IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE CHIEF JUSTICE MR.S.R.BANNURMATH & THE HONOURABLE MR. JUSTICE A.K.BASHEER MONDAY, THE 9TH NOVEMBER 2009 / 18TH KARTHIKA 1931 WA.No. 2486 of 2009 --------------------------------- AGAINST THE JUDGEMENT IN WPC.24171/2009 Dated 28/08/2009 .................... APPELLANT/PETITIONER: ------------------------------------- MOHAMMED SABU K.V.M., S/O.MOHAMMED KHALEEL HAJI, MANNISSERI HOUSE, HAJIYARPALLY P.O., DOWN HILL, MALAPPURAM DT. BY ADV. SRI.DEVIDAS.U.K RESPONDENTS/RESPONDENTS: --------------------------------------------- 1. THE CHIEF MANAGER (AUTHORIZED OFFICER) ZONAL OFFICE, DHANALAKSHMI BANK BUILDING, PUNKUNNAM, THRISSUR - 680 002. 2. DHANALAKSHMI BANK LTD, MALAPPURAM BRANCH, REPRESENTED BY ITS MANAGER, MALAPPURAM, MALAPPURAM DT. BY STANDING COUNSEL SRI.C.K.KARUNAKARAN THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 09/11/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.R.Bannurmath, C.J. & A.K. Basheer, J. ------------------------------------------ W.A. No.2486 of 2009 ------------------------------------------ Dated this the 9th day of November, 2009 JUDGMENT A.K. Basheer, J. This writ appeal is directed against the judgment dated August 28, 2009 in W.P.(C) No.24171 of 2009 which was disposed of by the learned Single Judge with a direction to the appellant to pay off the defaulted Equated Monthly Instalments (EMI) in three equal monthly instalments along with the regular instalments. It was further directed that on payment of the outstanding arrears the Bank shall consider the regularisation of the loan account. 2. When this writ appeal is taken up for consideration today, it is submitted by the learned counsel that the appellant has already remitted a sum of Rupees thirty lakhs. 3. Learned Standing Counsel for the Bank submits that though the said amount has been remitted, still there is a balance of about Rupees five lakhs; on payment of which only the question of regularisation of the loan account can be considered. W.A.No.2486 of 2009 - 2 - 4. The grievance of the appellant is that the Bank is still insisting for penal interest and other charges under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 5. It will be open to the appellant to approach the Bank in this regard after remitting the outstanding balance, in which event, the Bank shall take a compassionate and lenient view, particularly since the appellant has paid substantial portion of the amount and further undertakes to pay off the remaining balance of about Rupees five lakhs within four weeks from today. The Bank shall regularise the account in the event of such payment, giving concession in the matter of penal interest, charges, etc. to the extent possible. Writ appeal is disposed of in the above terms. S.R.Bannurmath, Chief Justice A.K. Basheer, Judge vns