IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 34072 of 2007(F)
1. MINI MOL S., D/O. SANTHAMMA,
... Petitioner
Vs
1. THE CHIEF MANAGER,
... Respondent
2. AUTHORISED OFFICER,
For Petitioner :SRI.M.R.SASITH PANICKER
For Respondent :SRI.A.S.P.KURUP, SC, UBI
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :21/11/2007
O R D E R
ANTONY DOMINIC, J
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W.P.(C). 34072/2007
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Dated this the 21st day of November, 2007
JUDGMENT
Housing loan was availed of by the petitioner and
default was committed and that resulted in the
proceedings under the Secrutisation and Reconstruction
of Financial Assets and Enforcement of Security Interest
Act at the instance of the first respondent for realising the
dues.
2. This case was adjourned for the counsel for the first
respondent to get instructions. Today, when the matter
was taken up for consideration, learned counsel, on
instruction, submitted that after availing of loan from the
Bank, default was committed and therefore, loan was
recalled and that thereafter impugned proceedings were
initiated. Counsel also submits that if the petitioner so
desires he can still be given a chance to regularize the
account and revive the transaction.
3. Taking into account the submissions made by both
sides, though I do not find anything irregular in the action
W.P.(C).34072/2007
2
taken by the Bank warranting to be interfered, I feel that
the offer made by the Bank to regularise the account, is
the best that the petitioner can get.
4. Accordingly, I direct that if the petitioner clears
the entire arrears as of now, that may be remitted to
the Bank within one month from today, in which event
Bank will regularise the account. Thereafter the dues of
the petitioner may be rescheduled by the Bank and the
petitioner may be permitted to pay the balance amount
instalments as rescheduled by the Bank.
5. Needless to say that in case the petitioner commits
default either in paying the arrears or in paying the
subsequent instalments, Bank will be free to proceed in
accordance with law against the petitioner without
further notice.
Writ petition is disposed of as above.
ANTONY DOMINIC
Judge
mrcs