Vinodakrishnan C vs The Authorized Officer
2021 Latest Caselaw 11986 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

          THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN

    TUESDAY, THE 13TH DAY OF APRIL 2021 / 23RD CHAITHRA, 1943

                       WP(C).No.7536 OF 2021(N)


PETITIONER:

               VINODAKRISHNAN C.
               AGED 48 YEARS
               S/O. CHENTHAMARAKSHAN, DOOR NO.14, NAYATTUMOOLIKALAM
               HOUSE, KUZHALMANNAM, PALAKKAD DISTRICT, PIN-678 702.

               BY ADV. SRI.N.P.PRAJEESH

RESPONDENTS:

      1        THE AUTHORIZED OFFICER,
               THE SOUTH INDIAN BANK LIMITED, REGIONAL OFFICE,
               PALAKKAD, DOOR NO.733/2, FIRST FLOOR, D AND D ARCADE
               BUILDING, CHITTUR ROAD, MANAPPULLIKAVU, KUNNATHUMEDU
               P.O., PALAKKAD, PIN-678 013.

      2        THE BRANCH MANAGER
               THE SOUTH INDIAN BANK LIMITED, REGIONAL OFFICE,
               PALAKKAD, DOOR NO.733/2, FIRST FLOOR, D AND D ARCADE
               BUILDING, CHITTUR ROAD, MANAPPULLIKAVU, KUNNATHUMEDU
               P.O., PALAKKAD, PIN-678 013.

               R1-2 BY ADV. SRI.SUNIL SHANKER

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.7536 OF 2021(N)

                                         2



                                   JUDGMENT

Dated this the 13th day of April 2021

The above writ petition is filed challenging Exts.P1

and P2 proceedings initiated by the respondent under the

provisions of SARFAESI Act, 2002. The respondents have

filed a statement and paragraph 5 of the statement is

extracted:

"An amount of Rs.9,94,555.38 is due from the petitioners as on 26/03/2021 with further from 26/03/2021 and charges / expenses of securitisation measures. The overdue amount as on 26/03/2021 is Rs.3,16,200/-."

2. Heard the learned Counsel for the petitioner

and the learned Counsel for the respondents.

3. The writ petition is disposed of directing the

petitioner to remit the overdue amount of Rs.3,16,200/-

(Rupees Three lakh sixteen thousand two hundred only)

along with the accrued interest and securitisation

expenses in eight equal monthly installments

commencing from the end of April, 2021. In case the

petitioner defaults in payment of the installments, the WP(C).No.7536 OF 2021(N)

respondent bank will be free to proceed in accordance

with the provisions of the Act. The petitioner is also

directed to make payment to regularise installments in

the meantime.

The writ petition is disposed of accordingly.

Sd/-

MURALI PURUSHOTHAMAN

JUDGE

SKP/15-4 WP(C).No.7536 OF 2021(N)

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE PHOTOCOPY OF THE NOTICE ISSUED BY THE IST RESPONDENT DATED 20.10.2020.

EXHIBIT P2 TRUE PHOTOCOPY OF THE NOTICE ISSUED BY THE IST RESPONDENT DATED 17.3.2021.

RESPONDENTS'S EXHIBITS:NIL

TRUE COPY P.A. TO JUDGE