IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 12TH NOVEMBER 2008 / 21ST KARTHIKA 1930 WP(C).No. 32898 of 2008(N) -------------------------- PETITIONER: --------------- VIKRAMAKURUP, THOTTAKONAM MURI, MUDIYOORKONAM P.O., PANDALAM, PATHANAMTHITTA DISTRICT. BY ADV. SRI.C.B.SREEKUMAR RESPONDENTS: --------------- 1. THE CHIEF MANAGER/AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, PANDALAM BRANCH. 2. THE ADDITIONAL GENERAL MANAGER, STATE BANK OF TRAVANCORE, ZONAL OFFIE, KOTTAYAM. 3. THE GENERAL MANAGER, STATE BANK OF TRAVNAOCRE, REGIONAL OFFICE, THIRUVANANTAURAM. BY ADV. SRI. SAJI VARGHESE, SC FOR R1 TO R3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO.32898 OF 2008 (N) ------------------------------------------------------ Dated this the 12th day of November, 2008 J U D G M E N T The petitioner availed a housing loan in 2004. Nothing was paid till the end of 2007. He paid ten instalments in 2008. Obviously, there is default and the account classified as NPA. SARFAESI Act proceedings is, therefore, with jurisdiction. There is no legal infirmity in it. The payments made after 2007 may not itself turn the matter in favour of the petitioner. However, the petitioner's anxiety to repay the loan has received the benevolent consideration of the bank, which states that, as of now, if an amount of Rs.1,30,000/- is remitted, the petitioner is permitted to regularise the transaction and to continue the transaction in terms of the original agreement. This is the best that the petitioner can hope for. Under such circumstances, repelling all other contentions and foreclosing the right to move before any statutory authority including DRT for relief, this writ petition is ordered directing that if the petitioner remits an amount of Rs.1,30,000/-, within a period of three weeks, the bank will W.P.(C) No.32898/2008 - 2 - consider regularising the transaction as aforesaid. The time limit fixed as aforesaid shall be treated as peremptory. If there is failure on the part of the petitioner to enjoy this benefit, the bank will be entitled to forthwith proceed with further distress action. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/12/12 // True copy // P.A. to Judge.