IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 21ST JANUARY 2010 / 1ST MAGHA 1931 WP(C).No. 1934 of 2010(N) ------------------------- PETITIONER: --------------- KANNATH CHITHRA, W/O.SUNILKUMAR, THUVAKADAN HOUSE, P.O.PAYYANAD, AMBALAPADI, MALAPPURAM DISTRICT. BY ADV. SRI.ESM.KABEER SRI.ABDUL MAJEED.N RESPONDENTS: --------------- 1. THE MANAGER, STATE BANK OF TRAVANCORE, MALAPPURAM, (ASSOCIATE OF THE STATE BANK OF INDIA) MALAPPURAM CIVIL STATION BRANCH. 2. THE DEPUTY TAHSILDAR, REVENUE RECOVERY, ERNAD TALUK, MANJERI. 3. THE VILLAGE OFFICER, PAYYANAD VILLAGE, PAYYANAD. ADV. SRI.T.SETHUMADHAVAN SRI.PUSHPARAJAN KODOTH SRI.K.JAYESH MOHANKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C) No. 1934 OF 2010 ......................................................................... Dated this the 21st January, 2010 J U D G M E N T The petitioner is aggrieved of the steps taken by the respondent Bank invoking the provisions under the SARFAESI Act for realisation of the amount stated as due in respect of a housing loan of Rs. Four lakhs availed by the petitioner in the year 2004., 2. The learned Counsel appearing for the respondent Bank, on instruction, submits that a total sum of Rs.Four lakhs with interest and cost is due from the petitioner to wipe out the entire liability under the loan transaction. It is further submitted that the steps were taken by the respondent Bank under the SARFAESI Act only because of failure from the part of the petitioner in clearing the overdue. The learned Counsel further submits that if the petitioner is ready and willing to clear the overdue, the Bank is ready to have the loan account regularised, subject to the condition that the petitioner effects regular E.M.Is W.P.(C) No. 1934 OF 2010 2 without fail. 3. In the above circumstances, the petitioner is directed to deposit a sum of Rs. Ten thousand on or before 31.01.2010, subject to which the revenue recovery proceedings stated as being pursued against the petitioner will be kept in abeyance. This will be over and above the liability of the petitioner to clear the regular monthly installments as well. On satisfying the conditions as above, the loan account of the petitioner shall be regularised. It is made clear that if any default is committed in clearing the overdue as above or in the event of committing two consecutive defaults in respect of the regular E.M.Is payable, the respondent will be at liberty to proceed against the petitioner for realisation of the entire amount in a lump sum. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk