IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 10TH JULY 2009 / 19TH ASHADHA 1931 WP(C).No. 19020 of 2009(V) -------------------------- ( CMP.2433/2009 of C.J.M.,TRIVANDRUM ) PETITIONER: --------------- LEENA VARGHESE,ERIKALAVILA PURAYIDAM, POOVAR P.O.,NEYYATTINKARA TALUK, THIRUVANANTHAPURAM. BY ADV. SRI.D.KISHORE RESPONDENTS: --------------- 1. STATE BANK OF TRAVANCORE, POOVAR BRANCH,POOVAR,THIRUVANANTHAPURAM, REP.BY ITS MANAGER. 2. THE AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES),STATE BANK OF TRAVANCORE, REGION-II,SONAL OFFICE,SANTHINAGAR, THIRUVANANTHAPURAM. ADV. SRI.K.S.DILIP, SC, STATE BANK OF TRAVANCORE. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No.19020 OF 2009 ......................................................................... Dated this the 10 th July, 2009 J U D G M E N T The petitioner had availed a housing loan of Rs. 4 lakhs from the respondent Bank in the year 2005. The amount which was liable to be repaid by way of equal monthly installment was Rs.6300/- and the loan was spreading over a period of ten years ending in the year 2014. The case of the petitioner is that she is only a house wife and that her husband is a 'fisherman' engaged in a Vessel working abroad, securing only a meagre income. The default occurred was not because of any wilful laches or deliberate negligence, but because of some unforeseen circumstances, submits the learned Counsel for the petitioner. Despite all the adverse circumstances, the learned Counsel for the petitioner submits that the petitioner is ready and willing to clear the entire defaulted arrears, so as to have the loan account regularised and that she will not commit any W.P.(C) No.19020 OF 2009 2 default at all. 2. The learned Counsel for the respondent Bank submits, on the basis of the instructions received and also on the basis of the contents of the statement stated as filed, that as on date, a sum of Rs.2 lakhs (approximately) is due towards the defaulted E.M.Is and the petitioner will have to clear the said amount, if at all, the housing loan is to be regularised. 3. Considering the particular facts and circumstances, this Court finds it fit and proper to give one more opportunity to the petitioner to save her property, particularly in view of of the fact that the petitioner belongs to a lower strata of the Society. 4. In the said circumstances, the petitioner is directed to clear the defaulted E.M.Is by remitting a sum of Rs.50,000/- every month. The first installment shall be effected on or before 10.08.2009, to be followed by similar three more installments to be effected on or before the 10th of the succeeding months. This will be in addition to the liability of the petitioner to remit the regular E.M.Is from this month onwards. Subject to the above, the revenue recovery proceedings now stated as being W.P.(C) No.19020 OF 2009 3 pursued against the petitioner and her property will be kept in abeyance. It is made clear that if any default is committed by the petitioner in remitting any of the four installments towards the defaulted E.M.Is as above or if any two consecutive defaults are made in respect of the regular E.M.Is, the respondent bank will be at liberty to proceed with coercive steps from the stage where it stands now for realisation of the amount in a lump sum. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk