IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 9TH FEBRUARY 2009 / 20TH MAGHA 1930 WP(C).No. 3939 of 2009(R) ------------------------- PETITIONER(S): --------------- BEN OLIVER, REETHA BHAVAN, T.C.NO.71/3002,VALIATHURA, THIRUVANANTHAPURAM. BY ADV. SRI.G.SUDHEER RESPONDENT(S): --------------- SOUTH INDIAN BANK LTD,REPRESENTED BY IT'S MANAGER, CHAKAI, THIRUVANANTHAPURAM. ADV. SRI.GEORGE VARGHESE,SC,SOUTH INDIAN BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 3939 OF 2009 ............................................ DATED THIS THE 9 TH DAY OF FEBRUARY, 2009 JUDGMENT Petitioner availed a fully secured loan of Rs.3,00,000/- from the respondent in April, 2004, agreeing to repay with interest @ 13% in 48 equated monthly instalments. Obviously, by this time, the loan period is ending. In December, 2005 the petitioner issued a cheque for Rs.75,000/- because of certain instalments, which were defaulted by then. But that cheque bounced. Ext.P4 notice was then issued to him in June, 2006. The account remains sticky. In May, 2005 the petitioner had certain coronary problems which led to an angioplasty. The petitioner has filed this writ petition on the allegation that he has been informed by the Manager through telephone that action has been taken against him. It is submitted by the learned counsel for the Bank that notice under Section 13(2) was served on the petitioner on 7.11.2006. Obviously, therefore the fact that petitioner has not been further proceeded against under Section 13(4) is due to the bank taking a benevolent attitude in view of the health situation of the petitioner. But with the passage of time, petitioner has to pay off the outstandings and clear the loan, since the bank cannot be compelled to indefinitely wait. The total outstandings as if now is around Rs.2,80,000/-. WP(C) 3939/2009 2 2. Taking the aforesaid into consideration and the submissions on behalf of the petitioner and those of the learned counsel for the bank, it is ordered that if the petitioner deposits @ Rs.1,00,000/- on or before 28.2.2009 and a further amount of Rs.50,000/- on or before 31.3.2009, and continues to remit @ Rs.40,000/- per month payable on or before the last working day of every month, commencing from April 2009, all distress action against the petitioner will stand deferred. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and respondent will be at liberty to proceed with further action. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/11/2