IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 7TH APRIL 2010 / 17TH CHAITHRA 1932 WP(C).No. 26251 of 2007(A) -------------------------- PETITIONER(S): --------------- 1. A. MOHAMMED ISMAIL, ANANDAVILASAM BUNGLOW, ANAKUZHI, PULLAMPARA P.O., (VIA) VENJARAMOODU, THIRUVANANTHAPURAM-695 607. 2. A. ABDUL RASHEED, DALIA, ANAKUZHI, PULLAMPARA P.O., (VIA) VENJARAMOODU, THIRUVANANTHAPURAM-695 607. BY ADV. SRI.B.RAGUNATHAN SRI.V.V.MATHEW SRI.M.SALIM RESPONDENT(S): --------------- 1. STATE BANK OF INDIA, REPRESENTED BY ZONAL MANAGER, STATE BANK OF INDIA, STATUE, THIRUVANANTHAPURAM-695 001. 2. BRANCH MANAGER, STATE BANK OF INDIA, PULLAMPARA P.O. (VIA) VENJARAMOODU, THIRUVANANTHAPURAM-695 607. BY ADV. SRI.K.JAYAKUMAR SRI.P.B.KRISHNAN SMT.GEETHA P.MENON THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 07/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX IN WPC.26251/07 PETITIONER'S EXHIBITS: EXT.P1: TRUE COPY OF THE LETTER DATED 17.2.2006 OF THE SBI. EXT.P2: TRUE COPY OF THE REPRESENTATION DATED 25.2.2006. EXT.P3: TRUE COPY OF THE COMMUNICATION DATED 13.3.2006 OF the SBI. EXT.P4: TRUE COPY OF THE JUDGMENT DATED 6.11.2006 IN W.P(C). 9686/06. EXT.P5: TRUE COPY OF THE REPRESENTATION DATED 18.12.2006 ADDRESSED TO THE RESPONDENTS. EXT.P6: TRUE COPY OF THE LETTER DATED 12.12.2006 ISSUED BY THE 2ND RESPONDENT. EXT.P7: TRUE COPY OF THE LETTER DATED 27.12.2006 OF THE 2ND RESPONDENT. EXT.P8: TRUE COPY OF THE LETTER DATED 23.6.2007. /TRUE COPY/ THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.26251 OF 2007 ------------------------------------------- Dated this the 7th day of April, 2010 JUDGMENT 1.The petitioners availed a loan from the respondents. The creditor bank obtained a decree against the petitioners in O.S.13/04 of the Sub Court, Nedumangad. That decree has become final. It provides for recovery of Rs.9,85,962/- with future interest at 16.25%. Later, proceedings were taken by the creditor under the SARFAESI Act. The petitioners moved this Court by filing W.P(C).9686/06. That writ petition was disposed of on 6.11.2006 directing the bank to consider a representation that is pending and also to take up any supplementary representation that would be filed. 2.The bank has stated in paragraph 8 of its counter affidavit that no further representation was made. Thereafter, the bank is stated to have obtained orders from the competent Magistrate WPC.26251/07. 2 under the SARFAESI Act to dispossess the petitioners with police force. While the plea of the petitioners is that they are willing to settle the transaction by making further payments, it appears that the parties have not been able to arrive at any reasonable settlement and the bank had been repeatedly rejecting the offers of the petitioners obviously because the bank did not find it commercially viable to accept the offers made by the petitioners. The bank has stated in its counter affidavit, quite rightly, that slashing of interest would not apply to transactions which have crystallised into decrees of courts. With the aforesaid, I do not find any ground to give any relief to the petitioners except leave them with liberty to seek any indulgence if the bank may grant in the total outstandings, particularly with regard to their request to slash any portion of the interest component. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.12/04.