IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR WEDNESDAY, THE 24TH AUGUST 2011 / 2ND BHADRA 1933 WP(C).No. 22648 of 2011(E) -------------------------- PETITIONER(S): --------------- SHEEBA A, AGED 42 YEARS, W/O.ABDUL RAHIM,THADAVILA VEEDU, CHERIKONAM, KANNANALLOOR P.O., THRIKKOVILVATTOM VILLAGE,KOLLAM BY ADV. SRI.BINU GEORGE SMT.HEMALATHA RESPONDENT(S): --------------- 1. THE CHIEF GENERAL MANAGER AND AUTHORIZED OFFICER, THE FEDERAL BANK LTD, REGIONAL OFFICER, THIRUVANANTHAPURAM-695001 2. THE BRANCH MANAGER, THE FEDERAL BANK LTD,KUREEPPALLY BRANCH, NEDUMPANA P.O.,KOLLAM-691576 ADV. SRI.A.ANTONY FOR R1 SMT.LEELAMMA ANTONY FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 24/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 22648 of 2011 APPENDIX PETITIONER'S EXTS: EXT.P1 TRUE COPY OF PASS BOOK ISSUED IN FAVOUR OF THE PETITIONER'S HUSBAND EXT.P2 TRUE COPY OF MEDICAL PRESCRIPTIONS DATED 11.7.2009, AND 01/09/2009 EXT.P3 TRUE COPY OF RENAL BIOPSY REPORT ISSUED FROM THE AMRITHA HOSPITAL, ERNAKULAM EXT.P4 TRUE COPY OF THE POSSESSION NOTICE DATED 01/09/2010 ISSUED TO THE PETITIONER. EXT.P5 TRUE COPY OF THE INTIMATION LETTER ISSUED TO THE PETITIONER'S HUSBAND BY THE SECOND RESPONDENT DATED 18/07/2011 EXT.P6 TRUE COPY OF THE NOTICE ISSUED BY THE COMMISSIONER TO THE PETITIONER DATED 25/07/2011. RESPONDENTS' EXTS: NIL \\TRUE COPY// P.A TO JUDGE T.R. RAMACHANDRAN NAIR, J. ~~~~~~~~~~~~~~~~~~~~~~~~~~~ W.P.(C). No.22648/2011-E ~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dated this the 24th day of August, 2011 J U D G M E N T Faced with the action under Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, in short the 'SARFAESI Act', the petitioner has approached this Court by filing this writ petition. It is a case where the petitioner availed a term loan from the Federal Bank, Kureeppally Branch to an extent of Rs.8,00,000/- for maintaining their home. The applicant is the petitioner's husband and the petitioner is the guarantor. The term of the loan is 10 years and it is pointed out that the instalments upto April, 2009 were paid. Thereafter, default occurred allegedly due to severe health problems of the husband of the petitioner who had to undergo bypass surgery in Ananthapuri Hospital at Thiruvananthapuram. 2. Ext.P4 is the copy of the possession notice issued to the petitioner. Thereafter, an intimation was given to the petitioner as per Ext.P5 dated W.P.(C). No.22648/2011 -:2:- 18/07/2011 wherein it is mentioned that an arrear of Rs.4,46,325.25 is remaining in the loan account as on that date. Ext.P6 is the notice issued by the Advocate Commissioner appointed in C.M.P.No.5389/2011 of the Chief Judicial Magistrate Court, Kollam wherein, the petitioner is informed to surrender the physical possession of the secured assets on or before 25/08/2011. 3. Heard the learned counsel for the petitioner and the learned counsel appearing for the Bank. 4. Learned counsel for the petitioner submitted that only because of the health problems of her husband, the instalments could not be paid in time. It is submitted that the proceedings under the SARFAESI Act will put the petitioner and the family in undue hardship. It is further assured that if some time is granted, the entire arrears can be paid so as to regularise the loan account. But, the learned counsel for the Bank submitted that the total defaulted arrears as on today will be Rs.4.85 lakhs. To close the entire W.P.(C). No.22648/2011 -:3:- loan account, the petitioner will have to remit an amount of Rs.12,00,000/- and above. 5. Since it is assured by the learned counsel for the petitioner that the defaulted amount will be paid if some time is granted to the petitioner, there will be a direction to the petitioner to remit an amount of Rs.4.25 lakhs within three months from today. The regular monthly instalments will also be remitted from time to time. 6. The petitioner will remit an amount of Rs.one lakh within a period of one month from today. If the entire amounts are not paid within three months period mentioned above, the Bank will be entitled to proceed in the matter. The proceedings before the Chief Judicial Magistrate Court, Kollam in C.M.P.No.5389/2011 will be adjourned for a period of four months. The writ petition is disposed of as above. No costs. Sd/- (T.R. Ramachandran Nair, Judge.) ms