IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 7TH SEPTEMBER 2010 / 16TH BHADRA 1932 WP(C).No. 25244 of 2010(E) -------------------------------------- PETITIONER: ------------------- SMT.ANNAMMA THOMAS, AGED 60 YEARS, W/O. LATE P.P.THOMAS, BABU BHAVAN (MANNIL PUTHEN VEEDU), CHANDANAPPALLY P.O., ANGADICKAL NORTH VILLAGE, ADOOR TALUK, PATHANAMTHITTA DISTRICT. BY ADV. SRI.S.SHANAVAS KHAN. RESPONDENTS: ------------------------ 1. THE KERALA STATE CO-OPERATIVE BANK LIMITED, THIRUVANANTHAPURAM REGIONAL OFFICE, REPRESENTED BY ITS REGIONAL MANAGER – 695 001. 2. THE KERALA STATE CO-OPERATIVE BANK LIMITED, REPRESENTED BY ITS BRANCH MANAGER, PATHANAMTHITTA BRANCH, PATHANAMTHITTA – 689 645. R1 & R2 BY ADV. SRI.NAGARAJ NARAYANAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/09/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. C. K. ABDUL REHIM, J. =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= W.P.(C) No. 25244 of 2110 =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= Dated this the 7th day of September, 2010 JUDGMENT Petitioner has approached this Court challenging the sale proclamation published by respondents with respect to the sale of immovable properties mortgaged by the petitioner’s son for availing a loan from the 2nd respondent, to the tune of Rs.6 lakhs. 2. Consequent to default committed in repayment, the Bank had initiated proceedings under the the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the SARFAESI Act). It is stated that subsequent to the sale notice, an amount of Rs.1,40,000/- was remitted. But inspite the Bank had proceeded with the steps for conducting sale. Correctness of the amount claimed is disputed. It is conceded by both sides that the sale proclamed under Ext.P1 was not materialized, and it stands postponed to another date. Eventhough various contentions are raised challenging the impugned W.P.(C) No. 25244/2010 2 proceedings, learned counsel for the petitioner conceded that the petitioner is ready and willing to pay off the entire liability, since her son is at present employed in Gulf countries, provided a reasonable time is granted for effecting payment in instalments. It is also conceded that the petitioner is relinquishing all her challenges against the proceedings now initiated. 3. Learned standing counsel appearing for the respondents submitted that an amount of Rs.8,26,000/- with interest due thereon from 18-8-2010 onwards is outstanding along with other incidental charges. He opposed the request of the petitioner on the ground that the loan account is in chronic default. 4. Considering the facts and circumstances attendant in this case, I am inclined to show indulgence in permitting the petitioner to pay off the entire liability within a reasonable period in instalments, even though interference on merits is not at all waranted. 5. In the result, the writ petition is disposed of W.P.(C) No. 25244/2010 3 directing the respondents to keep all further proceedings pursuant to Ext.P1 notice in abeyance, subject to the condition of the petitioner remitting the entire amount due in 8 (eight) equal monthly instalments, falling due on or before 30-9-2010 and on or before the last date of the succeeding months. 6. It is made clear that on the event of default in payment of any of the instalments, the respondents will be free to proceed with further steps. It is also made clear that the above relief is granted subject to the condition that the petitioner is precluded from raising any challenge against such proceedings, either before this Court or before any other forum. C. K. ABDUL REHIM, JUDGE. mn.