Sajeena A vs Indian Overseas Bank
2021 Latest Caselaw 12102 Ker

         IN THE HIGH COURT OF KERALA AT ERNAKULAM

                             PRESENT

               THE HONOURABLE MR. JUSTICE T.R.RAVI

 TUESDAY, THE 20TH DAY OF APRIL 2021 / 30TH CHAITHRA, 1943

                    WP(C).No.10118 OF 2021(L)


PETITIONERS:

     1     SAJEENA A.
           AGED 42 YEARS
           W/O. NOUSHAD, KP IX/691,
           KONNAKKOTTUVILA VEEDU, PEROOR CHERRY,
           KOTTAMKARA VILLAGE, THATTARKONAM P.O.,
           KOLLAM TALUK, KOLLAM DISTRICT, PIN-691005.

     2     NOUSHAD,
           AGED 48 YEARS
           S/O. ISMAILKUTTY, KP IX/691,
           KONNAKKOTTUVILA VEEDU, PEROOR CHERRY,
           KOTTAMKARA VILLAGE, THATTARKONAM P.O.,
           KOLLAM TALUK, KOLLAM DISTRICT, PIN-691005.

           BY ADVS.
           SRI.K.R.VINOD
           SMT.M.S.LETHA

RESPONDENTS:

     1     INDIAN OVERSEAS BANK
           KILIKOLLOOR BRANCH, 1ST FLOOR,
           METRO CENTRE BUILDINGS, KALLUMTHAZHAM JUNCTION,
           KILIKOLLOOR, KOLLAM DISTRICT, PIN-691004,
           REPRESENTED BY ITS BRANCH MANAGER.

     2     THE AUTHORIZED OFFICER,
           INDIAN OVERSEAS BANK, 1ST FLOOR,
           METRO CENTRE BUILDINGS, KALLUMTHAZHAM JUNCTION,
           KILIKOLLOOR, KOLLAM DISTRICT, PIN-691004.

           BY ADV. SRI SUNIL SHANKAR

     THIS WRIT PETITION       (CIVIL) HAVING     COME UP   FOR
ADMISSION ON 20.04.2021,       THE COURT ON     THE SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C)No.10118 of 2021              -2-




                            T.R. RAVI, J.
           ------------------------------------------------
                    W.P.(C)No.10118 of 2021
           --------------------------------------------------
             Dated this the 20th day of April, 2021
                            JUDGMENT

Admit. Standing Counsel takes notice for the respondent.

2. The writ petition has been filed challenging

proceedings initiated under the SARFAESI Act for recovery of

arrears of loan amount. Ext.P3 is the auction sale notice as per

which an amount of Rs.15,12,008/- along with interest accrued

and SARFAESI charges are due. The sale is scheduled on

22.4.2021. The learned counsel for the Bank submits that the

Bank is agreeable to grant reasonable instalments to the

petitioner which according to them is four instalments, provided

the payment is made before the date of sale fixed in Ext.P3.

Learned counsel for the petitioner submits that he will be able to

make a payment of Rs.1,00,000/- (Rupees One Lakh only) within

15 days and that the balance amount may be permitted to be

paid in 10 equal monthly instalments.

3. After hearing counsel on both sides, the writ petition is

disposed of permitting the petitioner to pay a sum of

Rs.1,00,000/- (Rupees One Lakh only) within 15 days from today

and to pay the balance amounts in eight equal monthly

instalments commencing from 01.06.2021 and the subsequent

instalments payable on or before the 5 th day of the succeeding

months. The sale which is notified as per Ext.P3 may go on, but

the same shall not be confirmed as long as the petitioner

complies with the direction to pay the amounts due in

instalments. In case of default in payment of any one of the

instalments, the respondent will be free to continue with the sale

proceedings.

Sd/-

T.R. RAVI JUDGE

dsn

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 THE COPY OF THE C.S.NO.42/2020 IN THE FILES OF COMMERCIAL COURT, KOLLAM.

EXHIBIT P2 THE COPY OF THE NOTICE OF SALE DATED 17.3.2021 ISSUED BY THE 1ST RESPONDENT UNDERSIGNED BY THE 2ND RESPONDENT.

EXHIBIT P3 TRUE COPY OF THE E AUCTION SALE NOTICE PREPARED BY THE 1ST RESPONDENT UNDERSIGNED BY THE 2ND RESPONDENT DATED 17.3.2021.