IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH SEPTEMBER 2008 / 8TH ASWINA 1930 WP(C).No. 28900 of 2008(M) ------------------------------------------ PETITIONER: --------------------- ABDUL BASHEER, ERAVAKODE HOUSE, PATTENCHERRY.P.O, PALAKKAD. BY ADV. SMT.S.MUMTAZ RESPONDENTS: ------------------------- 1. HOUSING DEVELOPMENT FINANCE CORPORATION, PALAKKAD BRANCH, REP. BY ITS MANAGER, PALAKKAD. 2. HOUSING DEVELOPMENT FINANCE CORPORATION, REP. BY THE AUTHORISED OFFICER, HDFC HOUSE, NO.29, KAMARAJ ROAD (NEAR CIRCUIT HOUSE), COIMBATORE. ADV. SRI.K.K.CHANDRAN PILLAI, SC, HDFC FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.28900 of 2008-M = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 30th day of September, 2008. JUDGMENT The petitioner availed a housing loan and defaulted in repayment. As pointed out by the learned counsel for the respondents, there was no repayment for the last 1½ years. The account became sticky and was later classified as an NPA and action has been taken under the SARFAESI Act. The transaction is admitted. The outstandings cannot be disputed. No point is projected in challenge of the impugned action. There is no jurisdictional error or legal infirmity in the action taken by the respondents. With this situation in hand, the learned counsel for the petitioner states that her client gives up all the contentions and also the right to move the DRT or any other authority challenging the WP(C)28900/08 -: 2 :- impugned proceedings and confines the request to be one for an opportunity to pay off the outstandings in instalments. Recording the said submissions, this writ petition is ordered directing that if the petitioner remits an amount of Rs.1 lakh within one month from now and continues to remit at the rate of Rs.50,000/- per month payable on or before the last working day of every month commencing from November, 2008, the impugned action will be held back and ultimately dropped, if the entire outstandings are satisfied. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled and this writ petition will stand dismissed automatically enabling the respondents to forthwith proceed with distress action without further notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/300908