IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH TUESDAY, THE 3RD MARCH 2009 / 12TH PHALGUNA 1930 WP(C).No. 6723 of 2009(I) ------------------------- PETITIONER(S): ---------------------- R.NAVEEN, S/O.RATHEENDRAN, 'VANDANA', PATTATHUVILA, NTR NAGAR-115, KADAPPAKKADA P.O., KOLLAM-691008. BY ADV. SRI.C.R.SIVAKUMAR RESPONDENT(S): ------------------------ 1. THE AUTHORISED OFFICER, INDIAN BANK, POLAYATHODU, KOLLAM DISTRICT. 2. THE BRANCH MANAGER, INDIAN BANK, POLAYATHODU, KOLLAM DISTRICT. BY ADV. SHRI S. EASWARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. M. JOSEPH, J. -------------------------------------- W.P.C. NO. 6723 OF 2009 I -------------------------------------- Dated this the 3rd March, 2009 JUDGMENT Petitioner availed a housing loan. For recovery of the same, Ext.P1 is issued, which is a sale notice. 2. I heard the learned counsel for the petitioner and Shri S. Easwaran, learned standing counsel appearing on behalf of the respondent Bank. The only prayer is that the petitioner may be permitted to pay off the amount in five instalments. Of course, the learned standing counsel opposes the grant of instalment facility. I feel that it will be in the interest of justice that the petitioner is given some time to pay off the amount, provided the petitioner pays Rs.1,50,000/=(Rupees One Lakh & Fifty Thousand) before the time of sale. Accordingly, the Writ Petition is disposed of as follows: Recovery proceedings pursuant to Ext.P1 will be kept in W.P.C.6723/09 I :: 2 :: abeyance provided the petitioner pays Rs.1,50,000/= (Rupees One Lakh & Fifty Thousand) before the time of sale and pays off the balance amount remaining to be paid with due interest in four equal monthly instalments, the first of which shall be payable on or before 10.04.2009 and the remaining instalments on or before the tenth of every succeeding month. Needless to say, if the petitioner does not pay either Rs.1,50,000/= or any of the instalments as aforesaid, recovery proceedings can go on in accordance with law. If the petitioner pays Rs.1,50,000/=, the respondent Bank will intimate the petitioner the balance amount due and also the exact amount of instalments to be paid by the petitioner in terms of this Judgment within a week thereafter. Sd/= K. M. JOSEPH, JUDGE kbk. // True Copy // PS to Judge