IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 18TH MARCH 2011 / 27TH PHALGUNA 1932 WP(C).No. 2142 of 2011(P) ------------------------- PETITIONER(S): ---------------------- 1. ABDULLA,S/O.MUHAMMED, SOOPIGURI MUTLA,PAVOOR P.O.,KASARAGOD, 2. AISAMMA, W/O.ABDULLA RESIDING AT -DO-DO- BY ADV. SRI.K.PRAVEEN KUMAR RESPONDENT(S): ------------------------ 1. NORTH MALABAR GRAMIN BANK REP.BY ITS MANAGER, HOASANGADI BRANCH, KASARAGOD-671121 2. THE AUTHORISED OFFICER/GENERAL MANAGER, NORTH MALABAR GRAMIN BANK PALLIKKUNNU,KANNUR-670001 ADV. R2I.DEVAN RAMACHANDRAN FOR R2 SRI.K.M.ANEESH FOR R2 SRI.K.SANTHOSH KUMAR (KALIYANAM) FOR R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ================ W.P.(C) NO. 2142 OF 2011 ===================== Dated this the 18th day of March, 2011 J U D G M E N T Petitioners availed of a housing loan from the 1st respondent Bank. Default was committed and when revenue recovery proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 were initiated, this writ petition was filed. 2. On behalf of the Bank, it is submitted that it was only on account of the default that they had initiated proceedings. 3. Be that as it may, it is seen that in compliance with the order dated 21/1/2011, petitioners have already remitted an amount of `75,000/-. According to the standing counsel for the Bank, in order to clear the defaulted arrears itself, petitioners will have to pay a further sum of `63,000/-. It is also submitted that if the said amount is paid, the Bank is willing to consider the loan for regularization. This submission of the Bank seems to be fair. 4. Therefore ,I dispose of this writ petition with the following directions:- (1) That the balance defaulted amount of `63,000/- shall be WPC No. 2142/11 :2 : paid by the petitioners in two equal instalments, the first of which shall be paid on or before 30/3/2011 and the second instalment will be paid on or before 30/4/2011. (2) It is directed that if the defaulted amount is paid as above, Bank will regularise the loan account of the petitioners and permit the petitioners to pay the balance amount due in instalments as originally agreed between the parties. (3) Petitioners shall produce a copy of this judgment before the respondent Bank for compliance. ANTONY DOMINIC, JUDGE Rp