IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 27918 of 2007(W)
1. SMT. BABY ROSE A., W/O. FAZIL,
... Petitioner
Vs
1. CHIEF MANAGER/AUTHORIZED OFFICER,
... Respondent
2. THE MANAGER,
For Petitioner :SRI.P.V.KUNHIKRISHNAN
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :20/09/2007
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) NO. 27918 OF 2007
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Dated this the 20th day of September, 2007
J U D G M E N T
Petitioner challenges the proceedings initiated under
the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 and seeks an
order to permit her to pay the amount in instalments.
2. I heard the standing counsel for the respondent
Bank also.
3. From Ext.P2, it is evident that as on 31/5/07, the
amount due is Rs.6,24,059/-. Now that the petitioner is not
disputing the quantum or her liability, I am inclined to grant
her an instalment facility to pay it off, so that the residential
premises could be saved.
4. Accordingly, this writ petition is disposed of
directing that out of the amount that is due, petitioner shall
remit an amount of Rs.1,00,000/- (Rupees one lakh only) on
WPC 27918/07
: 2 :
or before 11th of October 2007, in which event, further
proceedings pursuant to Exhibits P2 and P3 shall be kept in
abeyance. The balance amount shall be paid by the
petitioner in 8 equal monthly instalments, each payable on
the first of every succeeding month. If petitioner pays the
instalments in time, the impugned proceedings will not be
enforced against her. On the other hand, if any default is
committed, the Bank will be at liberty to proceed against the
petitioner without any further notice. On remittance of the
initial instalment, a statement of account will be furnished to
her, in order to enable further payment.
Writ petition is disposed of as above.
ANTONY DOMINIC, JUDGE.
Rp