IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 5TH APRIL 2010 / 15TH CHAITHRA 1932 WP(C).No. 11133 of 2010(N) --------------------------------------- PETITIONER: ------------------- P.B.PRADEEP, AGED 36 YEARS, S/O.K.V.BALAN, PRAMOD SADANAM, NAD P.O., ALUVA, ERNAKULAM. BY ADV. SRI.K.S.RAJEEV (ALUVA). RESPONDENTS: ------------------------ 1. MANAGER, STATE BANK OF INDIA, ALUVA BRANCH. 2. ASSISTANT GENERAL MANAGER, STATE BANK OF INDIA, IST FLOOR, VANKARATH TOWERS, BYPASS JUNCTION, PADIVATTOM, ERNAKULAM, KOCHI. BY SRI. K.K. CHANDRAN PILLAI, S.C, S.B.I. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/04/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 11133 of 2010-N ---------------------------- Dated this the 5th day of April, 2010. J U D G M E N T The petitioner had availed a 'housing loan' of Rs.3.5 lakhs from the respondent Bank on 26.11.2006, however the repayment could not be effected on time. In the said circumstances, the Bank declared the account as 'NPA' and proceeded with steps under the relevant provisions of the SARFAESI Act, which is under challenge in this Writ Petition. 2. The learned counsel for the respondent Bank submits on instructions, that a sum of Rs.1.3 lakhs is 'overdue' in respect of the defaulted instalments and that the petitioner has not remitted the due instalments for nearly 30 months, adding that, unless and until the said amount is paid, the question of regularisation is not liable to be entertained. 3. The learned counsel for the petitioner submits that the petitioner's default was never wilful, but because of the hospitalisation of the mother and in view of the huge expenses W.P(C) No. 11133 of 2010-N 2 incurred for her treatment. The only prayer now put forth by the petitioner is to provide some breathing time to remit the 'overdue' amount and to have the loan account regularised. 4. After hearing both the sides, this Court permits the petitioner to clear the entire 'overdue' amount by way of 'three' equal monthly instalments; the first of which shall be effected on or before the 30th of April, 2010; to be followed by similar instalments to be effected on or before the 30th of the succeeding months; on which event, the loan account shall stand regularised. This is in addition to the liability of the petitioner to clear the regular EMIs. Subject to the above, all further coercive proceedings pursuant to Ext.P1 shall be kept in abeyance, for the time being. It is also made clear that, if any default is committed by the petitioner in satisfying the 'overdue' amount as above, or if any two consecutive defaults are made regarding payment of the regular EMIs, it will open to the Bank, to proceed with appropriate steps for realisation of the entire amount in a lump sum; from the stage where it stands now. The Writ Petition is disposed of. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// ab P.A to Judge