IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 24631 of 2008(G)
1. O.K.POCKER, VALIYADUTH HOUSE,
... Petitioner
Vs
1. STATE BANK OF INDIA, REPRESENTED BY ITS
... Respondent
2. AUTHORISED OFFICER, STATE BANK OF INDIA
3. BRANCH MANAGER, STATE BANK OF INDIA,
For Petitioner :SRI.B.V.JOY SANKER
For Respondent :SRI.K.JAYAKUMAR
The Hon'ble MR. Justice S.SIRI JAGAN
Dated :21/08/2008
O R D E R
S. SIRI JAGAN, J.
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W.P.(C)No.24631 OF 2008
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Dated this the 21st day of August, 2008
JUDGMENT
The petitioner is a defaulter in repayment of loan amounts
due from him to the respondents. The petitioner submits that
the loan is a house building loan and the petitioner may be
permitted to regularise the loan account by paying the defaulted
instalments and he may be allowed to continue payment of the
regular instalments in accordance with the loan agreement.
2. This is opposed by the learned counsel for the
respondents, who would submit that the petitioner has not paid
any amount in repayment of the loan amounts and as such he is
not entitled to any reliefs in the matter.
3. After hearing both sides, I feel that the petitioner can
be given another opportunity to regularise the loan account and
continue to pay the future instalments as per the loan agreement
without default. Accordingly, the writ petition is disposed of with
the following directions:
W.P.(c)No.24631/08 2
The petitioner shall pay an amount of Rs.1,50,000/-
(Rupees One lakh fifty thousand only) before 10th September
2008. On such payment, the respondents shall regularise the
petitioner’s loan account and allow the petitioner to pay off the
future instalments in accordance with the loan agreement. If
the petitioner remits the Rs.1,50,000/- and the future
instalments on the due dates as per the loan agreement,
further proceedings under the Act shall be kept in abeyance.
However, if the petitioner fails to pay the Rs.1,50,000/- and
any of the future instalments, it would be open to the
respondents to continue proceedings as now initiated without
having to issue any fresh notice or proceedings in that regard.
S. SIRI JAGAN, JUDGE
Acd
W.P.(c)No.24631/08 3