IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 29TH OCTOBER 2008 / 7TH KARTHIKA 1930 WP(C).No. 31762 of 2008(F) -------------------------- CMP.692/2008 of C.J.M.,KOLLAM .................... PETITIONER(S): ------------------------- T.ASSIM, S/O.THANJAL KUNJU, THAMARAPALLITHEKKETHIL, KADAPPA, MYNAGAPALLY P.O., KARUNAGAPPALLY, KOLLAM. BY ADV. SRI.JOHN BRITTO SRI.C.A.RAJEEV RESPONDENT(S): ---------------------------- 1. STATE BANK OF TRAVANCORE, KARUNAGAPPALLY BRANCH, KOLLAM, REPRESENTED BY ITS CHIEF MANAGER AND AUTHORISED OFFICER. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, KARUNAGAPPALLY BRANCH, KOLLAM. ADV. SRI. SAJI VARGHESE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.31762 OF 2008 ------------------------------------------- Dated this the 29th day of October, 2008 JUDGMENT The petitioner availed a housing loan repayable at EMIs of Rs.9,970/- per month from August, 2005. On default, the loan was recalled and resultantly, the transaction was classified as NPA. Proceedings followed under the SARFAESI Act. The materials would show that the petitioner had not paid amounts and is a chronic defaulter. May be that the petitioner who is employed abroad had sent money to his father, who, in turn, failed to discharge the liability. That is no reason to interfere with the impugned proceedings. Having regard to the total amounts that would have accrued by now, if the petitioner would have continued remitting the EMIs and taking into consideration the entire amounts due on the loan being recalled which action cannot be impeached as without jurisdiction, it is ordered that if the petitioner remits an amount of Rs.3,00,000/- within three weeks, the impugned distress action will stand suspended to let the petitioner pay off the remaining outstandings in eight equal WPC.31762/08 Page numbers monthly instalments, payable on or before the 15th of every month commencing from December, 2008. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically and distress action shall follow. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.