IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 29TH JUNE 2010 / 8TH ASHADHA 1932 WP(C).No. 19470 of 2010(G) -------------------------- PETITIONER(S): --------------- GODBIN M.G. , S/O.SRI.GOPALAKRISHNAN MANAPPALLY HOUSE, KARIKKAD PO, THANNEERMUKKAM ALAPPUZHA DISTRICT. BY ADV. SRI.S.SANAL KUMAR SMT.BHAVANA VELAYUDHAN RESPONDENT(S): --------------- THE MANAGER CANARA BANK, MAYITHARA BRANCH,ALAPPUZHA DISTRICT. BY ADV. SRI.PAULY MATHEW MURICKAN (SC FOR RESPONDENT) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/06/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ------------------------------- W.P.(C) No.19470 OF 2010 ------------------------------- Dated this the 29th day of June, 2010 J U D G M E N T The petitioner availed a loan of Rs.2,06,000/- from the respondent Bank, creating security over 20.30 Ares of land and residential building situated thereon. It is the case of the petitioner, that the loan was availed for the purpose of starting a Diary Farm, but because of adverse circumstances, the petitioner was not in a position to satisfy the liability on time, making him defaulter, under which circumstance, the account was declared as 'NPA' and the Bank proceeded with further steps under the SARFAESI Act for realisation of the due amount, which in turn is under challenge in this Writ Petition. 2. The case of the petitioner is that, inspite of issuance of Ext.P2 notice, with regard to the claim of the petitioner to extend the benefit under the Debt Relief Scheme, 2008, the respondent Bank has conveyed that 40% will be wiped off and the remaining 60% of the liability has to be remitted on or before 30.6.2010. In spite of this, the Bank has W.P.(C) No.19470/2010 2 issued Ext.P3 Possession Notice, dated 15.6.2010, seeking to realise a sum of Rs.2,73,756/- with interest and cost forthwith, which is under challenge. 3. The learned Standing Counsel appearing for the respondent Bank, on instructions, submits that, as per the scheme, 25% waiver is provided by the Central Government while 15% waiver is provided by the Bank itself, thus constituting a total of 40% waiver, as separately given in Ext.P2 itself. Since the last date stipulated by the Central Government in this regard is 30.6.2010, the Bank is not in a position to extend the said date further, simultaneously adding that, if the date is extended, the Bank does not have any objection to allow the said extension to the petitioner as well. 4. The learned counsel for the petitioner submits that the plight of the petitioner as on the date is really pathetic, particularly he having met with quite adverse circumstances, in so far as his father was hospitalised in connection with the heart W.P.(C) No.19470/2010 3 surgery, making him to incur heavy financial burden. This being the position, the petitioner is not in a position to satisfy the demand of remitting 60% of the amount forthwith, and hence seeks for the benefit of installments. 5. In the above circumstances, the petitioner is permitted to clear the entire outstanding liability in a phased manner. Accordingly, the petitioner is directed to clear the due amount by way of 'six' equal monthly installments, the first of which shall be effected within one month, i.e., on or before 30.7.2010, to be followed by similar instalments to be effected on or before the 30th of succeeding months. It is made clear that the benefit of the Debt Relief Scheme, or if the same is further extended under any circumstance, or such other relief payable at the hands of the respondent Bank, shall be given to the petitioner as well, and the judgment passed by this Court will not stand in the way of the parties for extending such relief. It is also made clear that the petitioner is at liberty to approach the Bank for availing some or other concessions/allowances, if any, W.P.(C) No.19470/2010 4 on which event, the same shall be considered and disposed of at the sole discretion of the Bank. If any concession is provided by the Bank, as stated above, the same shall be given 'set off' at the time of last instalment. Further, if any default is committed by the petitioner in effecting the instalments as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the amount in a lump sum. The Writ Petition is disposed of as above. P.R.RAMACHANDRA MENON, JUDGE. nj.