IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 11TH NOVEMBER 2010 / 20TH KARTHIKA 1932 WP(C).No. 33782 of 2010(W) --------------------------------------- PETITIONER: ------------------- BIJUMON.K.S., AGED 33 YEARS, S/O.SREEDHARAN, KUNNUMMEL, THANNEERMUKKOM.P.O., CHERTHALA. BY ADV. SRI.K.C.SUDHEER. RESPONDENTS: ------------------------ 1. FEDERAL BANK, BRANCH OFFICE AT PUTHANANGADI, ALAPPUZHA, THANNEERMUKKOM ROAD, CHERTHALA TALUK, REP.BY ITS MANAGER. 2. REGIONAL OFFICER, FEDERAL BANK, RAJESWARI COMPLEX, CHURCH ROAD, ALAPPUZHA, REP.BY ITS CHIEF MANAGER. R1 & R2 BY SRI. GEORGE VARGHESE MANACHIRAKKAL. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/11/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. C. K. ABDUL REHIM, J. =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= W.P.(C) No. 33782 of 2010 =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= Dated this the 11th day of November, 2010 JUDGMENT Pursuant to steps initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act'), the petitioner was evicted from the residential house situated in the property, which was mortgaged in order to secure the loan availed from the respondents. 2. According to the petitioner, repayment period of the loan is 60 months, which will expire only in August, 2011. It is stated that inspite of approaches made offering remittance of a sum of Rs.40,000/-, which, according to the petitioner, represents the defaulted amount, the respondents have not accepted the same, but proceeded with coercive steps. It is stated that the petitioner as well as his aged parents are now thrown out from the residential house and they have no other place to reside. Hence the WPC 33782/2010 2 petitioner is seeking direction from this court to restrain further steps for sale of the property and to permit re- occupation of the residential house on payment of arrears outstanding. 3. Learned counsel appearing for the respondents, on the basis of instructions submitted that, the total amount outstanding is more than 1.85 lakhs. It is also submitted that there was chronic default and the loan account in question was remaining as NPA for quite a long time. 4. It is noticed that the petitioner had not availed any of the statutory remedies, at any stage of the proceedings before he was dispossessed. Learned counsel for the petitioner submitted that the petitioner is not intending to pursue any statutory remedies and that he is relinquishing all challenges against the proceedings. The limited prayer is only for permitting re-occupation in the house on payment of the defaulted arrears. 5. Considering the fact that the proceedings under the SARFAESI Act is at its fag end, I am not inclined to WPC 33782/2010 3 permit regularization of the account. On the other hand, I am of the opinion that indulgence can be shown in permitting the petitioner to pay off the entire liability in a phased manner, within a short period, especially in view of the fact that the petitioner is relinquishing all challenges. 6. Therefore, the writ petition is disposed of directing the respondents to keep in abeyance further proceedings for sale of the secured assets, on condition of the petitioner remitting the entire balance outstanding, including interest if any due, in 3 (three) equal monthly instalments, falling due on or before 30-11-2010 and on or before the last day of the two succeeding months. 7. On payment of the 1st instalment as directed above, the respondents shall permit the petitioner to re-occupy the building situated in the secured asset for the sole purpose of residence of himself and his family members, subject to legal possession being retained with the respondents. The petitioner will submit an undertaking in the form of an affidavit before the 2nd respondent to the effect that if there WPC 33782/2010 4 is any failure in clearing payment of the entire balance, he will vacate the premises without raising any dispute. 8. It is also made clear that on the event of any default in payment of any of the instalments, the respondents will be free to evict the petitioner without recourse to any legal steps, if necessary with assistance of police authorities having jurisdiction in the local area. 9. The relief granted as above is subject to the condition that the petitioner is precluded from raising any subsequent challenge against the proceedings. C. K. ABDUL REHIM, JUDGE. mn.