IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 28TH AUGUST 2009 / 6TH BHADRA 1931 WP(C).No. 23175 of 2009(N) -------------------------- PETITIONER --------------- SHANIBA, W/O.NASEEM.K.A, KARNAMKOTTU HOUSE, CHOWALLUR P.O., KANDANASSERY. BY ADV. SRI.K.I.SAGEER RESPONDENTS: --------------- 1. SYNDICATE BANK, REPRESENTED BY ITS CHIEF MANAGER, REGIONAL OFFICE, ERNAKULAM. 2. AUTHORISED OFFICER/CHIEF MANAGER, SYNDICATE BANK, REGIONAL OFFICE, SHANMUGHAM ROAD, ERNAKULAM. 3. THE BRANCH MANAGER, SYNDICATE BANK, GURUVAYOOR. BY ADV. MR. R.S. KALKURA, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 23175 OF 2009 ......................................................................... Dated this the 28th August, 2009 J U D G M E N T The petitioner has approached this Court seeking to interfere with the coercive steps stated as being pursed by the Bank invoking the relevant provisions under the SARFAESI Act, when the petitioner's husband, who had availed a housing loan from the respondent Bank turned to be a defaulter. 2. The case of the petitioner is that she is ready to clear the entire overdue amount, to have the loan account regularised; and that appropriate arrangements are being made in this regard, as instructed by her husband, who is presently working abroad. 3. Heard the learned Standing Counsel for the respondent Bank as well, who, submits on instruction that, as on date, a sum of Rs. 1.8 lakhs with interest and cost is due towards the defaulted E.M.Is itself and unless and until this amount is cleared, there is no question of regularisation at all. 4. It is brought to the notice of this Court that even though the petitioner is neither the borrower nor a guarantor, she had approached W.P.(C) No. 23175 OF 2009 2 the Bank with earnest effort to explore the possibility of settling the due amount. In the above circumstances, the petitioner is directed to satisfy the over due amount of Rs.1.8 lakhs with interest and cost, as agreed, by way of three equal monthly installments, the first of which shall be paid on or before the 20th of September, 2009; to be followed by the remaining installments to be effected on or before the 20th of the succeeding months. On satisfying the requirements as above, the loan account will stand regularised. This will be in addition to the liability of the borrower to satisfy the regular monthly installments as well. It is made clear that if any default is committed in satisfying the liability as above, the Bank will be free to proceed with further steps from the stage where it stands now, for realisation of the entire amount in a lump sum. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk