IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 10TH NOVEMBER 2009 / 19TH KARTHIKA 1931 WP(C).No. 31797 of 2009(T) ---------------------------------- PETITIONER(S): -------------------- S.K.SHEEJA, AGED 46, W/O.S.K.JAYACHANDRAN, RESIDING AT 'SHEEJA NIVAS', MAMPAZHAKKARA, VILLAGE PERUMPAZHATHOOR, NEYYATTINKARA TALUK, THIRUVANANTHAPURAM. BY ADV. SRI.A.B.MOHANAKUMAR RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE, EAST FORT, THIRUVANANTHAPURAM. 2. THE MANAGER, MORNING/EVENING BRANCH, NEYYATTINKARA, DISTRICT CO-OPERATIVE BANK, NEYYATTINKARA, THIRUVANANTHAPURAM. STANDING COUNSEL MR. K.G.RADHAKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/11/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K. ABDUL REHIM, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 31797 of 2009 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 10th day of November, 2009 J U D G M E N T 1. Eventhough various grounds of challenge were raised against the proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), learned counsel for the petitioner is limiting the prayer for permitting payment of the entire amounts due in the loan account, in installments. 2. Having heard contentions of the standing counsel appearing for the respondents, I am of the view that some indulgence can be shown in permitting the petitioner to pay off the entire liability within a reasonable time, in installments. 3. Accordingly the writ petition is disposed of directing the petitioner to make payment of an amount of Rs.1,50,000/- on or before 30.11.2009. The respondents are directed to keep in abeyance further steps of recovery till W.P.(C)No. 31797 of 2009 -2- such date. On payment of the said amount the respondents are directed to issue a balance statement to the petitioner showing the total outstanding after crediting all such payments and after considering waiver of interest/penal interest and expenses to the extent possible. The petitioner shall make payment of the balance so intimated in four (4) equal monthly installments thereafter falling due on or before 31.12.2009 and on or before last day of the succeeding three (3) months. 4. It is made clear that on the event of failure to pay any of the installments as stipulated as above, the respondents are free to proceed with further steps pursuant to the notices already issued, and on such event the petitioner will be precluded from raising any subsequent challenge against such proceedings either before this court or before any other forum. C.K. ABDUL REHIM JUDGE shg/