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SURESH KUMAR, AGED 38 v. VIJAYA BANK, SASTHAMNGALAM BRANCH - WP(C) No. 26279 of 2007(C)  RD-KL 16669 (4 September 2007)
IN THE HIGH COURT OF KERALA AT ERNAKULAMWP(C) No. 26279 of 2007(C)
1. SURESH KUMAR, AGED 38,
1. VIJAYA BANK, SASTHAMNGALAM BRANCH
2. REMESH KUMAR,
For Petitioner :SRI.R.T.PRADEEP
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
O R D E R
ANTONY DOMINIC, J.
W.P.(C) NO. 26279 OF 2007
Dated this the 4th day of September, 2007
J U D G M E N T
The challenge in this writ petition is against the proceedings initiated under the Securitisation and Reconstruction Financial Assets and Enforcement of Security Interest Act 2002. Since the petitioner has expressed his willingness to discharge the liability in instalments, I think an opportunity should be given to the petitioner to save his properties.
2. Accordingly I dispose of this writ petition directing that out of the amount towards the debt due, Rs.3,00,000/- (Rupees three lakhs) shall be paid within two weeks from today, and on such payment, the Bank will inform the petitioner the balance amount that is due from him. The balance amount so informed will be paid by the petitioner in three equal monthly instalments. WPC 26279/07
3. The first instalment shall be paid on or before 18/9/07. The 2nd, 3rd and 4th instalments shall be payable on the 18th of every succeeding month.
4. If the amount is paid as directed above, further proceedings shall not be continued and on receipt of total amount due, the properties will be released to its owner. If default is committed in any one instalment, the Bank will be entitled to proceed against the properties. Writ petition is disposed of as above.
ANTONY DOMINIC, JUDGE.Rp
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