IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 27TH FEBRUARY 2009 / 8TH PHALGUNA 1930 WP(C).No. 5920 of 2009(H) ------------------------------------- CMP.NO.5286/2008 OF C.J.M.,TRIVANDRUM. .................... PETITIONER: ------------------- RAMANI.S., T.C. 41/1365, MSK NAGAR MANACAUD P.O.,THIRUVANANTHAPURAM. BY ADV. MR.BIJU BALAKRISHNAN. RESPONDENTS: ------------------------ 1. THE UNION BANK OF INDIA, KAZHAKUTTOM BRANCH, REPRESENTED BY ITS MANAGER. 2. THE AUTHORIZED OFFICER, UNION BANK OF INDIA, REGIONAL OFFICE, UNION BANK BHAVAN,M.G.ROAD, STATUE, THIRUVANANTHAPURAM. R1 & R2 BY MR. A.S.P. KURUP, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/02/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.5920 of 2009-H = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 27th day of February, 2009. JUDGMENT 1.The petitioner availed a housing loan. On default in repayment, SARFAESI Act was invoked. Orders have been issued by the learned CJM under section 14 of that Act. There is no jurisdictional or legal error in the impugned proceedings. 2.The bank takes a benevolent stand and contends that if the outstandings with accruals and expenditure are paid, the petitioner can continue to enjoy the transaction. On that basis, only an amount of Rs.1.75 lakhs has to be paid as accrued arrears. Taking into consideration the fact that the petitioner had met with an accident, it is directed that if the petitioner remits Rs.1 lakh WP(C)5920/2009 -: 2 :- on or before 28-3-2009 and Rs.75,000/- on or before 28-4-2009 and also remits equated monthly instalments from the month from which it would be due in terms of the aforesaid adjustments and also remits the necessary expenditure and securitisation charges as may be reasonably fixed by the bank, the impugned distress action will be deferred and dropped. In such event, she will be entitled to enjoy the benefit of the transaction and the respondents will be entitled to enforce the recovery proceedings in the event of default of any of the instalments. The writ petition is ordered accordingly. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/020309