IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 19TH JANUARY 2010 / 29TH POUSHA 1931 WP(C).No. 1823 of 2010(C) ------------------------- PETITIONER(S): --------------- RANADEV, AGED 46 YEARS, S/O. KORUKUTTY, VENKALATH HOUSE, THIRUVATHARA, CHAVAKKAD, THRISSUR DISTRICT. BY ADV. SRI.RAJIT SRI.RANJIT BABU RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, STATE BAND OF INDIA, REGIONAL BUSINESS OFFICE, BHARTHAKSHEMAM BUILDING, ST.THOMAS COLLEGE ROAD, THRISSUR - 680 005. 2. STATE BANK OF INDIA, GURUVAYUR BRANCH, CHAVAKKAD TALUK, THRISSUR DISTRICT REPRESENTED BY THE BRANCH MANAGER. SRI.N.RAJAGOPALAN NAIR, SC FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 1823 of 2010 --------------------------------------- Dated, this the 19th day of January, 2010 J U D G M E N T The petitioner has approached this Court challenging the steps taken by the respondent Bank invoking the provisions under the SARFAESI Act, whereby the possession of the residential building belonging to the petitioner has been taken over pursuant to Ext.P1 notice. 2. The learned counsel for the petitioner submits that, the action pursued by the respondents is not correct or sustainable for having pursued the same in a hasty manner, without even providing breathing time to the petitioner, who was given to understand that the request made by the petitioner to give some more time to arrange necessary funds to satisfy the entire liability in respect of the loan availed for the extension works of the residential house, would be favourably considered. 3. The learned counsel appearing for the Bank submits that the action pursued by the Bank is very much in conformity with the statutory requirements and that there is no case for the petitioner, that WP(C) No.1823/2010 2 he was never served with any notice or that there was any defect in the proceedings pursued by the Bank. It is also submitted by the learned counsel that there was not even any representation from the part of the petitioner as to the proposal stated as made by him to wipe off the entire liability. 4. The learned counsel appearing for the petitioner submits that, the petitioner did not choose to challenge the proceedings, as he was making earnest efforts to raise necessary funds to clear the entire liability at the earliest opportunity. It is also brought to the notice of this Court that Ext.P1 notice intending to take possession by the Bank is dated '18.01.2010', i.e., yesterday and it was thrust upon the petitioner, as a 'bolt from the blues' and the possession was forcibly taken over on the same day, virtually driving the petitioner and his family consisting young children to the streets. The learned counsel further submits that the petitioner is ready and willing to deposit a sum of Rs.2,00,000/- (Rupees Two lakhs only) within two days, praying for a direction to hand over the premises to the petitioner simultaneously adding that the remaining liability will be cleared by way of 'two' equal monthly instalments. 5. After considering the rival submissions made from either side, and also taking note of the sequence of events, as referred to above, this Court finds it fit and proper to permit the petitioner to reoccupy the WP(C) No.1823/2010 3 building on condition that the petitioner pays a sum of Rs.2,00,000/- within two days and the entire balance amount under the loan transaction is cleared by way of 'two' equal monthly instalments, the fist of which shall be effected on or before the 20th of February, 2010 and the next and the last one to be effected on or before the 20th of the March, 2010. Subject to the above, further recovery proceedings being pursued against the petitioner shall be kept in abeyance. On satisfying the sum of Rs.2,00,000/- within two days as above, the possession of the building shall be handed over by the respondents to the petitioner forthwith. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON JUDGE dnc