IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 18TH JUNE 2009 / 28TH JYAISHTA 1931 WP(C).No. 16842 of 2009(A) -------------------------- (CMP.3404/2009 of C.J.M., ALAPPUZHA ) PETITIONER: --------------- SUMESH C., AGED 26 YEARS, S/O.CHANDRAN, PATHINEZHARAYIL HOUSE, PUNNAPRA P.O., ALAPPUZHA. BY ADV. SRI.N.ASHOK KUMAR RESPONDENT: --------------- THE MANAGER, UNION BANK OF INDIA, ALAPPUZHA BRANCH. BY ADV. MR. A.S.P. KURUP, SC, UNION BANK OF INDIA. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 16842 OF 2009 ......................................................................... Dated this the 18 th June, 2009 J U D G M E N T The petitioner had availed a housing loan to the tune of Rs. Four lakhs from the respondent Bank in the year 2006. However, the petitioner could not effect payment of monthly installments promptly, which made the respondent Bank to proceed against the petitioner, declaring the said loan account as 'NPA' on 31.03.2008, followed by appropriate proceedings invoking the relevant provisions under the SARFAESI Act, which culminated in Ext. P2 proceedings for taking over physical possession based on the orders passed by the concerned C.J.M. 2. The learned counsel for the petitioner submits that the petitioner has already remitted a sum of Rs. One lakh towards the outstanding liability on 01.06.2009 and that the entire balance amount, according to the petitioner, is only Rs.2.25 lakhs along with such other incidental expenses and interest, will be cleared by him within three months. 3. Heard the learned Standing Counsel appearing for the W.P.(C) No. 16842 OF 2009 2 respondent-Bank as well. 4. After considering the facts and figures, this Court thinks it fit and proper to give a direction to the respondent-Bank to keep the coercive proceedings stated as being pursued against the petitioner in abeyance for a period of three months and it is ordered accordingly. The petitioner is directed to wipe out the entire outstanding liability by way of three equal monthly installments, the first of which shall be remitted on or before the 25th of July, 2009 and the remaining two installments on or before the 25th of the succeeding months. It is made clear that if any default is committed in effecting the installments, as above, the Bank will be at liberty to proceed against the petitioner for realisation of the entire outstanding liability in a lump sum. The Writ Petition is disposed of accordingly. P.R. RAMACHANDRA MENON, JUDGE. lk