IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 22ND MAY 2009 / 1ST JYAISHTA 1931 WP(C).No. 7819 of 2009(V) ------------------------- PETITIONER: --------------- B.PUSHPAKUMARI, W/O. RAVINDRAN NAIR, TC 28/1319-1, LAKSHMI HOUSE, SREEKANTESWARAM, THIRUVANANTHAPURAM. BY ADV. MR. M.RAMASWAMY PILLAI MR. P.M.JOSEPH RESPONDENT(S): --------------- 1. UNION OF INDIA, REPRESENTED BY SECRETARY, MINISTRY OF FINANCE, NEW DELHI. 2. THE AUTHORISED OFFICER, CANARA BANK, CHALAI BRANCH, THIRUVANANTHAPURAM. 3. CANARA BANK, REPRESENTED BY ITS BRANCH MANAGER, CHALAI, THIRUVANANTHAPURAM. R1 BY ADV. MR. P.PARAMESWARAN NAIR,ASST.SOLICITOR R2 AND R3 BY ADV. MR. P. GOPINATHA MENON, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/05/2009, ALONG WITH WPC NO. 7738 OF 2009 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 7819 of 2009 and 7738 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 22nd day of May, 2009 JUDGMENT Petitioner in WP(C) No. 7819 of 2009 is the wife of the petitioner in the other case. The petitioners had availed 3 different loans from the third respondent Bank agreeing to repay the same as specified, simultaneously creating equitable mortgage over the property by depositing the title deeds. Subsequently, the petitioners turned to be chronic defaulters, which made the bank to proceed against the them invoking the relevant provisions of the SARFAESI Act, which has been sought to be intercepted by this Court through the above Writ Petitions. 2. When the above matters came up for consideration before this Court on 23.3.2009, an interim order was passed directing the petitioners to remit a total sum of Rs.3,00,000/- on or before 28.3.2009 towards the outstanding liability projected in both the above cases together. The learned counsel for the petitioners submits that they have already satisfied the above requirement in compliance with the direction given by this Court. It is further submitted that the entire liability will be wiped off within a period of six months. The learned standing counsel for the Bank submits that sufficient opportunities have already been WP (C) Nos.7738 of 2009 & 7819 of 2009 : 2 : given to the petitioners and despite the maximum leniency shown, nothing positive has turned out so far. 2. However, taking note of the earnest attempts stated as taken by the petitioners in complying the interim order of this Court by depositing a sum of Rs.3,00,000/- within one week itself; this Court finds it fit and proper to have the matter disposed of, permitting the petitioners to clear the entire outstanding liability within a period of six months; subject to the condition that petitioners deposit a further sum of Rs.1,00,000/- within one month from today. It is also made clear that no further extension of time will be granted and if the petitioners fail to honour their commitment, it will open to third respondent Bank to proceed against the petitioners in accordance with law, for realisation of the entire dues in a lump sum. Both the Writ Petitions are disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE Kmd