IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 15TH MARCH 2010 / 24TH PHALGUNA 1931 WP(C).No. 8069 of 2010(G) --------------------------------------- PETITIONER(S): ------------------------- ABDUL BASHEER, S/O.ALAVI, PALLITHODI HOUSE, ODAYIKKAL, PULLIPPADAM P.O., MALAPPURAM DISTRICT. BY ADV. MR.T.K.AJITH KUMAR RESPONDENT(S): -------------------------- NILAMBUR CO-OPERATIVE URBAN BANK LTD., EVENING BRANCH,NILAMBUR (PO), MALAPPURAM DISTRICT REPRESENTED BY ITS SECRETARY. BY ADV. MR. DEVAPRASANTH P.J., SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 8069 of 2010-G ---------------------------- Dated this the 15th day of March, 2010. J U D G M E N T The petitioner had availed a housing loan from the respondent Bank agreeing to repay the amount in instalments. However, the due amount could not be satisfied on time, under which circumstance, notice was issued by the Bank seeking to satisfy the outstanding liability, which made the petitioner to approach this Court challenging the said proceedings. 2. The learned counsel for the Bank submits on instructions that the proceedings under the SARFAESI Act are still to be initiated and the intimation now served was only to alert the petitioner to clear the outstanding liability on time. It is also brought to the notice of this Court that, as on 11.3.2010, the 'overdue' amount will come about Rs.1,24,204/-. 3. The learned counsel for the petitioner submits that the petitioner met with an accident and is bed ridden. It is also stated that earnest efforts are being taken to clear the 'overdue' amount. The only prayer now put forth by the petitioner is to provide some W.P(C) No. 8069 of 2010-G 2 breathing time in this regard. 4. After considering the submissions made by the learned counsel appearing on either side, this Court permits the petitioner to clear the entire overdue amount in a phased manner. Accordingly, the petitioner is directed to deposit an amount of Rs.50,000/- on or before the 30th of this month and the balance overdue amount shall be cleared in 'two' equal monthly instalments; the first of which shall be effected on or before the 30th of April 2010 and the next one on or before the 30th of May, 2010. This will be over and above the liability of the petitioner to satisfy the regular EMIs. It is made clear that in case of any failure to pay the 'overdue' amount as above or if any two consecutive defaults are made in remitting the regular EMIs, the Bank will be free to proceed with further steps for realisation of the entire amount in a lump sum. The Writ Petition is disposed of as above. S d/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab