IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 18TH JANUARY 2010 / 28TH POUSHA 1931 WP(C).No. 1245 of 2010(E) ------------------------- PETITIONER(S): --------------- BINDUMOL T., W/O.LATE ANANDAN PILLAI, MARUTHOOR VEEDU, PUNUKKANNOORCHERY, MAMPUZHA, ALUMOODU P.O., KOLLAM DISTRICT. BY ADV. SRI.C.R.SIVAKUMAR SRI.KRISHNAN.S.RAJ RESPONDENT(S): --------------- 1. THE KERALA STATE CO-OPERATIVE BANK LTD. REPRESENTED BY ITS DEPUTY GENERAL MANAGER CO BANK TOWERS, PALAYAM, THIRUVANANTHAPURAM PIN-695033. 2. THE AUTHORISED OFFICER/THE REGIONAL MANAGER IN CHARGE, REGIONAL OFFICE, THE KERALA STATE CO-OPERATIVE BANK LTD. STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM-1. 3. THE MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD., KOLLAM BRANCH KERALA WATER AUTHORITY BUILDING, ANANDAWALLEESWARAM, KOLLAM DISTRICT. ADV. SRI.NAGARAJ NARAYANAN FOR R1 TO 3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 1245 of 2010 --------------------------------------- Dated, this the 18th day of January, 2010 J U D G M E N T The petitioner’s husband had availed a loan of Rs.3,00,000/- under the Rural Housing Loan Scheme from the respondent Bank in the year 2005, which however could not be repaid on time because of some adverse calamities in life. The petitioner’s husband who was stated as suffering from Cancer was being treated in the RCC Centre, Thiruvananthapuram and finally he succumbed to the fate on 17.05.2008. It is the case of the petitioner that the huge amount had to be incurred by the petitioner for treatment of the husband which however was in vain. It is also stated that the petitioner is taking every step to procure some funds from some other source to clear the liability at the earliest; lest she should be thrown to streets. 2. The learned counsel for the Bank submits on instructions that, some amount 1.41 lakhs is still due towards the defaulted instalments and if the petitioner is ready and willing to clear the said liability, the Bank is prepared to regularize the loan, thus extending a helping hand to the petitioner. 3. After considering the facts and circumstances, the petitioner WP(C) No.1245/2010 2 is permitted to clear the outstanding liability towards the defaulted instalments with interest and cost as stated above, by way of ‘six’ equal monthly instalments, the first of which shall be effected on or before the 15th of February 2010, to be followed by similar instalments to be effected on or before the 15th of the succeeding months. Subject to the above, the loan account will stand regularized and the petitioner will be liable to effect the regular EMIs in connection with the loan transaction. It is made clear that, if any default is made by the petitioner in clearing the outstanding liability as above, towards the defaulted instalments or if any two consecutive defaults are made in satisfying the regular EMIs, the Bank will be at liberty to proceed with further steps for realisation of the due amounts in a lump sum. It will also be open for the petitioner to avail the benefit of 'One Time Settlement', if any implemented in the mean while. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON JUDGE dnc