IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 23RD JULY 2010 / 1ST SRAVANA 1932 WP(C).No. 23088 of 2010(I) -------------------------------------- PETITIONER(S): ------------------------ SMT.OMANA AMMA. S., VADASSERIL PUTHEN VEEDU, MUTHUKULAM SOUTH P.O., ALAPPUZHA. BY ADV. SRI.SEBASTIAN PHILIP, SRI.R.ANIL. RESPONDENT(S): -------------------------- 1. STATE OF KERALA, REPRESENTED BY SECRETARY, CO-OPERATIVE DEPARTMENT, SECRETARIAT, THIRUVANANTHAPURAM. 2. THE AUTHORIZED OFFICER, THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, ALAPPUZHA. 3. THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, ALAPPUZHA. 4. THE BRANCH MANAGER, THE ALAPPUZHA DISTRICT CO-OPERATIVE BANK LTD., MUTHUKULAM. R1 BY GOVT. PLEADER MR.BIJOY CHANDRAN. R2 TO R4 BY ADV. MR.P.K. VIJAYAMOHANAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/07/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs. P.R.RAMACHANDRA MENON, J -------------------------------------------- WP(C) NO. 23088 OF 2010 -------------------------------------------- Dated this the 23rd day of July, 2010 JUDGMENT The petitioner availed a housing loan of Rs.4 lakhs from the respondent Bank in the year 2001, creating security interest over the property in question. But since the repayment was not effected as scheduled and undertaken, the Bank declared the account as 'NPA' and proceeded with steps under the SARFAESI Act, which is under challenge in this Writ Petition. 2. The learned counsel for the petitioner submits that the default was never wilful but because of some unforeseen circumstances and that the petitioner would like to clear the entire liability, for which some breathing time is sought for. It is also submitted that the petitioner does not intend to press any other grounds nor does she intend to avail the statutory remedy as provided under Section 17 of the SARFAESI Act by approaching the DRT. 3. The learned counsel for the respondent Bank submits on instructions that the loan period is already over, the same having expired on 22.07.2008 and much leniency has already been shown by the Bank giving sufficient time; despite which the petitioner has not cleared the liability; which made them to proceed with further steps which is stated as 2 WP(C) No. 23088/2010 perfectly within the four walls of the law and not assailable under any circumstance. It is also brought to the notice of this Court that, the outstanding arrears as on date is about Rs.2,77,320/-. 3. Considering the persuasive submissions made by the learned counsel for the petitioner, this Court finds it fit and proper to permit the petitioner to clear the liability in a phased manner. Accordingly, the petitioner is directed to clear the entire liability by way of 'six' equal monthly instalments, the first of which shall be effected on or before the 20th August, 2010, to be followed by similar instalments to be effected on or before the 20th of the succeeding months. It is made clear that if any default is committed by the petitioner in satisfying the liability as above, the respondents will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc