IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 29TH MAY 2009 / 8TH JYAISHTA 1931 WP(C).No. 13626 of 2009(W) -------------------------- PETITIONER: --------------- M.N.PARAMESWARAN, S/O.NARAYANAN, AGED 55 YEARS, MANIKKATH HOUSE, PERUVALLUR P.O., THRISSUR DISTRICT. BY ADV. SRI.P.RAMACHANDRAN RESPONDENT: ------------------- AUTHORIZED OFFICER, INDIAN BANK, CIRCLE OFFICE, CHITTOOR ROAD, ERNAKULAM. BY ADV. MR. S. EASWARAN, SC, INDIAN BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 13626 OF 2009 ......................................................................... Dated this the 29th May, 2009 J U D G M E N T The petitioner had availed a sum of Rs. Two lakhs as housing loan from the respondent Bank, who turned to be a defaulter in remitting the periodical instalments , which made the respondent-Bank to resort to appropriate steps under the relevant provisions of the SARFAESI Act, which in turn has been subjected to challenge in the present Writ Petition. 2. Heard the learned counsel for the respondent Bank as well. 3. The learned counsel for the petitioner submits that the default occurred was not because of any deliberate negligence, but because of some unforeseen circumstances, which have not been properly considered by the respondent-Bank, despite bringing it into the notice of the authorities. To prove the bonafides of the petitioner, the learned counsel for the petitioner submits that even before approaching this Court, he had effected remittance of Rs.20,000/- on 22.04.2009, as borne by Ext.P2 W.P.(C) No. 13626 OF 2009 2 and yet another sum of Rs.8,000/-. The learned counsel for the Bank submits that the said amounts have, of course, been credited to and that further proceedings are being taken only for realisation of the balance amount. 4. Considering the facts and circumstances of the case, this Court finds it fit and proper to have the matter disposed of, directing the petitioner to wipe out the entire liability by way of six equal monthly instalments, commencing from 25th June, 2009. It is made clear that, if any default is committed by the petitioner in remitting the instalments, as above, the respondent Bank will be at liberty to proceed against the petitioner for realisation of the entire balance amount in a lump sum. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk