IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 19TH AUGUST 2010 / 28TH SRAVANA 1932 WP(C).No. 21813 of 2010(B) -------------------------- CMP.3122/2010 of C.J.M.,THRISSUR .................... PETITIONER(S): ------------------------ JAYASREE BALACHANDRAN, AGED 49 YEARS, W/O.BALACHANDRAN, ELAMITTATHU HOUSE, PULLU P.O., THRISSUR-680 641. BY ADVS. SRI.P.G.SURESH, SRI.C.V.MANUVILSAN, SMT.K.VIDYA, SRI.M.R.VIBIN. RESPONDENT(S): ---------------------------- 1. THE DISTRICT COLLECTOR, DISTRICT COLLECTORATE, THRISSUR - 680 601. 2. M/S.HDFC BANK, REPRESENTED BY COLLECTION MANAGER/AUTHORISED OFFICER, RAC, IST FLOOR, KALLIATH ROYAL SQUARE, PALACE ROAD, THRISSUR - 680 021. 3. THE SUPERINTENDENT OF POLICE, THRISSUR - 680 641. 4. ADV.FATHIMA RUBI, PB, ADVOCATE COMMISSIONER IN CMP 3122/2010, CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR - 680 021. R1 & R3 BY GOVERNMENT PLEADER SRI. BIJOY CHANDRAN R2 BY ADV. SRI.T.RAJESH, SC, HDFC BANK LTD. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/08/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 21813 of 2010-B ---------------------------- Dated this the 19th day of August, 2010. J U D G M E N T The petitioner had availed a housing loan of Rs.3 lakhs from the respondent Bank, creating security interest over the property in question. But the repayment could not be effected on time, as scheduled. In the said circumstances, the Bank proceeded with further steps under the SARFAESI Act, which is under challenge in this Writ Petition. 2. When the matter came up for consideration before this Court on 21.7.2010, coercive steps were intercepted on condition that the petitioner satisfied a sum of Rs.50,000/-, which is stated as complied with. 3. The learned counsel for the petitioner submits that, the default was never wilful and that the petitioner might be given one more opportunity to have the loan account regularized, simultaneously adding that further EMIs will be satisfied without fail. 4. The learned counsel for the Bank submits on instructions W.P(C) No. 21813 of 2010-B 2 that, the balance 'overdue' amount, after giving credit to Rs.50,000/- satisfied by the petitioner pursuant to the interim order passed by this Court, is Rs.31,294/-, which is inclusive of the EMI for the month of August, 2010. 5. In the above circumstances, the petitioner is directed to clear the 'overdue' amount including the EMI of this month, as mentioned above within one month, on which event, the loan account will stand regularized. This, however will be in addition to the liability of the petitioner to clear the regular EMIs as well. Subject to this, the recovery proceedings shall be kept in abeyance for the time being. If any default is made by the petitioner in clearing the overdue amount as above, or if any two consecutive defaults are made with regard to the regular EMIs, the respondents are free to proceed with further steps. The Writ Petition is disposed of. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab