IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN TUESDAY, THE 15TH JUNE 2010 / 25TH JYAISTHA 1932 WP(C).No. 13619 of 2010(B) --------------------------------------- PETITIONERS: --------------------- 1. REHANA RANI, KARUMPALLIL HOUSE, KANNIMEL CHERRY, KAVANADU.P.O, KOLLAM -3. 2. MOHAMMED JINNAH ANIL, KARUMPALLIL HOUSE, KANNIMEL CHERRY, KAVANADU.P.O, KOLLAM -3. BY ADVS. SRI.BRIJESH MOHAN, SMT.RESMI G. NAIR. RESPONDENTS: ------------------------ 1. THE QUILON CO-OPERATIVE URBAN BANK LTD. NO. 960, Y.M.C.A ROAD, KOLLAM -1, REPRESENTED BY ITS GENERAL MANAGER. 2. THE GENERAL MANAGER/AUTHORISED OFFICER, THE QUILON CO-OPERATIVE URBAN BANK LTD. NO. 960, YMCA ROAD, KOLLAM-1. BY SRI.N.DHARMADAN, SENIOR ADVOCATE, SMT.D.P.RENU. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 15/06/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.13619/2010-B: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE RECEIPTS ISSUED BY THE RESPONDENTS TOWARDS THE LOAN AMOUNT. EXT.P.2: COPY OF THE NOTICE DTD. 29/07/2009 ISSUED BY THE R.2. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE. Prv. K.SURENDRA MOHAN, J. ------------------------------------------- W.P.(C) No.13619 of 2010 ------------------------------------------- Dated this the 15th of June, 2010 JUDGMENT The petitioners had availed a housing loan for an amount of Rs.4 lakhs from the respondents in the year 2006. The first petitioner is the principal debtor and the second petitioner is the surety for the transaction. The loan has to be repaid in 139 equal monthly instalments. According to the petitioners, they have repaid an amount of Rs.90,000/-. The second petitioner who was employed in the Gulf Countries has lost his job and he has come back to India. He is facing financial difficulties since he has no employment. In spite of the above, it is submitted that the petitioners have paid an amount of Rs.1 lakh in compliance with the interim order dated 23.4.2010 in this case. 2. According to the counsel for the petitioners, the petitioners are ready to regularise their account so that they would get an opportunity to pay the balance amount due to the bank in instalments, as per the schedule of wpc No.13619/2010 2 repayment stipulated by the loan transaction. 3. The counsel for the respondent bank on instructions submits that they have no objection to regularising the loan account of the petitioners provided an amount of Rs.70,000/-, representing the current arrears is paid. However, the counsel for the petitioners submits that the petitioners are not in a position to pay the entire amount in a lump. Therefore, they seek payment of the said amount in instalments. The counsel for the respondent bank also submits that in an addition to the defaulted amount remaining in arrears, the monthly instalment amount should also be paid by the petitioners. In the light of the above submission, I feel that the petitioners can be granted an opportunity to pay the amount that is remaining in default in three monthly instalments. 4. This Writ Petition is accordingly disposed of directing the petitioners to pay the entire amount that is remaining in default in three monthly instalments comprising of an amount of Rs.25,000/- to be paid on 15.7.2010, another amount of Rs.25,000/- on 15.8.2010 wpc No.13619/2010 3 and the balance amount of Rs.25,000/- on 15.9.2010. The petitioners shall also pay the regular monthly instalments payable by them, in addition to the amounts stipulated above. In the event of the petitioners committing default in payment of two consecutive instalments, the bank shall be free to initiate action for recovery of the amounts due, in accordance with law. K.SURENDRA MOHAN, JUDGE css/