IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 8TH JUNE 2010 / 18TH JYAISTHA 1932 WP(C).No. 12648 of 2010(E) -------------------------- CMP.245/2010 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- A.RAMLA BEEVI, MINNATHA, AMBALAM JUNCTION, THIRUVANANTHAPURAM - 695005. BY ADV. SRI.M.M.HUSAIN RESPONDENT(S): --------------- L.I.C.HOUSING FINANCE LTD., AREA OFFICE 4TH FLOOR, LEELA TOWERS, KESAVADASAPURAM,THIRUVANANTHAPURAM, REPRESENTED BY ITS AUTHORISED OFFICER ANITHA MUTHU LAKSHMI, MANAGER, L.I.C.HOUSING FINANCE LTD. ADV. SRI.R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/06/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J -------------------------------------------- WP(C) NO. 12648 OF 2010 -------------------------------------------- Dated this the 8th day of June, 2010 JUDGMENT The petitioner availed a housing loan from the respondent Bank in the year 2000, but the repayment could not be effected as scheduled, which made her a defaulter; under which circumstance, the Bank declared the account as ‘NPA’ and proceeded with steps under the SARFAESI Act causing interference by the Chief Judicial Magistrate, Thiruvananthapuram for rendering necessary assistance in taking possession of the premises. This made the petitioner to approach this Court by filing the Writ Petition. 2. When the matter came up for consideration before this Court on 08.04.2010, coercive proceedings were intercepted on condition that the petitioner deposited a sum of Rs.50,000/- within one week and another sum of Rs.50,000/- within one month thereafter. The learned counsel appearing for the petitioner submits that the payments as above were effected on 31.04.2010 and 11.05.2010 respectively. 3. The learned counsel appearing for the Bank submits on instructions that, the 'overdue' amount in respect of the housing loan provided to the petitioner, after giving credit to the amounts already satisfied pursuant to the interim order passed by this Court, is nearly Rs.41,210/-. Taking note of the fact that the loan facility extended by the 2 WP(C) No. 12648/2010 Bank is in the 'housing sector', this Court finds it fit and proper to have the loan account regularized on condition that the entire 'overdue' amount is cleared forthwith. 4. In the said circumstances, the petitioner is permitted to clear the entire 'overdue' amount within one month; on which event the loan account will stand regularized. This will be in addition to the liability to clear the regular EMIs as well. Subject to this, the recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance for the time being. It is also made clear that, if any default is committed by the petitioner in satisfying the 'overdue' amount as above, or if any two consecutive defaults are made with regard to the regular EMIs, the respondent Bank will be at liberty to proceed with further steps for realization of the entire amount in a lump sum, by pursuing such exercise from the stage, where it stands now. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc