Ajitha S vs The Authorized Officer
2021 Latest Caselaw 11811 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                              PRESENT

                THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 09TH DAY OF APRIL 2021 / 19TH CHAITHRA, 1943

                      WP(C).No.9597 OF 2021(Y)


PETITIONER:

              AJITHA S.,
              AGED 48 YEARS,
              PADIKKAL PARAMBU HOUSE,
              VARANADU P.O., CHERTHALA SOUTH,
              CHENGANDA JUNCTION, ALAPPUZHA DISTRIT,
              PIN-688 539.

              BY ADV. SRI.T.P.SANTHOSH KUMAR

RESPONDENT:

              THE AUTHORIZED OFFICER,
              AXIS BANK
              RETAIL ASSET CENTRE,
              5TH FLOOR, CHICAGO PLAZA,
              RAJAJI ROAD, ERNAKULAM,
              KOCHI - 682 035.

              BY SRI POULOCHAN ANTONY, STRANDING COUNSEL.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.9597 OF 2021

                                     2




                              JUDGMENT

Dated this the 09th day of April 2021

Heard both sides.

2. Petitioners have taken a loan from the

respondent and they have defaulted in payment there

of. The petitioners want to clear the over due

amount in instalments.

3. The learned Standing Counsel appearing for

the respondents submits that as of now the over due

amount is about Rs.1,24,122/- (Rupees One Lakh

Twenty Four Thousand One Hundred Twenty Two Only)

and the same can be cleared by the petitioners in

five installments.

4. In view of the fact that the respondent is

permitting the petitioners to clear the over due

amount in instalments, the petition is disposed of

with the following directions:

i) The petitioners to pay the entire overdue

amount of the loan accounts with interest and

other charges in five equated successive monthly

instalments commencing from 26-04-2021.

WP(C).No.9597 OF 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 petitioners in

abeyance. A single default on the part of the

petitioners in compliance with these directions

shall entail the respondents to continue with the

coercive action initiated against the petitioners.

No further extension of time shall be granted to the

petitioners for compliance with these directions.

The petition, is disposed of as above.

Sd/-

A.M.BADAR JUDGE SSK/09/04 WP(C).No.9597 OF 2021

APPENDIX PETITIONER'S EXHIBITS:

TRUE COPY OF THE POSSESSION NOTICE DATED EXHIBIT P1 18-03-2021 ISSUED BY THE RESPONDENT.

RESPONDENT'S EXHIBITS:NIL


SSK                      //TRUE COPY//          PA TO JUDGE