IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 8TH APRIL 2010 / 18TH CHAITHRA 1932 WP(C).No. 5407 of 2010(A) ------------------------- CRMP.588/2010 of CHIEF JUDL.MAGISTRATE, ERNAKULAM .................... PETITIONER(S): --------------- 1. SULEKHA T.A., 23/576 A, VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI-6. 2. V.H.MOHAMMED RAFEEQUE, 23/576 A, VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI-6. ADDLP3. V.M.RINEESH, S/O.LATE V.H.M.RAFEEQUE AGED 27 YEARS, VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI - 6. 4. RESHMA, AGED 25 YEARS ,D/O.LATE V.H.M.RAFEEQUE VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI - 6 5. ROSHNI, D/O.LATE V.H.M.RAFEEQUE AGED 28 YEARS, VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI – 6 6. RINCY, D/O.LATE V.H.M.RAFEEQUE AGED 27 YEARS, VALIYAPARAMBIL HOUSE, MADHURA COMPANY ROAD, PALLURUTHY, KOCHI – 6 (ADDL.PETITIONERS 2 TO 6 ARE IMPLEADED AS PER ORDER IN I.A. NO.5256/2010 DATED 8/4/2010) BY ADV. SRI.N.C.SAJITH SRI.DILISH JOHN SMT.T.J.MARIA GORETTI SMT.T.V.SHELJA RESPONDENT(S): --------------- 1. STATE OF KERALA, REPRESENTED BY GOVERNMENT PLEADER, HIGH COURT OF KERALA. 2. HOUSING DEVELOPMENT FINANCE CORPORATION LTD., H.D.F.C.HOUSE, P.O.NO.1667, RAVIPURAM JUNCTION, M.G.ROAD, ERNAKULAM. ADV. SRI.K.K.CHANDRAN PILLAI FOR R2 BY G.P. SRI.BIJOY CHANDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ------------------------ W.P.(C)No. 5407 OF 2010 ------------------------ Dated this the 8th day of April, 2010 JUDGMENT The first petitioner along with the deceased second petitioner, who is none other than the husband of the first petitioner, borrowed a sum of Rs.10,00,000/- from the 2nd respondent bank, which however was not repaid on time, whereby coercive steps under the SARFAISI Act have been initiated and possession of the concerned premises, over which the security interest has been created, has been taken over by the bank. 2. The learned standing counsel for the bank submits on instructions that, despite several notices issued, the first petitioner, who was residing elsewhere ,did not choose to honour the commitment and that absolutely no indulgence is warranted. The learned counsel further submits that as on 28/2/2010, a sum of nearly 7,48,730/- is due from the petitioners. 3. The learned counsel for the petitioners submits that the first petitioner is ready and willing to satisfy the entire debt provided some breathing time is given. WPC NO. 5407/2010 -2- 4. After hearing both sides, this Court finds it fit and proper to dispose of the matter in view of the submission made from the part of the petitioners that they do not intend to challenge the sustainability of the steps taken by the bank by approaching the DRT and that the first petitioner is ready and willing to clear the entire liability within the shortest possible time. 5. In the above facts and circumstances, the first petitioner is directed to clear the entire outstanding liability either in lump sum or by way of 'four' equal monthly instalments, the first of which shall be effected on or before 30/4/2010 and the remaining instalments shall be effected on or before the 30th of the succeeding months. On satisfaction of the liability, the possession over the building/property as well as the title deeds shall be handed over to the party concerned. So as to enable the first petitioner to clear the liability as above, all further steps taken by the Bank shall be kept in abeyance till the expiry of the above said period. 6. It is also made clear that, if any default is committed by the petitioners in complying with the above directions, the WPC NO. 5407/2010 -3- respondent bank will be at liberty to proceed with further steps for realisation of the due amount from the petitioners by invoking the remedy available under the Act. The Writ Petition is disposed of as above. P.R.RAMACHANDRA MENON, JUDGE. dpk