Stephen J vs Neyyattinkara Co-Operative ...
2021 Latest Caselaw 12032 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

          THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN

     FRIDAY, THE 16TH DAY OF APRIL 2021 / 26TH CHAITHRA, 1943

                       WP(C).No.9786 OF 2021(W)


PETITIONERS:

      1        STEPHEN J.
               AGED 48 YEARS
               SHERIN BHAVAN, KAITHACHANI, PERUMPAZHUTHUR P.O.,
               NEYYATTINKARA, THIRUVANANTHAPURAM - 695 126.

      2        SHERLY L.
               AGED 46 YEARS
               W/O.STEPHEN J., SHERIN BHAVAN, KAITHACHANI,
               PERUMPAZHUTHUR P.O., NEYYATTINKARA,
               THIRUVANANTHAPURAM - 695 126.

               BY ADV. SMT.S.SOUMYA ISSAC

RESPONDENTS:

      1        NEYYATTINKARA CO-OPERATIVE URBAN BANK LIMITED
               REPRESENTED BY ITS MANAGER, NEYYATTINKARA BRANCH,
               NEYYATTINKARA, THIRUVANANTHAPURAM - 695 121.

      2        NEYYATTINKARA CO-OPERATIVE URBAN BANK LIMITED
               REPRESENTED BY ITS AUTHORIZED OFFICER,
               NEAR FIRE STATION, NEYYATTINKARA,
               THIRUVANANTHAPURAM - 695 121.

               BY ADV.SRI R.T. PRADEEP

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.9786 of 2021
                                      2




                                JUDGMENT

Dated this the 16th day of April, 2021

The above writ petition is filed challenging Ext.P2 notice dated

7.1.2021 issued by the respondent Bank under the provisions of the

Securitisation and Reconstruction of Financial Assets and Enforcement

of Security Interest Act, 2002 (SARFAESI) and for a direction to the

respondents to permit the petitioners to clear the dues in 12 equal

monthly instalments.

2. Mr.R.T.Pradeep, learned counsel for the respondents

submitted that the property has already been taken possession of,

however if the petitioners take steps to clear the entire outstanding

liability, instalment facility can be provided.

3. Heard learned counsel for the petitioners and learned

counsel for the respondents.

Writ petition is disposed of directing the petitioners to pay the

entire outstanding liability, which the Bank states to be Rs.5,55,768/-

as on 13.4.2021, in 10 equal monthly instalments, to start from May

2021 with future interest and charges for SARFAESI proceedings. If W.P.(C)No.9786 of 2021

there is two consecutive default for payment of the instalment, the

Bank will be free to initiate proceedings pursuant to Ext.P2. The

respondent Bank has to deliver the property back to the petitioners on

paying the entire outstanding liability as referred to above.

Sd/-

Murali Purushothaman Judge

vpv W.P.(C)No.9786 of 2021

APPENDIX

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE LOAN DETAILS OF THE PETITIONER.

EXHIBIT P2 TRUE COPY OF THE NOTICE SENT BY THE RESPONDENT BANK DATED ON 07/01/2021.

EXHIBIT P3 THE REPRESENTATION MADE BY THE PETITIONER DATED ON 24/01/2021.

/TRUE COPY/

P.A. TO JUDGE