IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN SATURDAY, THE 20TH AUGUST 2011 / 29TH SRAVANA 1933 RP.No. 614 of 2011() ----------------------------- W.P.(C) NO.19087/2011 ON THE HONOURABLE COURT. .......... REVIEW PETITIONER(S): PETITIONER -------------------------------------------------------- P.S.KOCHUMON, AGED 76 YEARS, S/O. SANKARAN, PARANGODATH HOUSE, P.O.NEDUPUZHA, THRISSUR. BY ADV. SMT.MARY BEENA JOSEPH RESPONDENT(S): RESPONDENTS ------------------------------------------------ 1. THE MANAGER, PUNJAB NATIONAL BANK, GURUVAYOOR BRANCH, THRISSUR-680 101. 2. THE CHIEF MANAGER AND AUTHORISED OFFICER, PUNJAB NATIONAL BANK, CIRCLE OFFICE, 2ND FLOOR, 14/1461, MARKET ROAD, ERNAKULAM-682 011. BY ADV. SRI.K.P.SUDHEER THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 20/08/2011, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: S. SIRI JAGAN, J. ------------------------------------------- R.P.No. 614 of 2011 & W.P.(C) No.19087 of 2011 ---------------------------------------------- Dated this the 20th day of August, 2011 ORDER/JUDGMENT This Review Petition is filed by the petitioner in W.P.(C)No. 19087/2011 seeking review of my judgment dated 18.7.2011 in the said writ petition. The petitioner submits that the petitioner has been dispossessed and the petitioner is in the streets now. While the writ petition was disposed of permitting the petitioner to pay off the amounts in instalments, no orders were passed in respect of handing over possession of the property to the petitioner. It is under the above circumstances, the petitioner seeks review of the judgment. The petitioner submits that the petitioner has already deposited Rs.10 lakhs and he further submits that he may be given re-possession of the secured asset and permitted to pay the balance amounts in six equal monthly instalments. The petitioner undertakes before me that if the petitioner does not comply with the conditions R.P.No.614/11 & W.P.(C)No.19087/11 2 prescribed by this Court for granting the said relief, the petitioner shall surrender possession of the property voluntarily without the Bank having to take any proceedings for possession of the property. 2. This is opposed by the learned counsel for the bank. However, taking a lenient view, I dispose of these review petition and writ petition with the following directions: a) The judgment dated 18.7.2011 is recalled. Instead, the following judgment is passed: The respondents, including the Advocate Commissioner appointed by the Chief Judicial Magistrate to take possession, shall hand over possession of the secured asset to the petitioner within one week. The petitioner shall pay the balance amount due in six equal monthly instalments starting from 1.10.2011. Every subsequent instalment shall be paid on the 1st working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalments, it would be open to the respondent to continue proceedings as now initiated without having to issue R.P.No.614/11 & W.P.(C)No.19087/11 3 any fresh notice or proceedings in that regard. The petitioner shall also file an undertaking before the Bank undertaking to handover possession of the property voluntarily to the Bank in case of default of the above conditions. If the petitioner does not so hand over possession in case of default, it would be open to the Bank to initiate proceedings under the Contempt of Courts Act, before this Court against the petitioner. The writ petition is disposed of as above. S. SIRI JAGAN, JUDGE acd R.P.No.614/11 & W.P.(C)No.19087/11 4 R.P.No.614/11 & W.P.(C)No.19087/11 5