IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 14TH OCTOBER 2008 / 22ND ASWINA 1930 WP(C).No. 29859 of 2008(D) --------------------------------------- PETITIONER(S): ------------------- SRI.K.K. SUGUNANDAN, KOLLAMPARAMBIL HOUSE, SOUTH ARYAD, AVALOOKUNNU.P.O, ALAPPUZHA. BY ADV. SRI.S.SANAL KUMAR RESPONDENT(S): ----------------------- 1. THE CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION-3, ZONAL OFFICE, PANAMPILLY NAGAR, ERNAKULAM. 2. THE MANAGER, STATE BANK OF TRAVANCORE, PATHIRAPPALLY BRANCH, ALAPPUZHA. ADV. SRI.K.S.DILIP FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO. 29859 OF 2008 (D) ------------------------------------------------------ Dated this the 14th day of October, 2008 J U D G M E N T The petitioner availed a loan from the first respondent for construction of residential house. He, therefore, after retired from service, though his wife is stated to be working. Their elder son met with a road accident while studying for Plus Two course and he succumbed to injuries after being in a state of coma for few weeks. These situations led to default in repayment of the loan. The materials on record show that he had been making certain payments and also that he should be able to repay the remaining amounts. The petitioner has filed this writ petition essentially seeking an order staying the proceedings pursuant to Exhibit P1 notice. The learned counsel for the respondents states that if an amount of Rs.1,25,000/- is paid, the petitioner's transaction could be regularised. Following the submissions made yesterday, the learned counsel for the petitioner, on further instructions from petitioner, states today that the petitioner's wife has applied for a PF loan, which would be available to her, since she is employed as a staff nurse in the medical service. Accordingly, it is stated that the PF loan application would be processed and the amounts would be released within a period of 45 days. W.P.(C) No.29859/2008 - 2 - Under such circumstances, taking into consideration the extra ordinary situation in hand, I am inclined to make an order directing that the distress action will be held back for a period of sixty day to enable the petitioner to deposit the amounts to regularise the transaction, taking this as an exceptional case. It will be open to the bank to ensure that the petitioner also pays the charges incurred for securitisation proceedings. This writ petition is ordered accordingly. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/16/10 // True copy // P.A. to Judge.