IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 11TH DECEMBER 2008 / 20TH AGRAHAYANA 1930 WP(C).No. 35645 of 2008(R) -------------------------- PETITIONER(S): --------------- 1. PRADOSH.D.G., SANDHY BHAVAN, K.P.N.R.A, A/73, MELARIKONAM, KANJIRAMPARA P.O., THIRUVANANTHAPURAM. 2. SANDHYA.V, SANDHY BHAVAN, K.P.N.R.A, A/73, MELARIKONAM, KANJIRAMPARA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.RAJESH P.NAIR RESPONDENT(S): --------------- THE HDFC BANK LTD., (REPRESENTED BY ITS AUTHORIZED OFFICER, HDFC HOUSE, VAZHUTHACAUD, THIRUVANANTHAPURAM. BY ADV.SRI.K.K.CHANDRAN PILLAI, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.35645 OF 2008 ------------------------------------------- Dated this the 11th day of December, 2008 JUDGMENT Heard learned counsel for the petitioners and learned standing counsel for the respondent. Petitioners availed a housing loan of Rs.3 lakhs with a repayment period of 180 months and with E.M.I. of Rs.3410/-. Admittedly, the repayments were irregular and only a total amount of Rs.20,640/- has been remitted, even according to the Petitioners, as of now. Learned counsel for the petitioners says that the default is not intentional. This may be so. But, on default of EMIs, penal interest and other incidents get accrued and the only manner in which the petitioners can resurrect the transaction to enjoy it for the entire period for which it was availed, is to pay off an amount which would fairly reflect the total outstandings to regularise the transaction. Having considered the materials, I am clear in my mind that unless the petitioners pay an amount of Rs.82,000/- on or before WPC.35645/08 Page numbers 18.12.2008, the date fixed for dispossession, following order under Section 14 of the SARFAESI Act, the petitioners cannot be permitted to continue in possession. If the petitioners make such payments, they will not be dispossessed and will be permitted to continue to enjoy the facility on such modified terms as may be provided on the EMI component, taking into consideration the remaining outstandings. However, if there is default in remitting any of the future instalments, dispossession order would be enforced. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.