IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 25TH MARCH 2009 / 4TH CHAITHRA 1931 WP(C).No. 7723 of 2009(I) ------------------------- PETITIONER(S): --------------- SRI.SARVOTHAMAN, S/O.KUNJAN, DEEPTHI HOUSE, MANDARATHUR POST, PUDUPANAM VIA, KOZHIKODE DISTRICT. BY ADV. SRI.P.NARAYANAN RESPONDENT(S): --------------- 1. STATE BANK OF INDIA, REP.BY IT'S BRANCH MANAGER, CHERANDATHUR BRANCH, PONNANI(VIA), KOZHIKODE DISTRICT. 2. THE AUTHORIZED OFFICER, STATE BANK OF INDIA, REGIONAL OFFICER, KOZHIKODE. 3. THE REGIONAL MANAGER, STATE BANK OF INDIA, REGIONAL OFFICER, KOZHIKODE. BY ADV.SRI.K.K.CHANDRAN PILLAI, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.7723 OF 2009 ------------------------------------------- Dated this the 25th day of March, 2009 JUDGMENT The petitioner availed a housing loan. According to the learned counsel for the bank, he has also availed a personal loan of Rupees One Lakh from the Koilandy branch of the State Bank of India. The petitioner challenges the SARFAESI Act proceedings on the plea that the action may deprive him of his residence since the security property is the residential building. He says that he is a voluntary retired school teacher and that he may be granted some time to pay off the outstandings. The bank states that until a notice was issued under Section 13(2) of the SARFAESI Act, he did not make any substantial payments towards the equated monthly instalments under the housing loan. Yet the bank would agree to give the petitioner a breathing time to pay off the outstandings. Taking into consideration the total outstandings that may be due under the housing loan and also under the personal loan from the Koilandy branch, it is ordered that if the petitioner remits WPC.7723/09 Page numbers amounts at the rate of Rs.50,000/- per month, payable on or before the last working day of every month commencing from March, 2009, further distress action will stand deferred. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and distress action will follow. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.25/3.