IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI FRIDAY, THE 5TH JUNE 2009 / 15TH JYAISHTA 1931 WP(C).No. 6676 of 2009(D) ------------------------- PETITIONER: --------------- GOPINATHAN K, KARALATH HOUSE, VIYYOOR P.O., THRISSUR -10. BY ADV. SRI.P.BHASKARAN RESPONDENTS: --------------- 1. CAN FIN HOMES LTD., (CFHL 21/1 IST FLOOR SR. M.N. KRISHNARAO ROAD, BASAVANAQUDI, BANGALORE 560 004) REPRESENTED BY ITS AUTHORIZED OFFICER. 2. THE MANAGER, CAN FIN HOMES LTD., THRISSUR BRANCH IST FLOOR MARVA ARCADE, MACHINGAL LANE, M.G. ROAD, THRISSUR 680 001. ADV. SRI.P.JACOB VARGHESE, SENIOR ADVOCATE FOR R1-2 SRI.VIVEK VARGHESE P.J. FOR R1-2 SRI.P.J.VINOD JOSEPH FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI,J. ------------------------- W.P ( C) No. 6676 of 2009 -------------------------- Dated this the 5th June,2009 J U D G M E N T Petitioner borrowed an amount of Rs.1,50,000/- from the 1st respondent by way of housing loan. EMI was fixed at Rs.2977/-. There was default in repayment of the same. Bank initiated steps under the Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002 and Exhibit-P1 notice has been issued. According to the petitioner, he is willing to remit the entire amount due to the Bank provided he is given the benefit of One Time Settlement Scheme. Though OTS was offered to the petitioner, he could not avail the same. Now since the Bank has issued a notice under the Securitisation Act, it is up to the petitioner to avail the remedy available under the statute in relation to the proceedings under the Securitisation Act. In the meanwhile, the Bank shall give a reply to the petitioner indicating whether it is willing to accept the entire W.P ( C) No. 6676 of 2009 2 amount for the purpose of closure of the loan. If it is not willing to do so, reason in respect of the same also should be indicated in the reply to be furnished to the petitioner by the Bank. The Bank shall also in the course of giving a reply as mentioned above furnish to the petitioner true and correct statement relating to the petitioner’s account. The writ petition is disposed of as above. (V.GIRI,JUDGE) ma W.P ( C) No. 6676 of 2009 3 W.P ( C) No. 6676 of 2009 4