IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 28TH AUGUST 2008 / 6TH BHADRA 1930 WP(C).No. 24494 of 2008(N) -------------------------- PETITIONER: ------------------ K.R.SAJAITHA, W/O.CHANDRAN.R., 43 YEARS, VENKATESWARA,TC.24/593, LINE ROAD, THYCAUD, THIRUVANANTHAPURAM-14. BY ADV. SRI.BABU JOSEPH KURUVATHAZHA SRI.K.I.SAGEER RESPONDENTS: ---------------------- 1. JOINT REGISTRAR OF CO.OP.SOCIETIES THIRUVANANTHAPURAM. 2. REGIONAL MANAGER, KERALA STATE CO.OP. BANK LTD., STATE CO.OP.BANK BUILDING, OVER BRIDGE JN., THIRUVANANTHAPURAM-1. 3. KERALA STATE CO.OP.BANK LTD., KARAMANA BRANCH, THIRUVANANTHAPURAM, REP. BY ITS BRANCH MANAGER. 4. AUTHORIZED OFFICER (UNDER THE SECURITIZ- ATION, AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT,2002), O/O.THE REGIONAL MANAGER, KERALA CO.OP.BANK LTD., STATE CO.OP.BANK BUILDING, OVER BRIDGE JN TRIVANDRUM-1. BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R2 TO 4. R1 BY SR.G.P.SMT.ANU SIVARAMAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.24494 of 2008(N) ================================== Dated this the 28th day of August 2008. JUDGMENT Heard counsel for the parties. Petitioner availed a loan of Rs.10,00,000/- from the third respondent with a repayment period of ten years stated to be on monthly instalments of Rs.15,000/-. On the basis of the submissions, it is shown that only five instalments were paid and the total outstandings defaulted will be an amount around Rs.4,50,000/-. Therefore, while the respondents cannot be criticized for having initiated action under the SARFAESI Act or for having issued a possession notice, it appears to be a case where the petitioner is to be provided some leniency by the respondents, having regard to the plea that she was sick and was bed-ridden for sometime. In the aforesaid circumstances, after having heard the learned counsel for the parties, this WPC24494/08 -:2:- writ petition is ordered directing that, if the petitioner deposits Rs.2,25,000/- within a period of two weeks from now and a further amount of Rs.2,25,000/- within a further period of two weeks and also continues to deposit all instalments accruing from this month promptly, the bank will consider regularizing the transaction on such terms as are legally permissible. On payment of the aforesaid two instalments amounting to a total of Rs.4,50,000/-, possession of the property will be returned to the petitioner. Thottathil B.Radhakrishnan, Judge. skr.