IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 8259 of 2008(G)
1. T.V.VASUDEVAN, AGED 42 YEARS
... Petitioner
Vs
1. THE GENERAL MANAGER
... Respondent
2. SOUTH MALABAR GRAMIN BANK
For Petitioner :SRI.RAJIT
For Respondent :SRI.T.R.RAVI
The Hon'ble MR. Justice S.SIRI JAGAN
Dated :11/06/2008
O R D E R
S. Siri Jagan, J.
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W. P (C) No. 8259 of 2008
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Dated this, the 11th June, 2008.
J U D G M E N T
Petitioner is challenging proceedings under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002. The petitioner does not dispute the liability or the
quantum. He only seeks facility to pay the amount in instalments.
2. I have heard the learned standing counsel for respondents
also who opposes the same.
3. After having beard both sides, I think that some leniency can
be shown to the petitioner in the matter of payment of balance
amount in instalments. Accordingly, the writ petition is disposed of
directing the respondents to permit the petitioner to pay off the
balance amount in four equal monthly instalments starting from 1-7-
2008. Every subsequent instalment shall be paid on the first working
day of every succeeding month. If the petitioner pays the instalment
in time, further coercive proceedings pursuant to Ext. P1 shall be
kept in abeyance. However, if the petitioner commits default in
payment of any of the instalments, the respondents can continue
proceedings as now initiated without having to issue any fresh notice
or proceedings .
Sd/- S. Siri Jagan, Judge.
Tds/
[True copy]
P.S to Judge.