IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 30TH JULY 2010 / 8TH SRAVANA 1932 WP(C).No. 23846 of 2010(E) ---------------------------------------- PETITIONER(S): ------------------------ OMANA AMMA, RENJITH BHAVAN, VETTIKKAVALA P.O., KOTTARAKKARA. BY ADVS. SRI.GEORGE VARGHESE(PERUMPALLIKUTTIYIL), SRI.A.R.DILEEP, SRI.V.SUNIL KUMAR (PANACHAMOODU), SRI.H.JAWHAR. RESPONDENT(S): ---------------------------- 1. STATE OF KERALA REPRESENTED BY THE SECRETARY TO GOVERNMENT IN THE DEPARTMENT OF FINANCE, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM. 2. KERALA STATE FINANCIAL ENTERPRISES LTD., REPRESENTED BY ITS MANAGING DIRECTOR, BHADRATHA, P.B.NO.510, MUSEUM ROAD, CHEMBUKKAVU, THRISSUR-20. 3. KERALA STATE FINANCIAL ENTERPRISES LTD., KOLLAM MAIN BRANCH REPRESENTED BY ITS BRANCH MANAGER, KSFE BUILDINGS, P.B.NO.3, CHINNAKKADA, KOLLAM-1. R1 BY GOVERNMENT PLEADER SRI. BIJOY CHANDRAN R2 & R3 BY ADV. SRI. M.K.CHANDRAMOHAN DAS, SC, KSFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/07/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R.RAMACHANDRA MENON, J. --------------------------- W.P.(C) No. 23846 OF 2010 -------------------------- Dated this the 30th day of July, 2010 J U D G M E N T The petitioner availed a loan of Rs.Two lakhs from the respondent-bank on the strength of the collateral security, agreeing to repay the due amount in time. But, since the petitioner could not make the repayment as assured and turned to be a defaulter, the respondents proceeded with steps invoking the relevant provisions under the Revenue Recovery Act, which is under challenge in this writ petition. 2. Learned counsel for the bank submits that the 'overdue' amount in respect of the defaulted instalments is nearly Rs.78,000/- and unless and until the petitioner clears the said amount, the question of regularisation of the loan account is not liable to be entertained. 3. Learned counsel for the petitioner submits that, the petitioner is willing to clear the 'overdue' amount, assuring that further instalments will be paid without fail, however seeking for some breathing time to clear the overdue amount by way of instalments. 4. In the particular facts and circumstances, this Court WPC No.23846/2010 2 thinks it fit and proper to permit the petitioner to clear the liability in a phased manner. Accordingly, the petitioner is permitted to clear the 'overdue' amount by way of 'three' equal monthly instalments; the first of which shall be effected on or before 20th August, 2010, to be followed by similar instalments to be effected on or before the 20th of the succeeding months. This will be in addition to the liability of the petitioner to clear the regular EMIs as well. It is made clear that if any default is committed by the petitioner in clearing the overdue amount as above or if any two consecutive defaults are made with regard to the regular EMIs, the respondents will be free to proceed with further steps for realisation of the entire amount in a lump. The writ petition is disposed of accordingly. P.R.RAMACHANDRA MENON (JUDGE) vps WPC No.23846/2010 3 WPC No.23846/2010 4 WPC No.23846/2010 5