IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 29TH JULY 2010 / 7TH SRAVANA 1932 WP(C).No. 21833 of 2010(D) -------------------------------------- PETITIONER: ------------------- SAROJINI .C, W/O.KRISHNAN NAIR, AGED 55 YEARS, KUNDUCHI HOUSE, POST KANATHUR, MOOLIYAR, KASARAGOD DISTRICT. BY ADV. SRI.S.JIJI. RESPONDENTS: ------------------------ 1. KASARAGOD DISTRICT CO-OP. BANK LTD., MULLERIA BRANCH, KASARAGOD, REPRESENTED BY ITS MANAGER, PIN - 671 121. 2. THE AUTHORISED OFFICER/P.A.TO PRESIDENT, KASARAGOD DISTRICT CO-OP. BANK LTD., KASARAGOD – 671 121. R1 & R2 BY SRI.M.SASINDRAN,S.C,KASARGOD DIST.CO.BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/07/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. P. R. RAMACHANDRA MENON, J. =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= W.P.(C) No. 21833 of 2010 =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= Dated this the 29th day of July, 2010 JUDGMENT Petitioner availed an agricultural loan of Rs.1,00,000/- from the first respondent bank in the year 2006, by creating security interest over the property in question. Since repayment could not be effected on time, the first respondent bank declared that account as “NPA” on 14-8- 2007 and proceeded with further steps under the SARFAESI Act, which in turn is under challenge in this writ petition. 2. The learned counsel appearing for the first respondent bank, with reference to the averments in the petition, submits that no such representation as Ext.P3 has been received by the bank. It is also stated that the total outstanding liability as on 30-6-2010 is Rs.1,15,910/- with further interest and expenses. The learned standing counsel also submits that the steps taken by the first respondent bank are in conformity with the relevant provisions of the statute. 3. The learned counsel for the petitioner submits that W.P.(C) No. 21833/2010 2 the default was never wilful, but because of unforeseen circumstances and that the petitioner does not intend to avail the statutory remedy by approaching the Debt Recovery Tribunal. The learned counsel for the petitioner submits that the limited prayer is to permit the petitioner to clear the liability by way of reasonable instalments. 4. After hearing both sides and also taking note of the limited relief prayed for by the petitioner, this Court finds it fit and proper to permit the petitioner to clear the liability in a phased manner. 5. Accordingly, the petitioner is permitted to clear the liability by way of 'six' equal monthly instalments; the first of which shall be effected on or before the 20th August, 2010, to be followed similar instalments to be effected on or before the 20th of the succeeding months. Subject to this, recovery proceedings against the petitioner shall be kept in abeyance for the time being. It is made clear that if any default is committed by the petitioner in clearing the outstanding amount as above, the respondents will be at W.P.(C) No. 21833/2010 3 liberty to proceed with further steps for realization of the entire amount in a lump sum. The writ petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE. mn.