IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 1ST JUNE 2011 / 11TH JYAISHTA 1933 WP(C).No. 13490 of 2011(I) --------------------------------- PETITIONER(S): ------------------- 1. H.P.SHABU, S/O. S.P.HEROC, AGED 45 YRS, VAYALIL BHAVAN, KSHB, EMS NAGAR, VANCHIYOOR, THIRUVANANTHAPURAM DISTRICT. 2. MARY REENA, W/O. H.P.SHABU, AGED 36 YEARS, -DO- -DO- BY ADV. SRI.P.M.JOSHI RESPONDENT(S): --------------------- THE CHIEF MANAGER (AUTHORISED OFFICER), STATE BANK OF TRAVANCORE, SHANGHUMUGHAM BRANCH, THIRUVANANTHAPURAM-695 001. BY ADV. SRI. R.S.KALKURA, SC., SBT. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svS C.K.ABDUL REHIM, J. --------------------------------------- W.P.(C) No. 13490 OF 2011 --------------------------------------- Dated this the 1st day of June 2011. J U D G M E N T Consequent to default committed in repayment of a housing loan availed by the petitioners from the respondent bank, proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI Act) was initiated. On the basis of approach made by the respondent before the Chief Judicial Magistrate Court, Thiruvananthapuram an Advocate Commissioner was appointed to to take over possession of the immovable property which is the secured asset. Ext.P3 order passed by the Chief Judicial Magistrate Court in this regard. According to the petitioner, the loan in question was availed for the year 2004 with repayment period extending to 15 years. It is contended that coercive steps were now proceeding without acceding to the request made by the petitioner permitting regularisation of the account on the basis of over payment of amount in default, within a short period. The Standing Counsel respondent for the bank submitted that the petitioner had defaulted payment of consecutive monthly installments and the amount by virtue for payment payment itself will come around Rs. C.K.ABDUL REHIM JUDGE al