IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S. SIRI JAGAN THURSDAY, THE 15TH DECEMBER 2011 / 24TH AGRAHAYANA 1933 WP(C).No. 33591 of 2011(Y) ------------------------------------ PETITIONER(S) : ------------------------- 1. KHADEEJA, W/O.HANEEFA, ARAKKAL HOUSE, THIRUVATHRA COLONY, ATHANI, THIRUVATHRA DESAM, MANATHALA VILLAGE,CHAVAKKAD TALUK, THRISSUR DISTRICT, PIN-680 022. 2. HANEEFA, AGED 39, S/O.MOHAMED, ARAKKAL HOUSE, THIRUVATHRA COLONY, ATHANI, THIRUVATHRA DESAM, MANATHALA VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT. BY ADVS. SMT. M.R.REENA SRI. P.S. SUJETH RESPONDENT(S) : ------------------------- 1. THE BRANCH MANAGER, THRISSUR DISTRICT CO-OPERATIVE BANK, CHAVAKKAD EVENING BRANCH, THIRUVATHRA P.O., MANATHALA VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT-680 516. 2. THE AUTHORIZED OFFICER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD., SAHAKARANA SATAPDI MANDIRAM, KOVILAKATHUM PADAM, THIRUVAMBADI P.O., THRISSUR DISTRICT-688 002. R1 & R2 BY ADV. P.C. SASIDHARAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: NS WP(C) NO. 33591 of 2011 (Y) APPENDIX PETITIONER'S EXHIBITS:- EXT. P1 : COPY OF THE SALE DEED NO. 1884 OF 2008 EXT. P2 : COPY OF THE RECEIPTS SHOWING THE REPAYMENT EXT.P3 : COPY OF THE MEDICAL REPORTS SHOWING THE TREATMENT. EXT. P4 : COPY OF THE REPRESENTATION. EXT. P5 : COPY OF THE POSSESSION NOTICE. RESPONDENT(S) EXHIBITS : NIL / TRUE COPY / P.A. TO JUDGE NS S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.33591 of 2011 ---------------------------------------------- Dated this the 15th day of December, 2011 JUDGMENT The petitioners challenge proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of loan amounts defaulted by the petitioners. The petitioners only seek facility to regularise the loan account by paying the defaulted amounts and to pay the future instalments as per the original loan agreement. 2. The learned Standing Counsel for the bank opposes the same. 3. Having heard both sides, I am of opinion that the respondent can show some more leniency to the petitioners in the matter of regularising the loan account. Accordingly, I dispose of this writ petition with the following directions: If the petitioners pay the amounts stipulated by the bank for regularising the loan account within one month, the respondents shall permit the petitioners to regularise the loan account and to pay off the future instalments as per the original loan agreement. If the petitioners comply with the above directions and continue to pay the W.P.(C)No.33591/11 2 future instalments as per the original loan agreement on the due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioners commit default in payment of either the defaulted amounts or any of the future instalments as per the loan agreement, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. S. SIRI JAGAN, JUDGE acd W.P.(C)No.33591/11 3