IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 12TH NOVEMBER 2009 / 21ST KARTHIKA 1931 WP(C).No. 32299 of 2009(F) -------------------------- PETITIONER: --------------- KUNJUKUTTY, AGED 65 YEARS, S/O. AYYAPPAN, KAREELAKULATHIL VEEDU, KIDAGANNOOR P.O., PATHANAMTHITTA DISTRICT. BY ADV. SRI.M.R.SUDHEENDRAN RESPONDENTS: --------------- 1. THE AUTHORIZED OFFICER, CORPORATION BANK, ZONAL OFFICE, KERALA, PUKALKKATTU BUILDING, PALARIVATTOM, ERNAKULAM. 2. THE DISTRICT COLLECTOR & DISTRICT MAGISTRATE, PATHANAMTHITTA. 3. THE TAHSILDAR, KOZHENCHERRY TALUK, PATHANAMTHITTA DISTRICT. 4. THE CORPORATION BANK, MOOLAMKUZHY BRANCH, PATHANAMTHITTA. BY STANDING COUNSEL SRI.N.RAJAGOPALAN NAIR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/11/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL RAHIM, J. ----------------------------- W.P(C) No. 32299 of 2009-F ------------------------------ Dated this the 12th day of November, 2009. J U D G M E N T 1. The petitioner, a guarantor with respect to a loan availed by his son from the fourth respondent Bank. Consequent to the default committed in re-payment respondents 1 and 4 had initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the property belonging to the petitioner, which was mortgaged for securing the loan, has been proceeded against. Invoking Section 14(1) of the Act, the second respondent was approached and Ext.P3 order was issued directing the third respondent to take over possession of the property if necessary with police assistance. 2. It is submitted that the petitioner is aged 65 years and his right hand is paralysed. He is unemployed and he is residing with the family in the property which is now sought to be proceeded against. In support of the petitioner's contention Ext.P1 series of medical records are produced. Limited prayer of the petitioner is that, considering the special circumstances, he may be granted W.P(C) No. 32299 of 2009-F 2 instalment facility to pay off the entire liability. 3. Heard, standing counsel appearing for respondents 1 and 4. It is submitted that the loan in question was availed as early as in 2004 and drastic steps are now resorted to since no amounts were paid pursuant to repeated demands. Since the loan account is in chronic default, the bank is not favouring any enlargement of time for payment of the balance amount. 4. Having considered rival contentions and facts and circumstances, I am of the opinion that some indulgence can be shown in the matter of permitting the petitioner to pay off the entire liability, taking into consideration of circumstances existing. 5. Accordingly this writ petition is disposed of directing the petitioner to make payment of the amount of Rs.30,000/- on or before 31.12.2009. The respondents are directed to keep in abeyance further coercive steps till such date. On payment of the said amount, the respondents 1 and 4 shall issue a statement showing the net balance outstanding, after crediting all payments and after considering waiver of interest/default interest and expenses to the possible extent. The petitioner shall continue payment of the balance so intimated in 5 (five) equal monthly W.P(C) No. 32299 of 2009-F 3 instalments thereafter starting on or before 31.1.2010 and on or before the last day of every succeeding months. 6. It is made clear that on the event of the default in payment of any amounts as stipulated above, the respondents will be free to proceed with further steps pursuant to Ext.P3 order and on such event the petitioner will be precluded from raising any subsequent challenge either before this Court or before any other forum. Sd/- C.K.ABDUL RAHIM JUDGE //True Copy// PA to Judge ab W.P(C) No. 32299 of 2009-F 4