IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 2ND SEPTEMBER 2008 / 11TH BHADRA 1930 WP(C).No. 25809 of 2008(V) -------------------------- SA.113/2008 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER: ------------ 1. JOSEPH XAVIER ANTHRAPER, XIX/681, MANGALATH HOUSE, MOOLEPADAM ROAD, THAIKKATTUKARA.P.O, ALUVA. 2. TESSY JOSEPH ANTHRAPER, W/O.JOSEPH XAVIER ANTHRAPER, XIX/681, MANGALATH HOUSE, MOOLEPPADAM HOUSE, THAIKKATTUKARA.P.O, ALUVA. BY ADV. SRI.P.KESAVAN NAIR SRI.K.G.CLEETUS RESPONDENTS: ------------- 1. AUTHORISED OFFICER OF INDIAN BANK CIRCLE OFFICE, P.B.NO.3577, PULLEPADY JUNCTION, CHITTOOR ROAD, ERNAKULAM 682 035. 2. SENIOR MANAGER, INDIAN BANK, KAR COMPLEX, R.S.ROAD, ALUVA 683 101, ERNAKULAM DIST. BY ADV.SRI.S.ESWARAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.25809 OF 2008 ------------------------------------------- Dated this the 2nd day of September, 2008 JUDGMENT Petitioners availed a housing loan from the second respondent bank. On chronic default in repayment, notice was issued under the SARFAESI Act followed by proceedings for sale. Initially, it was thought that this may be a case where the petitioners could be given an opportunity to have the loan transaction regularized by repaying the entire outstandings with penalty, interest etc. But, as rightly pointed out by the learned counsel for the bank, even Ext.P7 shows that on 29.7.2008 the first petitioner had an agreement for sale in favour of one Mrs.Mary Baby and that he was prepared to repay, if certain facilities were extended by the bank. Learned counsel for the bank states that having regard to the commercial angle of the transaction, it is not found feasible to regularize the transaction. Under such circumstances, without prejudice to proceedings which are pending before the Debt Recovery Tribunal, this writ petition is dismissed. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.2/9.