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P.D.BAIJU, AGED 12 YEARS, S/O.DAMODARAN v. AUTHORIZED OFFICER, STATE BANK OF INDIA - WP(C) No. 13314 of 2007(I)  RD-KL 15662 (14 August 2007)
IN THE HIGH COURT OF KERALA AT ERNAKULAMWP(C) No. 13314 of 2007(I)
1. P.D.BAIJU, AGED 12 YEARS, S/O.DAMODARAN
1. AUTHORIZED OFFICER, STATE BANK OF INDIA,
2. STATE BANK OF INDIA, EDAMUTTAM,
For Petitioner :SRI.AZAD BABU
For Respondent :SRI.K.K.CHANDRAN PILLAI
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
O R D E R
THOTTATHIL B.RADHAKRISHNAN, J.W.P(C).No.13314 OF 2007
Dated this the 14th day of August, 2007
Learned counsel for the Bank submits that if the entire accrued arrears, by treating the account as a running one, are paid in a lump as also the entire expenditure incurred by the Bank under the SARFAESI Act, the Bank will be able to re- schedule the loan. Learned counsel for the petitioner submits that the petitioner is prepared to comply with the aforesaid. Under such circumstances, this writ petition is disposed of directing that if the petitioner deposits all outstanding arrears and expenditure incurred under the SARFAESI Act within a period of 15 days, the Bank will re-schedule the loan. If such deposit is not made, the benefit of this judgment will stand recalled automatically. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.
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