT DATED 29.8.2011 TO THE REQUEST OF THE PETITIONER. EXT.P3- PHOTOCOPY OF THE REPRESENTATION DT.20.9.2011 SUBMITTED BY THE PETITIONER. EXT.P4- PHOTOCOPY OF THE MEDICAL CERTIFICATE DT.8.10.2011. RESPONDENTS' EXHIBITS : NIL //TRUE COPY// P.A TO JUDGE ab S.SIRI JAGAN, J ------------------------------------------------- W.P(C) No.27135 of 2011 -------------------------------------------------- Dated this the 14th day of October, 2011 J U D G M E N T The petitioner is aggrieved by the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) initiated by the respondents for recovery of defaulted loan amounts. The petitioner does not dispute the liability to pay or the quantum. The petitioner only seeks facility to pay off the amount in instalments. 2. This is opposed by the learned counsel for the Bank. 3. Having heard both sides, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of payment of the balance amount due in instalments. Accordingly, this writ petition is disposed of with a direction to the respondents to permit the petitioner to pay off the balance amount due in 10 (ten) equal monthly instalments starting from 01.11.2011. Every subsequent W.P(C) No.27135 of 2011 2 instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one 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/- S.SIRI JAGAN JUDGE //True Copy// P.A to Judge ab W.P(C) No.27135 of 2011 3