IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 13TH DECEMBER 2011 / 22ND AGRAHAYANA 1933 WP(C).No. 33238 of 2011(D) ---------------------------------------- PETITIONER(S): ----------------------- KHADEEJA V, WIFE OF V.MOHAMMED VELLANGARA HOUSE, NEDUVA P.O, PARAPPANGADI, MALAPPURAM DISTRICT. BY ADV. SRI.P.RAVINDRA NATH RESPONDENT(S): --------------------------- 1. MALAPPURAM DISTRICT CO-OPERATIVE BANK, REPRESENTED BY ITS AUTHORIZED OFFICER, HEAD OFFICE, MALAPPURAM-673 004. 2. THE MANAGER, MALAPPURAM DISTRICT CO-OPERATIVE BANK PARAPPANGADI BRANCH, PARAPPANGADI POST, MALAPPURAM-673 004. BY ADV. MR.E.S.M. KABEER, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/12/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 33238 of 2011(D) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 TRUE COPY OF THE MEDICAL CERTIFICATE DATED 02.02.2004. EXT.P2 COPY OF THE NOTICE UNDER SECTION 13(2) OF SECURITIZATION ACT. EXT.P3 TRUE COPY OF THE SALE NOTIFICATION DATED 30.11.2011. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.S. TO JUDGE rs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33238 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 13th day of December, 2011. J U D G M E N T The petitioner challenges proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for recovery of loan amounts due from the petitioner. The petitioner submits that the petitioner is in a very difficult circumstance and therefore the bank may be directed to regularise the loan account by paying off the defaulted arrears of the instalments so that the petitioner can continue to pay future instalments in accordance with the loan agreement. 2. This is opposed by the counsel for the bank. He points out that the petitioner has paid only Rs. 30,000/- in the loan account and more than Rs. 8 lakhs is due even for regularisation of the loan account. 3. After having considered the rival contentions, I am of opinion that the respondents can show some more leniency to the petitioner in the matter of regularising the loan account. Accordingly, this writ petition is disposed of with the following directions: The petitioner shall pay an amount of Rs. 1 lakh on or before 31.12.2011. The balance amounts required for regularising the loan account shall be paid by the petitioner in three equal monthly instalments payable on 31.1.2012, 29.2.2012 and 31.3.2012. The petitioner shall also pay the regular instalments payable for the said months. If the W.P(C) No. 33238 of 2011 -: 2 :- petitioner pays the above amounts and instalments as directed above, the respondents shall regularise the loan account and allow the petitioner to pay off the future instalments on due dates as per the loan agreement. However, if the petitioner commits default in payment of any of the above said amounts on the due dates or any of the future instalment as per the loan agreement, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. Siri Jagan, Judge. Tds/