IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 10TH MARCH 2010 / 19TH PHALGUNA 1931 WP(C).No. 3438 of 2010(D) ------------------------- PETITIONER(S): --------------- O.SHYAMALA, AGED 69 YEARS, W/O.PADMANABHAN,"ATHENA", C.H.NAGAR, HOUSING COLONY, KOZHIKODE. BY ADV. SRI.V.M.KRISHNAKUMAR SMT.P.A.ANITHA RESPONDENT(S): --------------- 1. UNION BANK OF INDIA, KOZHIKODE, REPRESENTED BY ITS CHAIRMAN. 2. THE AUTHORISED OFFICER, UNION BANK OF INDIA,KOZHIKODE MAIN BRANCH, CHEROOTTY ROAD, KOZHIKODE,PIN 673 032. **3. THE AUTHORISED OFFICER, UNION BANK OF INDIA NELLIKODE BRANCH ** ADDITIONAL 3RD RESPONDENT IMPLEADED AS PER ORDER DATED 03.03.2010 IN I.A. 2892/2010 STANDING COUNSEL SRI.A.S.P.KURUP THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 3438 of 2010 --------------------------------------- Dated, this the 10th day of March, 2010 J U D G M E N T The petitioner is challenging the coercive steps taken by the respondent Bank invoking the machinery under the SARFAESI Act in respect of a loan transaction. 2. The learned counsel for the petitioner, referring to the sequence of events described in the Writ Petition submits that the petitioner was struck hard by fate when her daughter who had availed the loan from the Bank in the year 2005 happened to be caught in a financial trap and finally she bid farewell to this world by committing suicide. It is stated that the petitioner has taken earnest efforts to clear the liability and has approached the Bank expressing her willingness to clear the due amount seeking for some breathing time and also for extending all possible concessions and deductions. 3. The learned counsel appearing for the Bank submits on instructions that as on date, a total sum of Rs.8,18,348/- plus cost is due to be cleared under the loan transaction. It is also stated that if at all the petitioner wants to have some or other concessions, the petitioner has to prove her bonafides clearing a substantial portion of the liability and approach the Bank thereafter by filing necessary application, on which event, WP(C) No.3438/2010 2 it will be considered to the maximum possible extent. 4. Considering the facts and circumstances, the petitioner is permitted to clear the outstanding liability by way of monthly instalments at the rate of one lakh each; the first of which shall be effected on or before the 30th of this month, to be followed by similar instalments to be effected in the succeeding months. The actual amount in respect of the eight instalments will depend upon the final figure to be communicated from the part of the Bank, after considering the application, if at all preferred by the petitioner after satisfying the first instalment, for extending the benefit of concessions/allowance. The said application, if any preferred by the petitioner as above, shall be considered with maximum leniency and appropriate orders shall be passed by the respondent Bank extending such benefits to the permissible extent. Subject to this, the recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance. It is also made clear that, if any default is committed by the petitioner in satisfying the liability as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON JUDGE dnc