IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN TUESDAY, THE 25TH OCTOBER 2011 / 3RD KARTHIKA 1933 WA.No. 1421 of 2011() --------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.7248/2011 Dated 05/07/2011 .................... APPELLANT(S): / PETITIONERS -------------- 1. SALEENA BEEVI W/O SAINULABDEEN, SABEEL MANZIL, CHERUVELI, CHULLIMANOOR P.O, NEDUMANGAD, THIRUVANANTHAPURAM, PERMANENTLY RESIDING AT THINAVILA VEEDU, PERUMKOOR, KONCHIRA P.O, VEMBAYAM, TRIVANDRUM. 2. SAINULABDEEN, S/O JAMAL MUHAMMAD, SABEEL MANZIL, CHERUVELI, CHULLIMANOOR P.O, NEDUMANGAD,, THIRUVANANTHAPURAM, PERMANENTLY RESIDING AT THINAVILA VEEDU, PERUMKOOR, KONCHIRA P.O, VEMBAYAM, TRIVANDRUM REPRESENTED BY HIS WIFE AND POWER OF ATTORNEY HOLDER SALEENA BEEVI. BY ADV. SRI.THOMAS ABRAHAM SMT.MERCIAMMA MATHEW SRI.K.S.HARIDAS SRI.V.RENJITH KUMAR RESPONDENT(S): / RESPONDENTS --------------- 1. FEDERAL BANK, NANTHANCODE BRANCH, TRIVANDRUM REPRESENTED BY ITS BRANCH MANAGER. 2. BRANCH MANAGER, FEDERAL BANK, NANTHANCODE BRANCH, TRIVANDRUM. 3. CHIEF MANAGER/AUTHORISED OFFICER, FEDERAL BANK, NANTHANCODE BRANCH, TRIVANDRUM. 4. REGIONAL MANAGER, RESERVE BANK OF INDIA, KOCHI. BY ADV.MR.A.ANTONY, FOR FEDERAL BANK THIS WRIT APPEAL HAVING BEEN COME UP FOR ADMISSION ON 25/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.A.NO.1421/2011 APPENDIX APPELLANT'S EXHIBITS ANNEXURE-1 : COPY OF ORDER DATED 04/04/2011 IN WP(C) NO.7248/2011. ANNEXURE-2 : COPY OF ORDER DATED 15/06/2011 IN WP(C) NO.7248/2011. ANNEXURE-3 : COPY OF ORDER DATED 30/05/2011 IN I.A.NO.7679/2011 IN WP (C) NO.7248/2011. //TRUE COPY// PA TO JUDGE. jg C.N.RAMACHANDRAN NAIR, Ag.CJ. & P.S.GOPINATHAN, J. .................................................................... W.A. No.1421 of 2011 .................................................................... Dated this the 25th day of October, 2011. J U D G M E N T Ramachandran Nair, Ag.CJ. Heard learned counsel for the appellants and learned Standing Counsel for the 1st respondent Bank. 2. Prayer is only for granting further three months' time for settlement of liability. This is opposed by respondent's counsel by stating that the loan ought to have been repaid in 2007 itself. 3. After hearing both sides what we notice is that the appellants have paid a total amount of Rs.1.40 crores towards the loan and interest and the balance as on today is only Rs.72.50 lakhs. Since the loan is secured on property and the appellants are not contesting liability and having regard to the amount involved, at least two months' time can be granted to the appellants to settle the liability with direction to the Bank to waive penal interest, if liability is settled within two months W.A.No.1421/2011 2 from today, and there will be direction to that effect. However, if there is still breach, then the waiver of penal interest granted by us will stand automatically vacated and the Bank should proceed for recovery of the entire amount after two months from now. There will also be a direction to the appellants not to encumber, sell or part with possession of the mortgaged property until arrears due to the Bank are cleared. The payment should be made on or before 25/12/2011. All coercive steps for recovery should be kept in abeyance till 25/12/2011 for settlement of liability as above. This Writ Appeal is accordingly disposed of modifying the judgment of the learned Single Judge as above. (C.N.RAMACHANDRAN NAIR, ACTING CHIEF JUSTICE) (P.S.GOPINATHAN, JUDGE) jg