IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 26TH SEPTEMBER 2008 / 4TH ASWINA 1930 WP(C).No. 22395 of 2008(N) ------------------------------------- PETITIONER: ------------------- SRI.UNNIKRISHNAN, UNNI NIVAS, KOLLAM KONAM, VILAPPILSALA, THIRUVANANTHAPURAM - 695 573. BY ADV. SRI.S.D.ASOKAN RESPONDENT(S): ----------------------- 1. STATE BANK OF INDIA, REPRESENTED BY THE CHIEF MANAGER, MAIN BRANCH, KOLLAM. 2. THE AUTHORISED OFFICER (CHIEF MANAGER) STRESSED ASSETS RESOLUTION CELL, MAIN BRANCH BUILDING, STATE BANK OF INDIA, KOLLAM - 691 001. 3. THE DISTRICT COLLECTOR, COLLECTORATE, KOLLAM. ADV. SRI.K.K.CHANDRAN PILLAI, SC FOR R1 & R2 GOVERNMENT PLEADER SRI.C.K.SANTHOSH KUMAR FOR R3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------------------------ W.P.(C) NO. 22395 OF 2008 (N) ------------------------------------------------------------------------ Dated this the 26th day of September, 2008 J U D G M E N T The petitioner availed a loan from the first respondent in December 2004 for purchase of a house and land. The petitioner is conducting an educational institution. He pleads that while there is default in repayment, the total outstandings due as reflected by Exhibit P2 is only Rs.88,372/-. Though that amount is shown as arrear in Exhibit P2, the total loan outstandings by that time was Rs.7,90,828.15/-. The learned counsel for the bank states that, treating the case of the petitioner as special one, the bank has decided that if the petitioner pays the entire defaulted outstandings with accrued interest thereon and expenses, the bank will permit the petitioner to continue with the transaction as originally scheduled and to repay the remaining outstandings in instalments. The learned counsel for the petitioner states that his client may also give an opportunity to pay off the defaulted outstandings, within a period of six months' time. These are W.P.(C) No.22395/2008 - 2 - matters within the commercial wisdom of the bank and it would be improper, in any manner, to interfere with the contract between the parties and RBI guidelines. Recording the submission of the bank, this writ petition is ordered directing that the bank will take into consideration either the petitioner's request for payment of the defaulted outstandings in six monthly instalments or otherwise, as could be permitted, or let the petitioner avail the facility for regularising the transaction. All this will depend upon, the petitioner satisfying the conditions imposed as per the interim order dated 29-8-2008, within a period of two weeks from now. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/27/9 // True copy // P.A. to Judge.