IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 27TH AUGUST 2008 / 5TH BHADRA 1930 WP(C).No. 25807 of 2008(V) ------------------------------------ PETITIONER : ---------------- MOHANKUMAR, S/O. MICHAEL, AGED 51, CHARIS, CHURCH ROAD, POOJAPPURA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.R.T.PRADEEP RESPONDENTS : ------------------- 1. UNION BANK OF INDIA, REPRESENTED BY ITS CHIEF MKANAGER, RETAIL ASSET BRANCH THIRUVANANTHAPURAM, UNION BANK BHAVAN, M.G.ROAD, THIRUVANANTHAPURAM. 2. AUTHORISED OFFICER, UNION BANK BHAVAN, P.B.NO.307, M.G.ROAD, STATUE, THIRUVANANTHAPURAM. BY ADV. SRI.A.S.P.KURUP, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J ================== W.P(C)No.25807 of 2008 ================== Dated this the 27th day of August, 2008. J U D G M E N T The petitioner obtained a housing loan from the 1st respondent bank. The repayment of the monthly instalments fell in arrears. The bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 which is under challenge in this writ petition. However, the petitioner now wants only facility to regularise the account by paying off the instalments in arrears with permission to pay of the balance monthly instalments as per the loan agreement. This is opposed by the Standing Counsel for the bank which would submit that in spite of granting several opportunities the petitioner has not cared to regularise the loan account by paying the arrears if instalments. 2. Having heard both sides, I feel that the respondent can show some more leniency in the matter. Accordingly, I dispose of this writ petition with the following directions: The petitioner shall pay the entire outstanding arrears of instalments with interest and securitisation and other charges W.P(C)No.25807 of 2008 - 2 - within three weeks from today. On payment of the same the respondents shall regularise the loan account of the petitioner and permit him to continue paying the monthly instalments on the due dates as per the loan agreement. If the petitioner pays the amounts as directed above, further proceedings pursuant to the notice now issued shall be kept in abeyance. However, if the petitioner commits default in payment of the above amounts or any of the subsequent instalments as per the loan agreement, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. S.SIRI JAGAN, JUDGE rhs