IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.P.R.RAMAN & THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR WEDNESDAY, THE 17TH FEBRUARY 2010 / 28TH MAGHA 1931 WA.No. 266 of 2010() -------------------- AGAINST THE JUDGEMENT IN WPC.2198/2009 Dated 28/01/2010 .................... APPELLANT(S): PETITIONERS --------------------- 1. S.BALASUBRAMANIAN,S/O.SUBRAMANYA IYER, 6/17 LAKSHMY BHAVAN,MAIN ROAD, NORTH PARAVUR. 2. MRS.M.S.PRASANNA,W/O.S.BALASUBRAMANIAN, 6/17 LAKSHMY BHAVAN,MAIN ROAD,NORTH PARAVUR. BY ADV. SRI.P.R.VENKETESH SRI.P.C.CHACKO(PARATHANAM) SRI.P.R.RAJA SMT.ASHA CHACKO RESPONDENT(S): RESPONDENTS ----------------------- 1. BRANCH MANAGER,PUNJAB & SIND BANK, M.G.ROAD,ERNAKULAM. 2. AUTHORISED OFFICER,PUNJAB AND SIND BANK, ZONAL OFFICE,CHENNAI. BY ADV. SRI.SAJI MATHEW , SC FOR BANK. . THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 17/02/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMAN, Ag.C.J. & C.N.RAMACHANDRAN NAIR, J. ------------------------------- W.A.No.266 OF 2010 ------------------------------- Dated this the 17th day of February, 2010 J U D G M E N T Ramachandran Nair, J. Heard learned counsel for the appellants as also learned Standing Counsel appearing for the respondents, Bank. 2. Admittedly appellants are in arrears of loan taken from the respondent-Bank. When revenue recovery proceedings was challenged, learned Single Judge granted six equal monthly instalments to clear the arrears, which is stated to be around Rs.15 lakhs as of now. 3. We feel, since appellants are not earning substantial income on monthly basis, appellants obviously cannot comply with the judgment under which monthly payment will be above Rs.2 lakhs. Counsel for the appellants rightly pointed out their inability to settle liability in instalments, and therefore, 2 seeks facility to clear the arrears in lump. Even though counsel has prayed for six months time to settle the liability, we feel, only a reasonable time can be granted which we fix as four months. Writ Appeal is allowed modifying the judgment of the learned Single Judge by granting four months time and directing the respondents to withhold all recovery proceedings for a period of four months from now, within which time, the appellants will settle the entire liability, by liquidation of assets or otherwise. Further, we make it clear that if the liability is not settled within four months, the respondents will be free to take over the mortgaged assets without any delay and proceed to sell the same in recovery proceedings. P.R.RAMAN, Ag. CHIEF JUSTICE C.N.RAMACHANDRAN NAIR, JUDGE nj. 3