IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 11TH FEBRUARY 2009 / 22ND MAGHA 1930 WP(C).No. 4446 of 2009(D) ------------------------- CMP.5805/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- O. LATHIKA, T.C. 12/996, BARTON HILL, KUNNKUZHI.P.O, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.J.JAYAKUMAR RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, UNION BANK OF INDIA, MAIN BRANCH, M.G. ROAD, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, UNION BANK OF INDIA, MAIN BRANCH, M.G. ROAD, THIRUVANANTHAPURAM. BY SC SRI AS P KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 4446 OF 2009 ............................................ DATED THIS THE 11TH DAY OF FEBRUARY, 2009 JUDGMENT The petitioner, a last grade servant, has two cents of land. She mortgaged that and obtained a housing loan. Her husband is also a co-obligant. The outstandings accrued and the bank recalled the facility and initiated SARFAESI Act proceedings. The period of the loan is for 15 years. It was availed in the year, 2000. The monthly instalment was fixed at Rs.2000/-. Petitioner's son, is a BDS student. This is a fit case where the bank should consider regularisation of the transaction on payment of the defaulted instalments and accruals thereon, more particularly because in paragraph 5 of the writ petition, it is stated that the petitioner has made certain payments and also taking into consideration the attendant facts and circumstances. 2. For the aforesaid reasons, it is ordered that if the petitioner pays the entire outstandings with accruals thereon by 25th March, 2009, the bank will permit the petitioner to continue to enjoy the facility. Writ petition ordered accordingly. 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. Learned Chief Judicial WP(C) 4446/2009 2 Magistrate, on production of a copy of this judgment, will close the proceedings pending at that end under Section 14 of SARFAESI Act, preserving the right of the petitioner herein to move that action if necessary. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/16/2