IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 31335 of 2010(N)
1. JAYANATHAVALLI.S.,
... Petitioner
Vs
1. THE MANAGER, SOUTH INDIAN BANK,
... Respondent
2. AUTHORISED OFFICER, SOUTH INDIAN BANK,
For Petitioner :SRI.VINOD KUMAR.C
For Respondent :SRI.K.K.JOHN,SC,SOUTH INDIAN BANK
The Hon'ble MR. Justice C.K.ABDUL REHIM
Dated :13/10/2010
O R D E R
C. K. ABDUL REHIM, J.
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W.P.(C) No. 31335 of 2010
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Dated this the 13th day of October, 2010
JUDGMENT
Consequent to default committed in repayment of a
housing loan availed by the petitioner from the respondent
Bank, coercive steps under the SARFAESI Act was initiated
against immovable property of the petitioner, which is the
secured asset. Ext.P1 is the notice issued intimating steps
with respect to taking over possession of the property.
2. According to the petitioner, her husband was
seriously ill and he died on 22-5-2010. She had spent huge
amounts for his treatment. On receipt of Ext.P1, the
petitioner had approached the respondents with a request
to permit her to pay off the defaulted amounts, in order to
regularize the account. According to her, the respondents
are not taking note of such request and is proceeding with
coercive steps. Hence this writ petition.
3. Heard Mr. K.K. John learned counsel appearing for
the respondents. It is submitted that if the petitioner pays
W.P.(C) No.31335/2010 2
the entire defaulted amount within a short time, she can be
permitted to continue payment of future instalments as per
the original schedule.
4. Under the above circumstances, this writ petition is
disposed of directing the petitioner to remit the entire
defaulted amount with interest and expenses if any due,
within a period of one month from today. If the petitioner
remits the entire defaulted amount as directed above, the
respondents will permit her to continue payment of future
monthly instalments in accordance with the original
schedule.
It is made clear that on the event of default, the
respondents will be free to proceed with further steps
pursuant to the notice already issued.
C. K. ABDUL REHIM,
JUDGE.
mn.