IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 11TH JULY 2008 / 20TH ASHADHA 1930 WP(C).No. 9963 of 2008(J) ------------------------------------ PETITIONERS: --------------------- 1. RADHAKRISHNAN,S/O.KUTTAN,AGED 50 YEARS, KOOTTUM VATHUKKAL,KALLUMPURAM,SAKTHIKULANGARA, KOLLAM. 2. SHEELA,W/O.RADHAKRISHNAN,AGED 40 YEARS, OF -DO- BY ADV. SRI.DILEEP P.PILLAI. RESPONDENTS: ----------------------- 1. KOLLAM CO-OPERATIVE URBAN BANK LTD NO.960,HEAD OFFICE,Y.M.C.A ROAD,KOLLAM-1. 2. STATE OF KERALA, REPRESENTED BY THE DISTRICT COLLECTOR KOLLAM. R2 BY GOVT. PLEADER SRI. K.C. SANTHOSH KUMAR, R1 BY ADV. SRI.N.DHARMADAN (SR.), R1 BY ADV. SMT.D.P.RENU. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.9963 of 2008-J = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 11th day of July, 2008. JUDGMENT The petitioners availed a housing loan from the first respondent with a repayment period of 132 months. The loan was availed on 9-6-2004. On account of default in repayment, distress action followed. The petitioners have challenged the same. On 25-3-2008, an interim order was issued requiring the petitioners to remit certain amounts and requiring the first respondent to state whether the transaction could be regularized. Following that interim order, the petitioners have paid an amount of Rs.75,000/-. It is submitted by the learned counsel for the first respondent that if 1/3 of the total outstandings is remitted, the facility could be regularized. This is recorded and the writ petition is ordered directing that one among the WP(C)9963/2008 -: 2 :- petitioners shall appear before the first respondent to have the transaction regularized in terms of what is stated above. To aid such process, the distress action shall stand deferred for a period of one month from now, to be regularized, thereafter, by such decision that the first respondent may take regarding regularization. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/110708