IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 4TH DAY OF MAY 2022 / 14TH VAISAKHA, 1944
WP(C) NO. 14864 OF 2022
PETITIONER :
THOMASKUTTY EMMANUEL,
AGED 24 YEARS,
S/O.EMMANUEL,
CHITTAKATTU HOUSE, KURICHITHANAM P.O,
KOTTAYAM DISTRICT- 686634
REPRESENTED BY HIS POWER OF ATTORNEY
HOLDER/FATHER MR. EMMANUEL,
S/O.THOMAS, AGED 63,
CHITTAKATTU HOUSE, KURICHITHANAM P.O,
KOTTAYAM DISTRICT- 686634.
BY ADV V.PHILIP MATHEWS
RESPONDENTS :
1 THE AUTHORISED OFFICER,
CENTRAL BANK OF INDIA, 1ST FLOOR,
METRO PALACE, REGIONAL OFFICE,
ERNAKULAM NORTH, KOCHI-682018.
2 CENTRAL BANK OF INDIA,
REPRESENTED BY ITS CHIEF MANAGER,
PALA BRANCH, PALA P.O,
KOTTAYAM DISTRICT-686 575.
SRI. K.M. ANEESH (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 04.05.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.14864 of 2022 -2-
GOPINATH.P, J
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WP(C) No.14864 of 2022
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Dated this the 4th day of May, 2022
JUDGMENT
The petitioner availed of two loans from the respondent Bank. One loan is stated to be an agricultural loan (crop loan) and the other is stated to be a gold loan.
2. The petitioner has approached this Court seeking a period of five months to clear the liability in respect of both the loans.
3. Sri.Shashank Devan, who appears for the respondents on instructions submitted that insofar as the gold loan is concerned, the amount outstanding as on date is Rs.19,66,448/- and in respect of the crop loan (the term of which is not yet over) the overdue amount is Rs.3,59,637/-.
4. It is very fairly submitted by the learned counsel for the respondent that a period of five months can be granted to the petitioner to repay the entire amount outstanding on the gold loan, the tenure of which is expired and that the same period can be given to the petitioner to pay off the overdue amount in respect of the crop loan.
5. Having regard to the submissions made by the learned counsel for the petitioner and the learned counsel for the respondent Bank, I WP(C) No.14864 of 2022 -3- am of the opinion that this writ petition can be disposed of directing as follows :
(i). The petitioner shall pay off the outstanding amount in respect of the gold loan availed in '5' equal monthly installments commencing from 01-06-2022 together with any accrued interest. The subsequent installments shall be paid on or before the 1st day of the succeeding month.
(ii). The petitioner shall clear the overdue amount in respect of the crop loan in '5' equal monthly installments commencing from 01-06-2022 together with any accrued interest. The subsequent installments shall be paid on or before the 1st day of the succeeding month.
(iii). The petitioner shall also service the crop loan by paying the regular installments due, during its tenure.
The writ petition will stand disposed of as above.
Sd/-
GOPINATH P.
JUDGE amk WP(C) No.14864 of 2022 -4- APPENDIX OF WP(C) 14864/2022 PETITIONER'S EXHIBITS :
Exhibit P1 COPY OF DEMAND NOTICE DATED 06-01-2022 ISSUED BY THE FIRST RESPONDENT TO THE PETITIONER UNDER SECTION 13(2) OF THE SARFEASI ACT Exhibit P2 COPY OF POSSESSION NOTICE DATED 26-04-2022 ISSUED BY THE FIRST RESPONDENT TO THE PETITIONER RESPONDENTS' EXHIBITS : NIL.