IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR MONDAY, THE 22ND JANUARY 2007 / 2ND MAGHA 1928 WP(C).No. 284 of 2007(H) ------------------------------------------ PETITIONER: --------------------- SANTHAMMA, W/O.PADMANABHAN, AGED 55, NARANATHU HOUSE, (FROM MALICHIRA), THURAVOOR SOUTH VILLAGE, VALAMANGALAM, THURAVOOR P.O., CHERTHALA TALUK, ALAPPUZHA DISTRICT. BY ADV. DR.V.N.SANKARJEE SRI.V.N.MADHUSUDANAN SMT.R.UDAYA JYOTHI SRI.M.R.VINOD RESPONDENTS: ------------------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS AUTHORISED OFFICER (CHIEF MANAGER), STATE BANK OF INDIA, ZONAL OFFICE, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, STATE BANK OF INDIA, KUTHIYATHODE, CHERTHALA TALUK, ALAPPUZHA DISTRICT. BY STANDING COUNSEL SRI.P.V.SURENDRANATH. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/01/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR, J. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)NO.284 OF 2007 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of January 2007 JUDGMENT Petitioner is challenging securitisation proceedings on the ground that land covered is an agricultural land against which proceedings under the act will not lie by virtue of Section 31(i) of the Securitisation Act. It is conceded that suit filed by the Bank is decreed and E.P. is pending. I do not think there is any need to go into the question as to whether the land is an agricultural land or not because in any case the execution court is free to sell the property whether agricultural land or not and recover the arrears. However, counsel for the petitioner submitted that petitioner will make all efforts to settle liability within a reasonable time either by sale of mortgaged property or any part thereof. 2. Considering request of the petitioner, I dispose of the writ petition granting time to petitioner till 30th April 2007 to settle liability. If liability is settled by petitioner making payment voluntarily, there will be direction to the Bank to waive complete penal interest and other default charges on petitioner W.P.(C)NO.284 OF 2007 2 remitting the balance loan amount at agreed rate of interest before 30th April 2007. If petitioner fails to settle liability, then petitioner will forfeit incentives granted as above and there will be a direction to execution court to notify property for sale immediately on any day after 30th April 2007 and sell the property in execution proceedings and complete the execution proceedings within two months thereafter. Writ petition is disposed of as above. C.N.RAMACHANDRAN NAIR, JUDGE jes