Akash vs The Branch Manager
2021 Latest Caselaw 3739 Ker

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                 PRESENT

                   THE HONOURABLE MR. JUSTICE A.M.BADAR

      TUESDAY, THE 02ND DAY OF FEBRUARY 2021 / 13TH MAGHA,1942

                         WP(C).No.2545 OF 2021(P)


PETITIONER:

               AKASH
               AGED 27 YEARS
               S/O.CHANDRAN, KARANATH HOUSE, VELOOR DESOM,
               VELOOR VILLAGE, KUNNAMKULAM THALUK,
               THRISSUR - 680 601.

               BY ADV. SRI.MAHESH V.MENON

RESPONDENTS:

      1        THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK
               (ERSTWHILE THRISSUR DISTRICT CO-OPERATIVE BANK)
               KECHERI BRANCH, KECHERI P.O., THRISSUR DISTRICT,
               PIN - 680 501.

      2        THE AUTHORIZED OFFICER
               KERALA STATE CO-OPERATIVE BANK, SAHAKARANA SATHABADI
               MANDIRAM, KOVILAKATHUMPADAM, THRISSUR DISTRICT,
               PIN - 680 022.


OTHER PRESENT:

               SMT ANITHA GEORGE, SC.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.2545/2021                         2


                                    JUDGMENT

Dated this the 2nd day of February 2021

By this writ petition, the petitioner is seeking the following

reliefs:

(i) To direct the 1st respondent bank to regularize the loan account and allow the petitioner to remit the outstanding defaulted EMIs in 15 equal monthly instalments along with the regular EMIs by issue of a writ of mandamus or such other writ or order or direction.

(ii) Alternatively direct the 1st respondent bank to allow the petitioner to remit the outstanding liabilities in 24 equal monthly instalments by issue of a writ of mandamus or such other writ or order or direction.

2. Heard both sides. Learned counsel for the petitioner

argued that the petitioner is not desirous of challenging the steps

taken by the secured creditor under the SARFAESI Act but he

wants to regularize the loan account by repayment of the overdue

amount.

3. Learned counsel appearing for respondents is having no

objection to this course of action. She argued that not more than

seven instalments should be granted to the petitioner to clear the

overdue amount of loan.

4. I have considered the submissions so advanced. The

duly sworn testimony of the petitioner shows that the mother of

the petitioner suffered from cardiac problem and as such, the

petitioner was in financial crunch and could not remit the

instalments in due time. The loan was taken in the year 2018 and

it is for a period of ten years.

5. In this view of the matter, interest of justice would be

served with the following order:

The petitioner is permitted to clear the entire overdue

amount of loan in ten equated monthly instalments commencing

from 15.02.2021 apart from payment of regular EMIs. If the

petitioner complies with these directions, respondents shall keep

the action under the SARFAESI Act in abeyance. In case of single

default in compliance of this order, respondents may continue with

the action under the SARFAESI Act. The petitioner shall not be

granted any further time to comply the directions contained in this

judgment.

This writ petition is disposed of as above.

Sd/-

A.M.BADAR

JUDGE smp

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE PUBLIC NOTICE DATED 04/01/2021 ISSUED BY THE 2ND RESPONDENT UNDER 13(4) OF THE SARFAESI ACT AGAINST THE PROPERTY IN THE NAME OF FATHER OF THE PETITIONER.

EXHIBIT P1(a) ENGLISH TRANSLATION OF EXT.P1 NOTICE. RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

smp