IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 9TH APRIL 2010 / 19TH CHAITHRA 1932 WP(C).No. 12662 of 2010(G) -------------------------- PETITIONER: --------------- SYAMALA KUMARI, W/O.HARIDAS K., VELATH HOUSE, PRADEEP NIVAS, LAKKIDI P.O., PALAKKAD. BY ADV. SRI.VINOD KUMAR.C RESPONDENTS: --------------- 1. THE MANAGER, STATE BANK OF INDIA, KERALASSERY, PALAKKAD. 2. AUTHORISED OFFICER, RASMECCC, SBI BUILDING, ENGLISH CHURCH ROAD, PALAKKAD. BY SRI. K.K.CHANDRAN PILLAI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. --------------------------- W.P(C). No. 12662 OF 2010 -------------------------- Dated this the 9th day of April, 2010 J U D G M E N T The petitioner had availed three different loans. The first one a 'housing loan', the second one is a 'business loan' and the other one in the course of structuring of the other loans. Despite providing all help to the extent possible, the petitioner did not satisfy the monthly instalments; under which circumstance, there was no other way for the Bank, than to declare the account as 'NPA' and proceed with further steps under the SARFAESI Act, which forms the subject matter of challenge in this writ petition. 2. Learned counsel for the respondent bank submits that, as on date, more than Rs. 6 lakhs is due from the petitioner for wiping the entire liability under the above three loans. Learned counsel for the petitioner submits that the default was never wilful but because of some unforeseen circumstances and that the petitioner is ready to clear the entire liability, if some breathing time is given to her. The learned counsel also submits that the petitioner does not intend to challenge the sustainability of the steps taken by the Bank, by availing the alternative remedy before the DRT and that the only prayer is to provide 'seven' monthly instalments to clear the entire W.P.(C).No.12662/2010 2 liability. Considering the submissions made by both the sides, this Court finds that the petitioner could be given a chance to clear the liability in a phased manner. Accordingly, the petitioner is directed to clear the entire outstanding liability by way of 'seven' equal monthly instalments; the first of which shall be effected on or before 30th April, 2010, to be followed by similar instalments to be effected on or before the 30th of the succeeding months. Subject to this, the recovery proceeding initiated against the petitioner shall be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the due amount as above, it will be open to the Bank to proceed with appropriate steps for realisation of the entire amount in a lump sum from the stage where it stands now. The writ petition is disposed of as above. P.R.RAMACHANDRA MENON, (JUDGE ) vps W.P.(C).No.12662/2010 3 W.P.(C).No.12662/2010 4