IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 18TH MARCH 2011 / 27TH PHALGUNA 1932 WP(C).No. 4087 of 2011(I) ------------------------- PETITIONER(S): ---------------------- 1. M.SHINI, AGED 37 YEARS, W/O.RAJU, AGRAHARAM, CHIRAKADAVAM, KAYAMKULAM P.O. 2. VALSALA P., AGED 58 YEARS, W/O.LATE MANIYAN, MANIMANDIRAM, ELIPPAKKULANGARA P.O., KATTANAM. 3. RAJU.C., AGED 49 YEARS, S/O.CHELLAPPAN, AGRAHARAM, CHIRAKADAVAM, KAYAMKULAM P.O. BY ADV. SRI.SHINU J.PILLAI SMT.S.SUJA SRIPHILIP T PAUL RESPONDENT(S): ------------------------ NORTH MALABAR GRAMIN BANK HAVING ITS HEAD OFFICE AT NGMB TOWERS, PALLKKUNNU, KANNUR - 4 REPRESENTED BY ITS AUTHORISED OFFICER (GENERAL MANAGER) 670 009. ADV. SRI.DEVAN RAMACHANDRAN SRI.K.M.ANEESH SRI.K.SANTHOSH KUMAR (KALIYANAM) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ================ W.P.(C) NO. 4087 OF 2011 ===================== Dated this the 18th day of March, 2011 J U D G M E N T Petitioners availed of a loan from the Kattanam Branch of the respondent Bank. Admittedly default was committed in the payment of monthly instalments. That led to the issuance of Ext.P1 notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Even thereafter, payment was not made. Accordingly Bank obtained Ext.P2 order under Section 14 of the Act and it is at that stage the writ petition has been filed. 2. This court by order dated 9/2/2011 granted stay of dispossession on condition that the petitioners remit an amount of `1,00,000/-. It is conceded by both sides that this order has been complied with. 3. When the matter came up today for orders, request made by the counsel for the petitioners was to direct the Bank to regularise their account. However, on behalf of the Bank, it is pointed out that, if the petitioners make further payment of the defaulted amount of `1.77 lakhs, Bank will consider the request of WPC No. 4087/11 :2 : the petitioners for regularising their account. The Bank also wanted this payment to be made before 31/3/2011, to which the counsel for the petitioners expressed difficulties. 4. Taking note of the submissions made by both sides, I dispose of this writ petition with the following directions:- (1) That the defaulted amount of `1.77 lakhs shall be paid by the petitioners in two equal instalments. The first of which shall be paid on or before 31/3/2011 and the second instalment will be paid on or before 30/4/2011. (2) It is directed that if the defaulted amount is paid as above, Bank will regularise the account of the petitioners and permit the petitioners to pay the balance amount due in the instalments as originally agreed between the parties. (3) Petitioners to produce a copy of this judgment before the respondent Bank for compliance. ANTONY DOMINIC, JUDGE Rp