Abdul Gafoor K.K vs The State Of Kerala
2021 Latest Caselaw 11012 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

   WEDNESDAY, THE 07TH DAY OF APRIL 2021 / 17TH CHAITHRA, 1943

                       WP(C).No.7693 OF 2021(J)


PETITIONER:

               ABDUL GAFOOR K.K.,
               AGED 40 YEARS,
               KARUVANGATTUKAVIL HOUSE,
               NADUVATTOM P.O,MALAPPURAM-679 571.

               BY ADV. SRI.I.DINESH MENON

RESPONDENTS:

      1        THE STATE OF KERALA,
               REPRESENTED BY ITS CHIEF SECRETARY,
               GOVERNMENT SECRETARIAT, P.O.
               THIRUVANANTHAPURAM-695 001.

      2        THE RESERVE BANK OF INDIA,
               6, SANSAD MARG, SANSAD MARG AREA,
               NEW DELHI, DELHI-110 001.

      3        THE BRANCH MANAGER,
               CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED,
               TANUR P.O, TANUR-676 302.

               R1 BY SMT. POOJA SURENDRAN, GOVERNMENT PLEADER.
               R3 BY ADV. SRI.BINOY VASUDEVAN, STANDING COUNSEL.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.7693 OF 2021

                                        2




                                  JUDGMENT

Dated this the 07th day of April 2021

Heard both sides.

2. The petitioner had taken a loan from the 3rd

respondent for purchase of a stage carriage vehicle.

He could not repay that loan and that is how the

same was declared as non-performing asset. And

accordingly, steps under the SARFAESI Act are taken

by the 3rd respondent for recovery of the loan.

3. The learned counsel for the petitioner

submits that the petitioner is willing to pay the

overdue amount in ten instalments.

4. The learned counsel for the 3rd respondent

submits the overdue amount is about Rs.70,185/

(Rupees Seventy Thousand One Hundred Eighty Five

Only) and the 3rd respondent is willing to receive

the same in instalments.

5. In this view of the matter, the writ

petition is disposed of with the following

directions:

i) The petitioner to pay the entire overdue WP(C).No.7693 OF 2021

amount of the loan with interest and charges in

ten equated successive monthly instalments

commencing from 19-04-2021.

ii) In addition, the petitioner should also pay

the E.M.Is regularly.

If these directions are complied with, the

respondents shall keep coercive action under the

SARFAESI Act initiated against the petitioner in

abeyance. A single default on the part of the

petitioner in compliance with these directions shall

entail the respondent to continue with the coercive

action initiated against the petitioner. No further

extension of time shall be granted to the petitioner

for compliance with these directions.

The petition, is disposed of as above.

Sd/-

A.M.BADAR JUDGE SSK/07/04 WP(C).No.7693 OF 2021

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE RC BOOK OF KL 55 Y 9004.

EXHIBIT P2 TRUE EXTRACT OF THE INTERIM ORDER IN W.P.C NO. 9400/2020 DATED 3.8.2020.

EXHIBIT P3 TRUE COPY OF THE JUDGMENT IN W.P.C NO.

825/2020 DATED 27.11.2020.

EXHIBIT P4 TRUE COPY OF THE REQUEST TO RBI DATED 6.3.2021.

EXHIBIT P5 TRUE COPY OF THE REQUEST TO CHOLAMANDALAM INVESTMENT AND FINANCE LIMITED DATED 6.3.2021.

EXHIBIT P6 TRUE COPY OF THE JUDGMENT IN W.P.C NO.

                      2389/2021 DATED 8.3.2021
RESPONDENT'S EXHIBITS:NIL


SSK                      //TRUE COPY//                  PA TO JUDGE