IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 16TH DECEMBER 2011 / 25TH AGRAHAYANA 1933 WP(C).No. 33635 of 2011(D) --------------------------------------- PETITIONER(S): ---------------------- SMT.THANKAMONY ALIAS VIJAYA, W/O.RAMABHADRA PANICKER PROPRIETOR OF M/S.THANGAM PRODUCTS, KOTTINATTUSSERIL HOUSE, S.V. MARKET P.O, KOZHIKODE, KARUNAGAPPALLY 690 518 BY ADVS. SRI.M.R.ANANDAKUTTAN SMT.M.A.ZOHRA SRI.R.S.MADHU SRI.MAHESH ANANDAKUTTAN RESPONDENT(S): ------------------------ 1. THE AUTHORISED OFFICER, CANARA BANK, KARUNAGAPPALLY BRANCH, NOORA'S TOWER, NEAR GOVT.HOSPITAL, PADA NORTH P.O, KARUNAGAPPALLY, KOLLAM DISTRICT, PIN 690 518. 2. THE MANAGER, CANARA BANK, KARUNAGAPPALLY BRANCH, NOORA'S TOWER,NEAR GOVT.HOSPITAL, PADA NORTH P.O,KARUNAGAPPALLY, KOLLAM DISTRICT, PIN - 690 518. R1 & R2 BY ADVS.P.GOPINATHAMENON, SC, CANARA BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: DG WP(C).No. 33635 of 2011(D) APPENDIX PETITIONER(S) EXHIBITS: EXT.P1 : TRUE COPY OF THE NOTICE DATED 13-10-2011 FROM THE BANK EXT.P2 : TRUE COPY OF LETTER DATED 09-05-2011 FROM THE BANK TO THE PETITIONER. RESPONDENTS' EXHIBITS - NIL /TRUE COPY/ P.A.TO JUDGE DG S.SIRI JAGAN, J. ================== W.P.(C).No. 33635 of 2011 ================== Dated this the 16th day of December, 2011 J U D G M E N T The petitioner apprehends proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, by the respondents for recovery of loan amounts due to the respondents from the petitioner. The petitioner is challenging the same. But 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. 3. However, taking a lenient view, I dispose of this writ petition with the following directions; The petitioner shall pay the balance amounts due in six equal monthly instalments starting from 16.1.2012. Every subsequent instalment shall be paid on the first working day after 15th 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. 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 - : 2 :-