WP(C) No.20398/2022 1/5
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
Tuesday, the 28th day of June 2022 / 7th Ashadha, 1944
WP(C) NO. 20398 OF 2022
PETITIONER:
ANSAR KABEER, AGED 45 YEARS, S/O KABEER, SABEENA MANZIL, MULLASERRI
MANGALAPURAM, TRIVANDRUM - 695317
RESPONDENTS:
1. THE AUTHORISED OFFICER/MANAGER, AXIS BANK LIMITED, 2ND FLOOR, NIHAL
COMPLEX, KARAMANA, TRIVANDRUM 695002.
2. BRANCH MANAGER, KERALA STATE FINANCIAL ENTERPRISES, MANACAUD BRANCH,
THIRUVANANTHAPURAM - 695009
Writ petition (civil) praying inter alia that in the circumstances
stated in the affidavit filed along with the WP(C) the High Court be
pleased to issue a direction directing 1st respondent to consider and
dispose the Ext.P6 till disposal of Writ Petition.
This petition coming on for admission upon perusing the petition and
the affidavit filed in support of WP(C) and upon hearing the arguments of
SRI.M.R.SARIN, Advocate for the petitioner and of SRI.SALIL NARAYANAN,
STANDING COUNSEL for R2, the court passed the following:
WP(C) No.20398/2022 2/5
GOPINATH P., JUDGE.
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W.P.(C)No.20398 of 2022
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Dated this the 28th day of June, 2022
ORDER
The petitioner availed a loan from the 1 st respondent bank in respect of which proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the SARFAESI Act) were initiated to recover the amounts due from the petitioner. This Court, through judgment dated 1.6.2022, had directed that, if the petitioner pays an amount of Rs.18,25,000/- together with any accrued interest and charges on or before 30.6.2022 to the 1 st respondent bank, further coercive steps against the petitioner shall be kept in abeyance. This was also taking into consideration the fact that an amount of Rs.14 lakhs had been paid by the petitioner to the 1st respondent bank towards discharge of liabilities.
2. This writ petition has been filed by the petitioner stating that the petitioner has prized a chitty from the 2 nd respondent KSFE and he intends to utilise that amount to pay the amount of Rs.18,25,000/- along with future interest and cost as directed in Ext.P5 judgment. It is submitted that the 1st respondent bank has to handover the documents pledged with the 1st respondent forthwith to enable the petitioner to deposit the same with the WP(C) No.20398/2022 3/5 W.P.(C)No.20398/2022 2 KSFE for creation of his security for release of the amount under the prized chitty.
3. The learned Standing Counsel appearing for the 1 st respondent bank states that the documents mortgaged by the petitioner are deposited with the Central Processing Centre of the 1 st respondent bank at Hyderabad and it will take some time for the bank to handover the documents after payment is effected.
4. When this writ petition is taken up for consideration today, it is the submission of Sri. Salil Narayanan, the learned counsel appearing for the 2nd respondent KSFE that the petitioner has prized yet another chitty from the very same branch of KSFE and has provided the documents relating to another property belonging to the petitioner as security for release of the amount under that chitty. It is submitted that preliminary enquiries have shown that the value of the said property will also cover the liability of the other prized chitty as well. It is submitted that the documents have been forwarded to the Regional Office of the 2 nd respondent for the purpose of sanction and a period of two weeks is required to process the same.
5. Having regard to the above facts and circumstances, I direct that the period for payment of Rs.18,25,000/- be extended by WP(C) No.20398/2022 4/5 W.P.(C)No.20398/2022 3 the 1st respondent bank for a period of two weeks from 30.6.2022 on condition that the petitioner pays all accrued interest and charges to the 1st respondent bank till the date of payment.
Post after two weeks.
Sd/-
GOPINATH P.
JUDGE
acd
28-06-2022 /True Copy/ Assistant Registrar
WP(C) No.20398/2022 5/5
APPENDIX OF WP(C) 20398/2022
Exhibit P6 THE TRUE COPY OF THE REPRESENTATION FILED BY THE
PETITIONER BEFORE THE 1ST RESPONDENT ON 4.6.2022