IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN TUESDAY, THE 4TH OCTOBER 2011 / 12TH ASWINA 1933 WA.No. 1451 of 2011() --------------------- AGAINST THE JUDGEMENT IN WPC.9610/2010 Dated 13/09/2010 .................... APPELLANT: WRIT PETITIONER ----------------------------- T.MAHAMOOD, AGED 45 YEARS, S/O.ABDULLAHKUTTY, THEKKEKAYIL HOUSE, P.O.EDAKKARA, THRISSUR DISTRICT. BY ADV. SRI.RAJIT RESPONDENTS: RESPONDENTS -------------------------- 1. THE AUTHORISED OFFICER, CATHOLIC SYRIAN BANK, ZONAL OFFICE, THRISSUR. 2. CATHOLIC SYRIAN BANK, EAST FORT BRANCH, THRISSUR DISTRICT, REPRESENTED BY THE BRANCH MANAGER. GOVERNMENT PLEADER SMT. T.B. RAMANI. THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 04/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N. RAMACHANDRAN NAIR & P.S. GOPINATHAN, JJ. = = = = = = = = = = = = = = = = = = W.A. NO. 1451 OF 2011 = = = = = = = = = = = = = = = = = = DATED THIS, THE 4TH DAY OF OCTOBER, 2011. J U D G M E N T C.N. Ramachandran Nair, J. Heard counsel for the appellant and the standing counsel for respondents. The appellant availed a house building loan from the respondents. Default led to initiation of proceedings for recovery under Securitization Act. Challenge against the proceedings led to the impugned judgment wherein the learned Single Judge granted instalment facility. It is against this judgment, this appeal is filed with a substantial delay. During hearing the delay condonation petition, we heard the case on merit as well. 2. Counsel for the appellant undertook in court to clear the entire arrears with accrued interest on or before 30.12.2011. Standing counsel for the Bank submitted that sale of the property by the appellant is illegal even though the same is subject to the mortgage executed in favour of the Bank. Since the mortgage continues, we think the appellant can be granted some more time to settle the liability with accrued interest and future interest for W.A. 1451/2011 2 the next two months. However, we make it clear that relief is granted based on undertaking by the appellant and in the event of default, the respondent can move for contempt besides proceeding for recovery. 3. The writ appeal is accordingly allowed modifying the judgment of the learned Single Judge by granting time till 30th December to the appellant to settle the entire liability. The Bank will furnish a detailed statement giving credit for the payments made and showing the accrued liability as on 30th December for the appellant to make payment on or before 30.12.2011 failing which the Bank is free to move for contempt before proceeding to take possession of the property and sale of the same in exercise of the mortgage right available to them. C.N. RAMACHANDRAN NAIR, (JUDGE) P.S. GOPINATHAN, (JUDGE) KNC/-