IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 3RD AUGUST 2009 / 12TH SRAVANA 1931 WP(C).No. 21799 of 2009(T) -------------------------- PETITIONER: --------------- MADARI BHARGAVI AMMA, W/O. VADAKKEPPAT PRABHAKARA MENON, MADARI HOUSE, EDAKKARA P.O., MALAPPURAM DIST. BY ADV. MR. P.SAMSUDIN RESPONDENTS: --------------- 1. THE NILAMBUR CO-OPERATIVE URBAN BANK LTD., REPRESENTED BY ITS DEPUTY GENERAL MANAGER, NILAMBUR. 2. THE DEPUTY GENERAL MANAGER, (AUTHORIZED OFFICER), NILAMBUR CO-OPERATIVE URBAN BANK LTD., NILAMBUR. 3. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. R1 AND R2 BY ADV. MR. MR. DEVA PRASANTH P.J, SC R3 BY GOVERNMENT PLEADER MR. P.K. BABU THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 21799 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 3rd day of August, 2009 JUDGMENT The petitioner had availed a loan of Rs. 5 lakhs from the respondent Bank in the year, 2007 creating security interest over the property in question. Even though a substantial portion of the said liability has already been effected, the petitioner could not prove her word and there occurred some default in repaying the amount, under which circumstances, the Bank declared the asset as 'NPA' and proceeded with the steps under the SARFAESI Act. The case of the petitioner is that, she has made alternative arrangements to have some other property disposed of, for generating funds and to wipe off the liability, which is expected to be materialized by 30.9.2009. This being the position, the only prayer in the Writ Petition is to give time till the 1st October, 2009 and to enable the petitioner to save her properties, over which security interest has been created. 2. Heard the learned counsel for the respondent Bank as well. 3. After considering the facts and circumstances, particularly taking note of the limited requirement and relief prayer for, the petitioner is hereby directed to satisfy the due amount on or before the 1st October, 2009. It is also made clear that, if any default is committed in this regard, the respondent Bank will be at liberty to proceed with WP (C) No. 21799 of 2009 : 2 : further steps for realization of the entire amount in lump sum, by pursuing such steps from the stage where it stands now. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd