IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 5TH MARCH 2009 / 14TH PHALGUNA 1930 WP(C).No. 7062 of 2009(C) --------------------------------------- PETITIONER(S): ------------------------ 1. RAJU MANKKARA NARAYANAN, KOTTUVELIL HOUSE, CHOZHIYAKAD KARA, CHANNANIKAD P.O., KOTTAYAM DISTRICT. 2. RADHAMANI K, W/O. RAJU MANKKARA NARAYANAN, KOTTUVELIL HOUSE, CHOZHIYAKAD KARA, CHANNANIKAD P.O., KOTTAYAM DISTRICT. BY ADV. MR.T.S.RAJASENAN RESPONDENT(S): --------------------------- 1. THE GENERAL MANAGER, STATE BANK OF TRAVANCORE, HEAD OFFICE, POOJAPPURA, THIRUVANANTHAPURAM. 2. CHIEF MANAGER, STATE BANK OF TRAVANCORE, REGIONAL I, ZONAL OFFICE, KOTTAYAM. 3. MANAGER, STATE BANK OF TRAVANCORE, CHINGAVANAM, BRANCH, KOTTAYAM. R1 TO R3 BY ADV. MR. SAJI VARGHESE, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.7062 of 2009-C = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 5th day of March, 2009. JUDGMENT The first petitioner stated to be a person brought up in an orphanage, has reared a family with the second petitioner. They have two children. The first petitioner thereafter got employed abroad. While so, the petitioners availed a housing loan and home decor loan. Later, the first petitioner lost his job and is shortly to return to the Gulf having obtained a fresh employment. In the meanwhile, there was failure to repay the loan at the EMI rates which was around Rs.2,600/-. The loan period was for 15 years. The default has led to action under the SARFAESI Act and an order for dispossession has been passed under Section 14 by the learned CJM WP(C)7062/2009 -: 2 :- following steps under Sections 13(2) and 13(4). There is no jurisdictional or legal error in the impugned proceedings. However, taking into account the totality of the facts and circumstances and the submission that the total defaulted instalments of EMI with accruals thereon and expenditure for publication etc. would accrue to be around Rs.1,25,000/-, this writ petition is ordered directing that if an amount of Rs.75,000/- is paid on or before 31.3.2009 and the remaining Rs.50,000/- on or before 15.5.2009 and if the petitioners continue to pay the instalments regularly, the impugned distress action will stand deferred and dropped ultimately. On production of a copy of this judgment, the proceedings before the learned CJM will also be regulated in terms thereof. If there is default in paying any of the instalments as aforesaid, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the bank to WP(C)7062/2009 -: 3 :- forthwith proceed with further distress action without fresh notice to the petitioners. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/120309