IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 8359 of 2008(T)
1. SMT.SEENA KUMARI, AGED 47 YEARS,
... Petitioner
2. SRI.ASHOK KUMAR.K., S/O.KUNJIRAMAN
Vs
1. STATE BANK OF TRAVANCORE, REPRESENTED
... Respondent
2. THE AUTHORISED OFFICER (CHIEF MANAGER)
For Petitioner :SRI.V.V.RAJA
For Respondent :SRI.SATHISH NINAN
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :18/03/2008
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) No. 8359 OF 2008 - T
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Dated this the 18th day of March, 2008
J U D G M E N T
In this writ petition what is challenged is the proceedings
initiated by the respondent bank under the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002. Even according to the counsel for the
petitioners, five instalments are in default and what is sought for is
an order permitting the petitioners to regularise the loan by paying
the instalment amount in default.
2. From the submissions made on behalf of the
respondents, it is seen that a 20 year loan was availed of in 2004
and what is in default is some of the instalments. Having regard to
the above, I feel, ends of justice will be met if the petitioners are
permitted to revive their loan by clearing the entire amount that is
due along with other costs incurred by the bank towards the
proceedings impugned in this writ petition.
W.P.(C)No.8359/2008
– 2 –
3. Accordingly, I direct that the petitioners shall pay the
entire amount in default along with other costs incurred by the bank
before 31st March, 2008 and subject to such payment further
proceedings will stand deferred. I also direct that on payment as
above, the bank will revive the loan agreement and the petitioners
will be allowed to pay the future instalments as provided for in the
loan agreement itself. It is clarified that in case default is
committed the bank will be free to continue the proceedings.
ANTONY DOMINIC
JUDGE
jan/-