IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 9TH APRIL 2010 / 19TH CHAITHRA 1932 WP(C).No. 12661 of 2010(G) -------------------------- PETITIONER: --------------- NICKSON JACOB, S/O. JACOB, CHAKKALAKKAL HOUSE, K.K. PARAMBU, NURANI, PALAKKAD. BY ADV. SRI.VINOD KUMAR.C RESPONDENTS: --------------- 1. THE MANAGER, STATE BANK OF INDIA, PALAKKAD. 2. AUTHORISED OFFICER, RASMECCC, SBI BUILDING, ENGLISH CHURCH ROAD, PALAKKAD. SRI. K.K.CHANDRAN PILLAI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. --------------------------- W.P(C). No. 12661 OF 2010 -------------------------- Dated this the 9th day of April, 2010 J U D G M E N T The petitioner had availed a 'housing loan' of Rs.4.9 lakhs from the respondent Bank on 13.7.2005, which was not repaid on time, by effecting necessary EMIs, when the account was declared as 'NPA', followed by coercive steps. This was challenged by the petitioner in W.P.(C) No.36107/2009 which led to Ext.P1 judgment, whereby the Bank was directed to consider whether the regularisation of the loan account was possible. Pursuant to Ext.P1, the matter was considered by the Bank and Ext.P2 was issued on 1.2.2010 intimating the petitioner that, on his clearing the entire 'overdue' amount of Rs.1.01 lakhs as on that date, the loan account could be regularised. The learned counsel appearing for the petitioner submits that the plight of the petitioner is very pathetic, as stated in para 3 of the petition, and that he is undergoing treatment for 'Cancer' from August 2007. Because of the treatment and other pre-occupations, the petitioner could not arrange necessary funds so as to comply the requirements in Ext.P2. Learned counsel further submits that the petitioner has made alternate arrangement to clear the entire 'overdue' amount with further interest, if any, and W.P.(C).No.12661/2010 2 that the same will be cleared within one month. After hearing both sides, this Court finds that one more opportunity can be given to the petitioner. In the above circumstances, the petitioner is permitted to clear the 'overdue' amount as specified in Ext.P2 with further interest, if any, within one month. If the same is paid by the petitioner, the loan account of the petitioner shall stand regularised. This will be in addition to the liability of the petitioner to clear the regular EMIs. It is also made clear that if there is any failure in clearing the 'overdue' amount as above, or if any 'two' consecutive defaults are made in remitting the regular EMIs, the respondent 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. P.R.RAMACHANDRA MENON, (JUDGE ) vps W.P.(C).No.12661/2010 3 W.P.(C).No.12661/2010 4