IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 31ST OCTOBER 2008 / 9TH KARTHIKA 1930 WP(C).No. 31784 of 2008(H) -------------------------- PETITIONER(S): --------------- K.J.CHINNAMMA, PADASSERY HOUSE, VIII/92, FISHERIES ROAD, KANNAMALY, COCHIN. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- UCO BANK, AMARAVATHY BRANCH, REP. BY THE AUTHORISED OFFICER, AMARAVATHY, P.B.NO.53, FORT COCHIN, COCHIN. BY ADV.SRI.GEORGE K.VARGHESE, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.31784 OF 2008 ------------------------------------------- Dated this the 31st day of October, 2008 JUDGMENT The petitioner faces recovery proceedings under the SARFAESI Act as is evidenced by Ext.P2, whereby, a loan of Rs.6 lakhs is recalled with interest and Section 13 (2) notice was issued. This was followed by Ext.P4 notification for sale listed to 1.11.2008. While the petitioner states that it was a facility availed to finance a soda manufacturing unit, it appears to be not so. I have perused the photocopy of the loan application which the learned counsel for the bank has shown today. Learned counsel for the petitioner quite fairly states that her client may be excused from running the risk of payment of costs and may be granted an opportunity to wipe of the outstandings. The loan, going by the loan application, was availed under a shelter scheme of the UCO bank for extension of an existing house. The co-applicants are P.A.Justin and Augustine, who are stated to be the son and husband of the petitioner. The facility being only in the housing sector and because the petitioner has only about 6.5 WPC.31784/08 Page numbers cents of land in Kannamaly with a residential house, taking the case as an extraordinary situation, it is directed that if the entire outstandings are paid in six equal monthly instalments, payable on or before the 15th of every month commencing from November, 2008, distress action will be adjourned from time to time and ultimately dropped. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically and distress action shall follow. The writ petition is ordered accordingly. Having regard to the facts and circumstances, it is directed that no extension of time would be granted for payment of any of the instalments as fixed in this judgment. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.