IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 11TH JANUARY 2010 / 21TH POUSHA 1931 WP(C).No. 9661 of 2009(C) ------------------------- CMP.386/2009 of C.J.M.,KOLLAM .................... PETITIONER(S): --------------- 1. KRISHNA KUMARI,W/O.GOPALAN, LEKHA SADANAM,MAMPALLIKUNNAM,CHATHANOOR P.O., KOLLAM,NOW RESIDING AT KALLINTAZHIKATHU PUTHEN VEEDU,MAMPALLIKUNNAM,CHATHANOOR P.O., KOLLAM. 2. K.CHELLAMMA,D/O.PAPPU, LEKHAM VEEDU,SARANYA, MAMPALLIKUNNAM,CHATHANOOR P.O., KOLLAM. BY ADV. SRI.V.E.ABDUL GAFOOR SRI.A.MOHAMMED SAVAD RESPONDENT(S): --------------- THE AUTHORISED OFFICER, GENERAL MANAGER, THE QUILON CO-OPERATIVE URBAN BANK LTD.NO.960, KOLLAM. ADV. SRI.N.DHARMADAN, SENIOR ADVOCATE FOR R1 SMT.D.P.RENU FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 11/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 9661/2009 APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1 : TRUE COPY OF AFFIDAVIT FILED BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM BY THE RESPONDENT. EXHIBIT P2 : TRUE COPY OF NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN C.M.P. NO.386/2009. /TRUE COPY/ P.A. TO JUDGE. P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 9661 of 2009 ------------------------------------- Dated, this the 11th day of January, 2010 J U D G M E N T The petitioners are aggrieved of the steps taken by the respondent Bank invoking the provisions under the SARFAESI Act for realizing the amount due from them in respect of a loan transaction. It is stated that the petitioners are house wives and that every earnest effort is being made to see that the liability to the Bank is cleared at the earliest and alternate arrangements are being made to satisfy the same within a reasonable time. 2. The learned counsel appearing for the respondent Bank submits that the petitioners are Guarantors to the loan availed by one Rajani Radhakrishnan, creating security interest over the property in question. The borrower as well as the guarantors did not honour their commitment and in the said circumstance, the Bank was constrained to proceed with further steps invoking the provisions under the SARFAESI Act as borne by Ext.P1. It is also submitted from the part of the respondent that the idea of the petitioners is only protract things. 3. However, considering the particular facts and circumstances and the plight of the petitioners as described in the Writ WP(C) No.9661/2009 2 Petition, the petitioners are permitted to clear the entire outstanding liability, by way of 'eight' equal monthly instalments, the first of which shall be effected on or before the 15th of February, 2009, to be followed by similar instalments to be effected on or before the 15th of the succeeding months. It is made clear that, if any default is committed in satisfying the liability as above, the benefit granted by this judgment will stand recalled and the Bank will be at liberty to proceed with further steps for realisation of the amount in a lump sum. Subject to the above, further proceedings pursuant to Exts.P1 shall be kept in abeyance. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON JUDGE dnc