IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 31ST OCTOBER 2008 / 9TH KARTHIKA 1930 WP(C).No. 31541 of 2008(E) -------------------------- PETITIONER(S): --------------- R.USHA, D/O.RUGMINI, R.K.MANDIRAM, ANTHIYOORKONAM, KALLODE P.O., THIRUVANANTHAPURAM DISTRICT BY ADV. SRI.R.T.PRADEEP SRI.V.VIJULAL RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LIMITED, THIRUVANANTHAPURAM REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM 695 001. 2. THE BRANCH MANAGER, THE KERALA STATE CO-OPERATIVE BANK LIMITED, KARAMANA BRANCH, KARAMANA, THIRUVANANTHAPURAM. BY ADV.SRI.NAGARAJ NARAYANAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.31541 OF 2008 ------------------------------------------- Dated this the 31st day of October, 2008 JUDGMENT The petitioner borrowed an amount as housing loan from the respondents. On default in repayment, the security interest has been proceeded against under the provisions of the SARFAESI Act. An amount of Rs.3.5 lakhs was the principal amount. On classification as NPA on 31.10.2007, the amount due was Rs.8,70,203/-. Ext.P1 notice under Section 13 (2) was issued on 7.2.2008. More than 8 months have gone through thereafter. Even now, no proper payment has been made. These facts apparently show that the respondents have been quite considerate and have only now proceeded to invite tenders from public, for sale to enable recovery. The sale is posted to 10.11.2008. The transaction is not disputed. Arrears have accrued. The classification is not questioned. The proceedings are, therefore, within the bounds of law and jurisdiction. The challenge to the proceedings therefore fails. However, the petitioner appears to state that certain credits have not been WPC.31541/08 Page numbers properly entered and the total outstandings may be lesser. But that by itself is no ground to further stall the recovery proceedings, unless the petitioner starts paying to have the situation recouped. Taking into consideration the entire circumstances, repelling all other contentions and foreclosing the petitioner's right to move the Debts Recovery Tribunal or any other authority challenging the impugned proceedings, she having invoked writ jurisdiction, this writ petition is ordered directing that if an amount of Rs.2.5 lakhs is paid at or before the time fixed for sale, the sale shall be adjourned by three months to enable the petitioner a last opportunity to pay off the entire remaining portion within that time frame. If there is failure to pay that amount or to wipe off the entire amounts as aforesaid, the respondents will be entitled to further proceed with action and dispossess the petitioner in accordance with law, without any further notice. It is clarified that this judgment will not stand in the way of the petitioner prosecuting any request before the WPC.31541/08 Page numbers bank to reduce the total outstanding or to consider the applicability of One Time Settlement scheme or other favourable provisions, if there is any, available and applicable. However, any delay on the part of the petitioner in that regard will not affect the payment schedule as afore directed. If there is any request made by the petitioner, the bank will expedite consideration of the same. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.