IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 11TH AUGUST 2009 / 20TH SRAVANA 1931 WP(C).No. 22150 of 2009(K) ------------------------------------ PETITIONER(S): ------------------------- SHAILAJA Y.,SINDHOORI, THEKKEVILA P.O. KOLLAM. BY ADV. MR.D.KISHORE RESPONDENT(S): ------------------------- 1. STATE BANK OF INDIA, RASMECCC,2ND FLOOR, RAVI'S ARCADE, NEAR IRON BRIDGE, KOLLAM 691013, REPRESENTED BY ITS ASSISTANT GENERAL MANAGER. 2. THE ASSISTANT GENERAL MANAGER, STATE BANK OF INDIA RASMECCC,2ND FLOOR RAVI'S ARCADE, NEAR IRON BRIDGE KOLLAM -691013 BY MR.P.V.SURENDRANATH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 22150 OF 2009 ......................................................................... Dated this the 11th August, 2009 J U D G M E N T The petitioner had availed a sum of Rs. two lakhs as housing loan from the respondent Bank . However, she could not effect repayment on time as scheduled, because of some frustrating pecuniary circumstances. In view of the default committed by the borrower, the respondent Bank proceeded with coercive steps, invoking the relevant provisions under the SARFAESI Act, which is sought to be intercepted in the present Writ Petition. 2. The learned Counsel for the petitioner submits that the default was never wilful, but only because of some unforeseen adverse circumstances. It is also brought to the notice of this Court that the husband of the petitioner was also got superannuated from the service on 30th November, 2008, but the retirement benefits payable to him, which comes to a sum of more than Rs. 2.35 lakhs is yet to be disbursed. 3. The learned Counsel for the respondent Bank submits that the husband of the petitioner has also filed a Writ Petition W.P.(C) No. 22150 OF 2009 2 before this Court for disbursement of the terminal benefits and that the matter is still pending. Disbursement of terminal benefits in the K.S.R.T.C., is subject to the decision rendered by a Division Bench of this Court and later confirmed by the Apex Court, holding that the same shall be effected only on the basis of the priority and from the separate fund constituted in this regard, providing an allocable extent to the specified percentage. Of course, exception is also given in exceptional circumstances because of intervention of this Court, considering the exigencies such as marriage of daughter, unavoidable treatment expenses etc. Since the petitioner does not have any claim that her husband comes within any of such categories, there is no chance for any 'out of turn payment' in this regard. 4. The learned Counsel for the petitioner submits that the petitioner as well as her husband, who is also a guarantor to the loan transaction, are very much ready and willing to clear the entire liability immediately on receipt of the terminal benefits from the K.S.R.T.C. The learned Counsel also submits that the petitioner is earnestly trying to find out some other source, intending to wipe out the entire liability by way of reasonable W.P.(C) No. 22150 OF 2009 3 installments to be effected at the rate of Rs.Fifty Thousand per month. 5. Considering the facts and circumstances, the petitioner is permitted to clear the liability as above, by remitting Rs.50,000/- every month, till the entire liability with interest and such other incidental expenses is wiped out. The first payment as above shall be effected on or before the 30th of this month, to be followed by similar installments to be effected on or before the 30th of the succeeding moths. Subject to the above, recovery steps stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that if the petitioner commits any default in effecting the payment as above, the respondent Bank will be at liberty to proceed with further steps from the stage where it stands now, for realisation of the entire liability with interest and cost in a lump sum. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk