Ajith Kumar vs The Authorized Officer
2021 Latest Caselaw 11830 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.8379 OF 2021(V)


PETITIONER:

              AJITH KUMAR
              AGED 47 YEARS
              S/O.SUGATHAN, RESIDING AT VINAYAKA, AVANOOR,
              NEDUVATHOOR, KOTTARAKKARA, KOLLAM DISTRICT-691505.

              BY ADVS.
              SRI.ABDUL RAOOF PALLIPATH
              SRI.K.R.AVINASH (KUNNATH)
              SRI.C.H.ABDUL RASAC
              SHRI. RAJ CAROLIN V.


              THE AUTHORIZED OFFICER
              THE QUILON CO-OPERATIVE URBAN BANK LTD-960, KOLLAM-
              691001.




              SMT. RENU.D, STANDING 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.8379 OF 2021(V)

                                    2

                              JUDGMENT

Dated this the 9th day of April 2021

Heard both sides.

2. The petitioner along with one Ramachandran had availed

loan of Rs.1.50 crores from the respondent Bank in the year 2017. The

petitioner and the co-borrower failed to repay the loan and that is

how, the same came to be declared non-performing asset. On an

earlier occasion, the petitioner approached this Court by filing writ

petitioner bearing number WP(C) 8292/2018 and sought instalments

to clear overdue amount. Though eight instalments were paid by the

petitioners therein, the remaining two instalments were defaulted.

3. The learned counsel for the petitioner submits that co-

borrower Ramachandran has committed suicide and therefore, earlier

judgment could not be complied by the petitioner. It is argued that the

petitioner wants to clear the overdue amount in ten instalments.

4. The learned counsel for the respondent submits that the

overdue amount is about Rs.60,07,469/- and if the petitioner pays it

alongwith EMIs in ten instalments, then the same can be accepted by

the Bank.

5. As the learned counsel for the petitioner has stated that the

petitioner is willing to pay the overdue amount in instalments and as WP(C).No.8379 OF 2021(V)

the respondent is willing to accept the same in instalments, despite

the fact that the direction in the earlier judgment was not complied by

the petitioner, he deserves one more chance. This is particularly so

because the co-petitioner in the earlier petition had committed suicide

subsequently. Hence the petition is disposed of with the following

direction.

The petitioner to clear the entire overdue amount with interest

and other charges in ten equated successive monthly instalments

commencing from 19.04.2021. In addition, the petitioner should also

to pay regular EMIs. If these directions are followed, then the

respondents shall keep the coercive action under the SARFAESI Act in

abeyance. A single default by the petitioner shall entail the

respondents to continue with the SARFAESI action taken under the

SARFAESI Act. It is made clear that no further extension of time to

comply with this order shall be granted to the petitioner.

Sd/-

                                                     A.M.BADAR
Nsd                                                      JUDGE
 WP(C).No.8379 OF 2021(V)




                           APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1           TRUE COPY OF THE M.C.NO.112/2018 DATED
                     23.1.2018 BEFORE THE CHIEF JUDICIAL
                     MAGISTRATE COURT, KOLLAM.

EXHIBIT P2           TRUE COPY OF THE JUDGMENT OF THIS HON'BLE
                     COURT IN WP(C)NO.8292/2018 DATED
                     26.11.2018.

EXHIBIT P3           TRUE COPY OF THE DEATH CERTIFICATE OF

RAMACHANDRAN V.S ISSUED BY KOTTARAKARA MUNICIPALITY DATED 18.02.2021.

EXHIBIT P4 TRUE COPY OF THE REQUEST MADE BY THE PETITIONER BEFORE THE RESPONDENT DATED 25.03.2021.