IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 22ND SEPTEMBER 2011 / 31ST BHADRA 1933 WP(C).No. 24750 of 2011(P) --------------------------------------- PETITIONER(S): --------------------- SANTHAMMA, W/O.DASAPPPEN, KRISHNAVILASAM, THANNITHODU, KOZHENCHERRY, PATHANAMTHITTA DISTRICT, PIN-689699. BY ADVS. SRI.T.H.ABDUL AZEEZ SMT.M.ISHA RESPONDENT(S): ------------------------ 1. KERALA STATE FINANCIAL ENTERPRISES LTD., MUSEUM ROAD, P.B.NO.510, THRISSUR-680020, REP. BY ITS MANAGING DIRECTOR. 2. THE BRANCH MANAGER, KERALA STATE FINANCIAL ENTERPRISES LTD., MEDICAL COLLEGE BRANCH, NEW TRIDA CENTRE, 2ND FLOOR, MEDICAL COLLEGE P.O., THIRUVANANTHAPURAM-695011. 3. THE SPECIAL DEPUTY TAHSILDAR (RR), KERALA STATE FINANCIAL ENTERPRISES LTD., KOLLAM-691001. R1 TO R3 BY ADV. SRI.M.SASINDRAN, SC, K.S.F.E., LTD. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: STU WPC NO.24750/2011 P APPENDIX PETITIONER'S EXHIBITS: P1 : COPY OF THE DEMAND NOTICE DTD 15/10/2010 ISSUED BY THE 3RD RESPONDENT UNDER SEC.34 OF THE REVENUE RECOVERY ACT. P2 : COPY OF THE ATTACHMENT NOTICE. P3 : COPY OF THE ACKNOWLEDGEMENT FOR RECEIPT OF MONEY ISSUED BY THE 3RD RESPONDENT ON 28/02/2011. P4 : COPY OF THE ACKNOWLEDGEMENT FOR RECEIPT OF MONEY ISSUED BY THE 3RD RESPONDENT ON 06/04/2011. P5 : COPY OF THE SALE NOTICE DTD 24/06/2011 ISSUED BY THE 3RD RESPONDENT. P6 : COPY OF THE ACKNOWLEDGEMENT FOR RECEIPT OF MONEY ISSUED BY THE 3RD RESPONDENT ON 08/08/2011 P7 : COPY OF THE SALE NOTIFICATION DTD 01/09/2011. RESPONDENT'S EXHIBITS: NIL //TRUE COPY/ P.A TO JUDGE STU S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.24750 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of September, 2011 J U D G M E N T The petitioner defaulted repayment of loan amount taken from the 1st respondent. The 1st respondent initiated revenue recovery proceedings and the petitioner's property was advertised for sale. That is under challenge in this writ petition. The petitioner submits that, on 08.08.2011 the petitioner remitted a sum of Rs.20,000/- which has not been credited in the petitioner's account and the sale notice has been issued without giving credit for Rs.20,000/-. She submits that, altogether the petitioner has paid an amount of Rs.90,000/-. The petitioner seeks time to pay off the balance amount in installments. 2. This is opposed by the counsel for the K.S.F.E. who points out that, earlier the petitioner herself assured the bank that she would clear off the entire dues this month itself, but did not pay and amount. 3. Having heard both sides, I dispose of this writ petition with the following directions: W.P.(C)No.24750 of 2011 -2- The petitioner shall pay an amount of Rs.50,000/- on or before 31.10.2011. The petitioner shall pay a further amount of Rs.50,000/- on or before 31.12.2011. The balance amount shall be paid in 5 (five) equal monthly installments starting from 01.02.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the initial amounts and the instalments on due dates without default, further proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act shall be kept in abeyance. However, if the petitioner commits default in payment of either the initial amounts or any of the subsequent 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 shg/