IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 12TH FEBRUARY 2009 / 23RD MAGHA 1930 WP(C).No. 4661 of 2009(E) ------------------------- PETITIONER(S): --------------- 1. SANTHOSH KUMAR M.R., AGED 33 YEARS, S/O.MANI, ATHIYANNOOR PANCHAYATH, HOUSE NO.AP 7/622, PONGIL, AMBADY BHAVAN, SATHEESH ROAD, VENPAKAL P.O., NEYYATTINKARA, THIRUVANANTHAPURAM DISTRICT. 2. SARITHA C.S., AGED 24 YEARS, W/O.SANTHOSH KUMAR, ATHIYANNOOR PANCHAYATH, HOUSE NO.AP 7/622, PONGIL, AMBADY BHAVAN, SATHEESH ROAD, VENPAKAL P.O., NEYYATTINKARA, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.THIRUMALA P.K.MANI RESPONDENT(S): --------------- 1. THE MANAGER, STATE BANK OF TRAVANCORE, NELLIMOODU, A.P. 5/555, NELLIMOODU P.O., NEYYATTINKARA. 2. THE AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION II, ZONAL OFFICE, SANTHI NAGAR, THIRUVANANTHAPURAM. ADV. SRI.K.K.CHANDRAN PILLAI, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.4661 OF 2009 ------------------------------------------- Dated this the 12th day of February, 2009 JUDGMENT The petitioners availed a housing loan on 6.5.2005 with a repayment period of 20 years. The EMI was Rs.4,342/-. Repayment was not properly made. This led to the transaction turning out to be sticky and it was accordingly classified as NPA. Proceedings were initiated under the SARFAESI Act. Section 13 (2) notice was issued in July 2008. Petitioners state that they live in the building constructed utilising the loan and that they take care of their child and aged parents. These are normal situations in any home. The petitioners also state that they had to avail amounts on private loans to complete the building and the second petitioner was unemployed while the first petitioner works as a Make-up man. Whatever be the present situation of the petitioners as stated above, all that they can aspire is to request the bank to regularise the transaction which has already been classified as NPA and seek for instalment facility to pay off the defaulted amounts. WPC.4661/09 Page numbers The bank states that the total defaulted amounts plus accruals thereon would be around Rs.2,50,000/-. It is accordingly directed that distress action will stand suspended if the petitioners pay an amount of Rs.1,00,000/- on or before 5.3.2009 and the remaining Rs.1,50,000/- by the end of the current financial year itself. If such amounts are remitted, distress action will be dropped and the bank will permit the petitioners to continue to enjoy the facility. No other questions raised. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.13/2.