IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 6TH JULY 2009 / 15TH ASHADHA 1931 WP(C).No. 18479 of 2009(D) ---------------------------------------- PETITIONER(S): ------------------------ PATHUNNI UMMA, W/O.MUHAMMED, AGED 85 YEARS, PALAKAPALLIYALI HOUSE, AMAPOYIL, VELLAYOOR, MALAPPURAM DISTRICT. BY ADV. MR.BABU S. NAIR RESPONDENT(S): ------------------------- 1. THE NILAMBUR CO-OPERATIVE URBAN BANK LTD., KARUVARAKUNDU BRANCH, REPRESENTED BY ITS BRANCH MANAGER. 2. THE AUTHORIZED OFFICER UNDER THE SARFAESI ACT, THE NILAMBUR CO-OPERATIVE URBAN BANK, NILAMBUR, MALAPPURAM DISTRICT. BY ADV. MR.DEVAPRASANTH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) NO. 18479 OF 2009 ----------------------------------- Dated this the 6th day of July, 2009 J U D G M E N T The petitioner has approached this Court challenging the coercive steps taken by the respondent Bank invoking the provisions under the SARFAESI Act. The petitioner who availed a loan of Rs.2,50,000/- on 03.05.2008, at the age of 85 years, turned to be a defaulter, compelling the respondent Bank to take the coercive steps as above. 2. Learned Counsel appearing for the Bank, on instructions, submits that as on date, a sum of Rs.1,86,000/- (approximately) is due for regularising the loan account. 3. Considering the facts and circumstances, particularly giving due weight to the age factor of the petitioner, this Court finds it fit and proper to have the matter disposed of, permitting the petitioner to clear the defaulted arrears by way of three monthly instalments to be effected at the rate of Rs,40,000/- each and to have the loan account regularised. 3. In the above circumstances, the petitioner is directed to effect the first instalment of Rs.40,000/- on or before the 30th of this month, to be followed by two more similar instalments to be effected on or before the WPC NO.18479/2009 2 30th of August as well as September, 2009. Over and above this, the petitioner has to effect the regular EMIs for July, 2009 onwards. It is made clear that if any default is committed by the petitioner in clearing the arrears as above or if any two consecutive defaults are made in respect of the regular EMIs payable, the respondent Bank will be at liberty to proceed with the coercive steps against the petitioner for realisation of the entire amount in lump sum, from the stage where it stands now. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc