IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 5TH DECEMBER 2008 / 14TH AGRAHAYANA 1930 WP(C).No. 35696 of 2008(Y) -------------------------------------- PETITIONERS: --------------------- 1. SMT. MEMA GILBERT, AGED 62 YEARS, W/O. LATE GILBERT, AKHILA COTTAGE, MANNATHALA, THIRUVANANTHAPURAM. 2. MR. JACKSON GILBERT, S/O. MEMA GILBERT, AKHILA COTTAGE, MANNATHALA, THIRUVANANTHAPURAM. BY ADV. SRI.P.V.ANIL, ADV. SRI.P.V.SREEDHARAN. RESPONDENTS: ----------------------- 1. THE AUTHORISED OFFICER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE, THIRUVANANTHAPURAM. 2. THE THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, VANCHIYOOR BRANCH, THIRUVANANTHAPURAM. R1 & R2 BY ADV. SRI. M.G. RADHAKRISHNAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/12/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.35696 of 2008-Y = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 5th day of December, 2008. JUDGMENT Petitioners availed a consumption loan in 2001 and created security interest over 7.5 cents of land. Faced with securitization proceedings under the SARFAESI Act, the petitioners entered into an agreement with one Rajendra Prasad on 20-8-2008 to sell the property so that the amounts can be paid off. However, after executing that agreement Ext.P5 on 20-8-2008, it appears that the first petitioner sustained injuries in a fall. Aged 62 years, she suffered intra capsular fracture neck of femur (right). The documents exhibited as Exts.P6, P7 etc. would show that she underwent certain procedures in the Department of Orthopaedics in the Medical College Hospital, Thiruvananthapuram and has been advised rest for a minimum period of eight months from 9-9-2008. The learned counsel for the bank submits that WP(C)35696/08 -: 2 :- amounts are outstanding and that proceedings were initiated because of default. It appears that Ext.P5 agreement for sale cannot, obviously, be given effect to without the junction of the bank. The petitioners are also not physically fit to be pressurized to close the transaction immediately. Under such circumstances, repelling all other contentions, this writ petition is ordered directing that the impugned distress action against the petitioners will stand deferred till the 25th of March, 2009 which will be five days after the period fixed in Ext.P5 agreement so that the petitioners can find ways and means either in terms of Ext.P5 or otherwise, to satisfy the entire outstandings. The bank will also consider any request of the petitioners for slashing the total outstandings, if found appropriate on such request. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/