IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 28TH AUGUST 2009 / 6TH BHADRA 1931 WP(C).No. 24501 of 2009(G) -------------------------- ( CMP.5329/2009 of C.J.M., ALAPPUZHA ) PETITIONER: --------------- V. R. RAJENDRAN NAIR, AGED 47 YEARS, SON OF K.N.RAGHAVAN PILLAI, REVINDRA VILASAM, ANGADICKAL SOUTH, ANGADICKAL P.O., CHENGANNUR-689122. BY ADV. SRI.P.B.SAHASRANAMAN SRI.K.JAGADEESH SRI.T.S.HARIKUMAR RESPONDENTS: --------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS CHIEF MANAGER, CHENGANNUR BRANCH, CHENGANNUR, ALAPPUZHA-689121. 2. THE AUTHORISED OFFICER, STATE BANK OF INDIA, CHENGANNUR, ALAPPUZHA-689121. BY ADV. MR. P.V. SURENDRANATH, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 24501 OF 2009 ......................................................................... Dated this the 28th August, 2009 J U D G M E N T The petitioner had availed a housing loan of Rs. Four lakhs in the year 2000, but repayments could not be effected on time as scheduled, which compelled the respondent Bank to proceed with further steps invoking the provisions under the SARFAESI Act. This was subjected to challenge by filing W.P.(C) No. 9268 of 2008, which led to Ext.P5 verdict dated 25.03.2008, whereby the petitioner was permitted to discharge the liability by way of monthly installments. It is the case of the petitioner that because of some frustrating pecuniary circumstances, the petitioner could not satisfy the direction, under which circumstances, the respondent Bank had resorted to further steps. Immediately thereupon, the petitioner approached the respondent Bank and sought for some breathing time to clear the entire liability. 2. The learned Counsel for the petitioner submits that to W.P.(C) No. 24501 OF 2009 2 prove his bonafides, substantial payments have already been effected as borne by Ext.P3, whereby the petitioner cleared a sum of Rs. Four lakhs and various other amounts as mentioned in paragraph No.7 of the Writ Petition, which includes payment of Rs.25,000/- effected on 31.05.2008, Rs.20,000/- 0n 07.01.2009 and Rs.30,000/- on 12.03.2009. The learned Counsel for the petitioner submits that the entire outstanding liability will be cleared within three months and it is with this intent that the petitioner has approached this court, particularly in view of the sequence of events and the stand taken by the respondent Bank. 3. The learned Counsel for the respondent Bank submits that the opportunity already extended to the petitioner has not been properly availed by him and hence he does not deserve any sympathy at all. The learned Counsel however submits that a further time of 'three months' can be granted to the petitioner, if 50% of the liability is cleared forthwith. 4. In the said circumstances, the Writ Petition is disposed of, directing the petitioner to clear 50% of the liability within one month and the remaining 50% to be satisfied within one month W.P.(C) No. 24501 OF 2009 3 thereafter. Subject to the above, all coercive steps stated as being pursued against the petitioner shall stand deferred for the time being. It is made clear that if any default is committed by the petitioner, the respondent Bank will be at liberty to proceed with further steps, from the stage where it stands now, for realisation of the entire amount in a lump sum. The Writ Petition is disposed of. P.R. RAMACHANDRA MENON, JUDGE. lk