IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH MONDAY, THE 23RD MARCH 2009 / 2ND CHAITHRA 1931 WP(C).No. 21359 of 2008(P) -------------------------- PETITIONER(S): --------------- G.REMA DEVI, BHARATHAM, T.C.4/2239 (13), KAIRALI NAGAR, KURUVANKONAM, KOWDIAR P.O., THIRUVANANTHAPURAM. BY ADV. SRI.N.NANDAKUMARA MENON, SENIOR ADVOCATE SRI.P.K.MANOJKUMAR SMT.SUSHYA RAJAN RESPONDENT(S): --------------- 1. THE KERALA STATE CO-OPERATIVE BANK LIMITED, REPRESENTED BY ITS MANAGING DIRECTOR, REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM - 695 001. 2. THE AUTHORISED OFFICER (REGIONAL MANAGER IN CHARGE) REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM - 695 001. 3. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM - 695 001. ADV. SRI.NAGARAJ NARAYANAN FOR R1 TO 2 GOVERNMENT PLEADER MR.BEJOY CHANDRAN FOR R3 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 23/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WPC,21359/08 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF NOTICE DT 12.3.08. P2 COPY OF REPRESENTATION DT NIL. P3 COPY OF NOTICE DT 7.7.08 BY R1. P4 COPY OF REPRESENTATION DT NIL TO R1 P5 COPY OF OBJECTION DT 7.5.08 RESPONDENTS' EXHIBITS: R1(A) COPY OF REPLY DT 22.12.07. // TRUE COPY // P.A. TO JUDGE K.M. JOSEPH, J. ```````````````````````````````````````````````````` W.P.(C) No. 21359 OF 2008 P ```````````````````````````````````````````````````` Dated this the 23rd day of March, 2009 J U D G M E N T Petitioner availed a loan from the 1st respondent but not repaid. Petitioner challenges Exts.P1 and P3 which are proceedings under the SARFAESI Act. 2. I heard learned counsel for the petitioner, learned counsel appearing for respondents 1 and 2 and learned Government Pleader. Learned counsel for the petitioner submits that the petitioner may be given time to pay the defaulted amounts in instalments and the account may be regularised. Learned counsel for respondents 1 and 2 does not seriously oppose the request to consider the claim for regularisation of the account. 3. Accordingly, writ petition is disposed of as follows. Recovery steps against the petitioner will be kept in abeyance if the petitioner remits a sum of Rs.20,000/- before 31.3.2009 and also pays off the amount remaining to be paid towards the defaulted instalments with interest in three equal monthly instalments along with instalments falling due for the WPC.21359/08 : 2 : months. The first instalment shall be paid on or before 30.4.2009, the second instalment shall be paid on or before 31.5.2009 and the last instalment shall be paid on or before 30.6.2009. If the petitioner makes a representation for regularisation of the account upon payment of the last instalment due in June 2009, the 1st respondent will consider the same and pass orders in accordance with law. If the petitioner does not remit any of the amounts as mentioned, the petitioner will lose the benefit of this judgment and the respondent will be free to proceed against the petitioner in accordance with law. Sd/- (K.M.JOSEPH, JUDGE) aks // TRUE COPY // P.A. TO JUDGE