IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR TUESDAY, THE 23RD AUGUST 2011 / 1ST BHADRA 1933 WP(C).No. 22829 of 2011(C) -------------------------- PETITIONER(S): --------------- SANTHOSH KUMAR V.G., AGED 45 YEARS, S/O.GOPALAKRISHNAN, SHYAM NIVAS, VAVALLY HOUSE, KALAVOOR P.O., ALAPPUZHA. BY ADV. SRI.K.S.HARIHARAPUTHRAN SRI.M.D.SASIKUMARAN SRI.GEORGE MATHEW SRI.DIPU JAMES SMT.K.V.RAMYA RESPONDENT(S): --------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS CHAIRMAN & MANAGING DIRECTOR, REGISTERED OFFICE, MUMBAI-400011. 2. THE CHIEF MANAGER & AUTHORISED OFFICER, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BEACH ROAD, ALAPPUZHA, PIN 688001. 3. STATE BANK OF INDIA, KALAVOOR BRANCH, ALAPPUZHA DISTRICT REP.BY ITS BRANCH MANAGER, PIN 688522. BY S.C. SHRI R.S. KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX EXT.P1- TRUE COPY OF POSSESSION NOTICE DATED 23.9.2010 EXT.P2-TRUE COPY OF MATHRUBHUMI DAILY DATED 6.8.2011 // TRUE COPY // P.S. TO JUDGE T.R. Ramachandran Nair, J. - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C) No. 22829 of 2011-C - - - - -- - - - - - - - - - - - - - - - - - - - - Dated this the 23rd day of August, 2011. JUDGMENT The petitioner is a loanee to the third respondent branch of the first respondent. The loan was availed of for the purpose of purchasing a residential building. The repayment period is 20 years. The grievance raised in this writ petition is against the initiation of proceedings under the SARFAESI Act. Exts.P1 and P2 are the copies of the proceedings. This writ petition is filed challenging the same. 2. Heard learned Standing Counsel for the Bank. 3. It is submitted that as on today the total defaulted amount will come to Rs.1,63,000/-, apart from other incidental expenses. The normal monthly instalment payable by the petitioner is Rs.3,690/-. 4. Learned counsel for the petitioner prayed for grant of sufficient time to pay off the defaulted arrears. It is assured that the entire amounts will be paid within six monthly instalments. Learned Standing Counsel for the Bank opposed the same by stating that the petitioner will have to pay a substantial amount to enable the Bank to consider his request in the matter. 5. Having regard to the fact that the petitioner is expected to clear off wpc 22829/2011 2 the entire loan availed of within a period of 20 years, the writ petition is disposed of with the following directions: 6. The petitioner will remit the arrears as on today, viz. Rs.1,63,000/- in five equal monthly instalments. This will be paid along with the regular monthly instalments payable. Depending upon the payments, the Bank will take appropriate decision with regard to the proceedings initiated under the SURFAESI Act. The first instalment will be paid on or before 15.9.2011. If any default is committed in making the payment, the Bank is free to proceed against the petitioner in accordance with law. The writ petition is disposed of as above. No costs. (T.R. Ramachandran Nair, Judge.) kav/