IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 21ST AUGUST 2008 / 30TH SRAVANA 1930 WP(C).No. 24631 of 2008(G) -------------------------- PETITIONER: ---------------- O.K.POCKER, VALIYADUTH HOUSE, IRINGATH P.O., KOYILANDY, KOZHIKODE DISTRICT. BY ADV. SRI.B.V.JOY SANKER RESPONDENTS: ------------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS REGIONAL MANAGER, REGIONAL BUSINESS OFFICE, KOZHIKODE-3. 2. AUTHORISED OFFICER, STATE BANK OF INDIA REGIONAL BUSINESS OFFICE, KOZHIKODE-3. 3. BRANCH MANAGER, STATE BANK OF INDIA, PERAMBRA, KOZHIKODE. BY ADV. SRI.K.JAYAKUMAR FOR R SRI. P.V. SURENDRANATH -SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ------------------------------------ W.P.(C)No.24631 OF 2008 ---------------------------------------- Dated this the 21st day of August, 2008 JUDGMENT The petitioner is a defaulter in repayment of loan amounts due from him to the respondents. The petitioner submits that the loan is a house building loan and the petitioner may be permitted to regularise the loan account by paying the defaulted instalments and he may be allowed to continue payment of the regular instalments in accordance with the loan agreement. 2. This is opposed by the learned counsel for the respondents, who would submit that the petitioner has not paid any amount in repayment of the loan amounts and as such he is not entitled to any reliefs in the matter. 3. After hearing both sides, I feel that the petitioner can be given another opportunity to regularise the loan account and continue to pay the future instalments as per the loan agreement without default. Accordingly, the writ petition is disposed of with the following directions: W.P.(c)No.24631/08 2 The petitioner shall pay an amount of Rs.1,50,000/- (Rupees One lakh fifty thousand only) before 10th September 2008. On such payment, the respondents shall regularise the petitioner's loan account and allow the petitioner to pay off the future instalments in accordance with the loan agreement. If the petitioner remits the Rs.1,50,000/- and the future instalments on the due dates as per the loan agreement, further proceedings under the Act shall be kept in abeyance. However, if the petitioner fails to pay the Rs.1,50,000/- and any of the future instalments, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. S. SIRI JAGAN, JUDGE Acd W.P.(c)No.24631/08 3