IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 7TH JULY 2009 / 16TH ASHADHA 1931 WP(C).No. 18861 of 2009(C) -------------------------- PETITIONER: --------------- G.SIVADAS, S/O. GOPALAN.C., LAKSHMI NILAYAM, NEDUMAPALLAM, VANDITHAVALAM, CHITTOOR. BY ADV. MS. S .MUMTAZ RESPONDENTS: --------------- INDIAN ABNK, REP. BY THE AUTHORISED OFFICER, CIRCLE OFFICE P.B.NO.3575, 38/1672-B&C, CHITTOOR ROAD, PULLEPADY JN. ERNAKULAM. BY ADV. MR. S. ESWARAN, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 18861 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 7th day of July, 2009 JUDGMENT The petitioner has approached this Court almost in the 11th hour, before finalizing the sale proceedings pursuant to Ext.P5 notification of sale, which is being conducted today. The petitioner had availed a housing loan of Rs. 6 lakhs from the respondent Bank in the year 2005. Admittedly, the repayment was effected only up to 2006 and thereafter there occurred some default, which is attributed to a road traffic accident occurred in the year, 2007, whereby the petitioner allegedly sustained serious injuries and was laid up. The learned counsel for the petitioner submits that, the petitioner might be permitted to clear the defaulted arrears by way of installments and to have the loan account regularized. 2. The the learned counsel appearing for the Bank, on instructions, submits that, the petitioner was not at all eager to clear the liability at any point of time. The hardships stated as being caused to the petitioner are not at all palatable in so far as the petitioner, as well as his wife, are employed in Government Service and are earning their salary without fail, submits the learned counsel for the Bank. It is also brought to the notice of this Court that, considering the request made by the petitioner, many an opportunity was given to him to clear the WP (C) No.18861 of 2009 : 2 : defaulted arrears and to have the loan account regularized, which however was not utilized by the petitioner. The learned counsel further submits that, the sale notified vide Ext.P5 is taking place today and the tenders submitted by the prospective bidders are to be opened taking the proceeding to a logic conclusion, lest it should cause irrecoverable loss and hardships to the Bank and the bidders concerned. 3. After considering the facts and circumstances, this Court finds it fit and proper that, the last opportunity can be given to the petitioner to save his property, if the petitioner clears the entire outstanding liability including interest and cost under the loan transaction, in six equal monthly installments. The first installment shall be effected on or before the 30th of this month, to be followed by five similar installments to be effected on or before the 30th of the succeeding months. It is made clear that, the confirmation of the sale will be kept in abeyance and the respondent Bank will be permitted to proceed with further steps, if any default is committed by the petitioner in satisfying any of the installments as aforesaid. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON, JUDGE kmd