IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 4TH MARCH 2009 / 13TH PHALGUNA 1930 WP(C).No. 5371 of 2009(N) ------------------------- CMP.3827/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- VIJAYARAJ V.M., A.P.XII/19, VELLARIKONATHU VEEDU, VELLARIKONAM, PANAVOOR, NEDUMANGAD, THIRUVANANTHAPURAM. BY ADV. SRI.R.V.SREEJITH RESPONDENT(S): --------------- HOUSING DEVELOPMENT FINANCE CORPORATION LTD., (HDFC), REPRESENTED BY ITS AUTHORISED OFFICER, SREEKUMARAN NAIR M.S), HDFC HOUSE, VAZHUTHACAUD, THIRUVANANTHAPURAM. BY SC SRI K K CHANDRAN PILLAI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 5371 OF 2009 ............................................ DATED THIS THE 4TH DAY OF MARCH, 2009 JUDGMENT The petitioner availed a housing loan from the respondent. On default in repayment, SARFAESI Act proceedings were initiated. The petitioner has since been dispossessed also, following the orders of the Chief Judicial Magistrate. On 24.2.2009, the creditor respondent was required to state whether the transaction could be regularised. Today, it is pointed out that after availing the loan in August 2006, no payments were made after November, 2006 and repeatedly even instalment cheques were dishonoured. Later, offering to regularise the transaction, the petitioner issued a cheque for Rs.70,000/-. That was also dishonoured. The respondent is, therefore, not inclined to regularise the transaction. I am sure that respondent cannot be compelled by this court to regularise the transaction. Under such circumstances, it is ordered that if the entire amounts are paid off in five equal monthly instalments payable on or before 28th of every month, commencing from April 2009, after making an WP(C) 5371/2009 2 initial deposit of Rs.1,50,000/- on or before 28.3.2009, further distress action including sale will be deferred and dropped. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and respondents will be at liberty to proceed with further action. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/5/3