IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 4446 of 2009(D)
1. O. LATHIKA,
... Petitioner
Vs
1. THE AUTHORISED OFFICER,
... Respondent
2. THE BRANCH MANAGER,
For Petitioner :SRI.J.JAYAKUMAR
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :11/02/2009
O R D E R
THOTTATHIL B RADHAKRISHNAN, J
...........................................
WP(C).NO. 4446 OF 2009
............................................
DATED THIS THE 11TH DAY OF FEBRUARY, 2009
JUDGMENT
The petitioner, a last grade servant, has two cents of land. She
mortgaged that and obtained a housing loan. Her husband is also a
co-obligant. The outstandings accrued and the bank recalled the
facility and initiated SARFAESI Act proceedings. The period of the
loan is for 15 years. It was availed in the year, 2000. The monthly
instalment was fixed at Rs.2000/-. Petitioner’s son, is a BDS student.
This is a fit case where the bank should consider regularisation of the
transaction on payment of the defaulted instalments and accruals
thereon, more particularly because in paragraph 5 of the writ petition,
it is stated that the petitioner has made certain payments and also
taking into consideration the attendant facts and circumstances.
2. For the aforesaid reasons, it is ordered that if the petitioner
pays the entire outstandings with accruals thereon by 25th March,
2009, the bank will permit the petitioner to continue to enjoy the
facility.
Writ petition ordered accordingly. If there is default in
remitting any of the instalments as aforesaid, the benefit of this
judgment will stand recalled automatically and respondents will be at
liberty to proceed with further action. Learned Chief Judicial
WP(C) 4446/2009 2
Magistrate, on production of a copy of this judgment, will close the
proceedings pending at that end under Section 14 of SARFAESI Act,
preserving the right of the petitioner herein to move that action if
necessary.
THOTTATHIL B RADHAKRISHNAN,
JUDGE
lgk/16/2