IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 29TH MAY 2009 / 8TH JYAISHTA 1931 WP(C).No. 13555 of 2009(L) -------------------------- PETITIONER: --------------- AJEESH UMMER, AGED 26, S/O.UMMER, MOOLAYIL HOUSE, KAVUMKARA, MARKET PO, MUVATTUPUZHA. BY ADV. MR. N.K.MOHANLAL RESPONDENTS: --------------- 1. CHIEF MANAGER AND AUTHORISED OFFICER, UNION BANK OF INDIA, K.G.ROAD, KOCHI. 2. BRANCH MANAGER, UNION BANK OF INDIA, MUVATTUPUZHA. BY ADV. MR. A.S.P. KURUP, STANDING COUNSEL, UNION BANK OF INDIA THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 29/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) No. 13555 of 2009 APPENDIX PETITIONER'S EXHIBITS : EXT.P1 : TRUE COPY OF NOTICE UNDER SECTION 13 (2) EXT.P2 : TRUE COPY OF OBJECTION TO EXHIBIT P1 NOTICE EXT.P3 : TRUE COPY OF POSTAL RECEIPT FOR SENDING EXT.P2 OBJECTION EXT.P4 : TRUE COPY OF NOTICE DATED 24.4.2009 ISSUED BY THE BANK /TRUE COPY/ P.A. TO JUDGE P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 13555 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 29th day of May, 2009 JUDGMENT The petitioner has approached this Court challenging proceedings taken by the respondent Bank under the relevant provisions of the SARFAESI Act, when the petitioner turned to be a chronic defaulter in discharging the liability towards the housing loan secured from the Bank. 2. When the matter came up for admission before this Court on 12.5.2009, an interim order of stay was granted against dispossession of the petitioner pursuant to Ext.P4 notice, subject to the condition that the petitioner remitted a sum of Rs.1,00,000/- as specified. The learned counsel for the petitioner submits that, he could remit only Rs.25,000/- and earnest efforts are being taken to clear the balance as well and further that the petitioner has filed I.A. No. 6283 of 2009 for enlargement of time in this regard. 3. With regard to the claim of the petitioner for regularizing the loan amount, the learned counsel for the respondent Bank, on instructions, submits that the loan being a housing loan and considering the particular facts and circumstances, the Bank is prepared to show some more leniency to the petitioner and the loan will be regularized, if the petitioner clears the entire outstanding arrears as on date with WP (C) No. 13555 of 2009 : 2 : interest, within a reasonable time. 4. Considering the above facts and circumstances, the respondent is directed to inform the petitioner as to the total outstanding arrears as on 31.5.2009 with interest, so as to have the loan regularized. Such intimation shall be served to the petitioner within a period of one week, upon which the petitioner will have to clear the entire amount, so intimated, within a period of one month from today. On remitting the said amount, the respondent Bank will take necessary steps to have the loan regularized and on such an event petitioner will continue to effect EMI payable to the bank as originally stipulated by the bank. In order to avoid further round of litigation, it is made clear that, if any consecutive default of 2 or more EMI is committed by the petitioner in effecting payments as above, it will be open for the respondent Bank to proceed with the steps already taken under the SARFAESI Act for realising all the actual outstanding liability by way of lump sum. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON, JUDGE kmd