IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 20TH NOVEMBER 2008 / 29TH KARTHIKA 1930 WP(C).No. 26340 of 2008(I) -------------------------- PETITIONER(S): --------------- SUBHASH S, AGED 48 YEARS, S/O LATE SUKUMARAN, GREESHMAM, NEARKELESWARAM TEMPLE, CHIRAYINKEEZHU, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.ALAN PAPALI RESPONDENT(S): --------------- 1. UCO BANK-REPRESENTED BY THR BRANCH MANAGER, THIRUVANANTHAPURAM BRANCH, OVERBRIDGE JUNCTION THIRUVNANTHAPURAM 695 001. 2. THE AUTHORISED OFFICER, UCO BANK LTD., REGIONAL OFFICE, OVERBRIDGE JUNCTION, THIRUVANANTHAPURAM. ADV. SRI.GEORGE KARITHANAM VARGHESE FOR R1 SRI.V.J.JOHN FOR R1 SRI.C.I.ABRAHAM FOR R1 SRI.JOSE KURIAKOSE (VILANGATTIL) FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 20/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX IN WPC.26340/08 PETITIONER'S EXHIBITS: EXT.P1: TRUE COPY OF THE RECEIPT OF CASH DEPOSIT SLIP OF UCO BANK LIMITED DATED 14.7.2008. EXT.P2: TRUE COPY OF THE AUCTION SALE NOTICE OF THE PROPERTY MORTGAGED BY THE PETITIONER TO THE RESPONDENT BANK DATED 30.7.2008 WHICH APPEARED IN KERALA KAUMUDI DAILY DATED 1.8.2008. /TRUE COPY/ THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.26340 OF 2008 ------------------------------------------- Dated this the 20th day of November, 2008 JUDGMENT Learned counsel for the petitioner and learned counsel for the bank state that the amount covered by the interim order has been deposited. The materials on record would disclose that on different defaults, the transaction got classified as NPA, resulting in the impugned action. The loan was granted for housing purpose, with a repayment period of 15 years. Taking into consideration the amounts already paid, including under the interim order, if the petitioner remits a further amount of Rs.2 lakhs, the bank would be able to take the account out of the NPA status. Under such circumstances, it is directed that if the petitioner remits Rs.2 lakhs within one month, the bank will regularise the transaction and let the petitioner continue to enjoy the benefit of the loan and would be liable for further proceedings in case of default of EMIs. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.