IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 17TH OCTOBER 2008 / 25TH ASWINA 1930 WP(C).No. 30645 of 2008(W) -------------------------- PETITIONER(S): --------------- 1. MATHUNNY MATHEW, S/O.MATHAI, CHRISTIAN (SAMBAVA DALIT) AGED 54, RESIDING AT NELLIMALA HOUSE, AYIMANAM P.O., KOTTAYAM. 2. MARIAMMA MATHEW, W/O.MATHUNNY MATHEW NELLIMALA HOUSE, AYIMANAM P.O., KOTTAYAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENT(S): --------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS REGIONAL MANAGER, REGION I, KOTTYAM. 2. THE AUTHORISED OFFICER, REGION I, STATE BANK OF TRAVANCORE, ZONAL OFFICE, KOTTYAM. 3. THE BRANCH MANAGER, SBT, AYIMANAM, KOTTAYAM DISTRICT. BY ADV.SRI.SATHISH NINAN, S.C. SRI.SANTHOSH MATHEW, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.30645 OF 2008 ------------------------------------------- Dated this the 17th day of October, 2008 JUDGMENT This writ petition is filed on the premise that the petitioners had availed three facilities from the first respondent, which included a mortgaged loan, home maintenance loan and an educational loan for the son of the petitioners. It is stated that the first petitioner become sick and his son could not continue with the eduction in Andra Pradesh and returned home and now, attempts to sustain the family by doing some menial jobs locally. Learned counsel for the Bank states, on instructions, that the education loan is not connected with the mortgaged loan while there is yet another mortgaged loan, which is part of the transactions which have been clubbed together for the purpose of recovery under the provisions of the SARFAESI Act. 2. Learned counsel for the petitioners gives up all contentions on behalf of the petitioners and states that his clients give up WPC.30645/08 Page numbers their right to challenge the impugned proceedings before the Debts Recovery Tribunal or other authorities under the Act. He accordingly states that the petitioners will be able to wipe off the outstandings only by sale of a portion of the hypothica and that they may be granted time by a couple of months so that they will find a purchaser for private sale with the intervention of the Bank and wipe off all the outstandings in the four different loans, including the education loan. Taking this submission into consideration and repelling all other contentions, this writ petition is ordered directing that if the petitioners deposit an amount of Rs.1,00,000/- within a period of four weeks, the impugned proceedings will stand deferred by three months, to enable the petitioners to wipe off all the loans, including the education loan. Having regard to the facts and circumstances, it is ordered that this judgment will not stand in the way of the Bank considering any ameliorative measures being extended to the petitioners, if such request is made. However, if there is default WPC.30645/08 Page numbers in remitting the amount of Rs.1,00,000/- as afore-directed or if the petitioners do not find a purchaser and have the transaction effected within the period fixed above, the Bank will be at liberty to immediately proceed further with the impugned proceedings and also for recovery as regards the education loan. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.