Ameer Faizal vs Nedumangad Co-Operative Urban ...
2021 Latest Caselaw 4736 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     TUESDAY, THE 09TH DAY OF FEBRUARY 2021 / 20TH MAGHA,1942

                        WP(C).No.3274 OF 2021(H)


PETITIONER/S:

                AMEER FAIZAL,
                AGED 40 YEARS,
                S/O. ABDUL RASHEED SAHIB, PAVIZHAMANA, MANCHA,
                NEDUMANGAD, THIRUVANANTHAPURAM DISTRICT.

                BY ADV. SRI.LATHEESH SEBASTIAN

RESPONDENT/S:

      1         NEDUMANGAD CO-OPERATIVE URBAN BANK LTD.,
                NO.3193, NEDUMANGAD P. O., THIRUVANANTHAPURAM -
                695541., REPRESENTED BY ITS SECRETARY.

      2         AUTHORIZED OFFICER,
                UNDER THE SARFAESI ACT, NEDUMANGAD CO-OPERATIVE URBAN
                BANK LTD., NO.3193, NEDUMANGAD P. O.,
                THIRUVANANTHAPURAM - 695541.




                SC FOR BANK---ADV. VISHNU KURUP .

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.3274 OF 2021

                                           2

                                      JUDGMENT

Dated this the 9th day of February 2021

Heard both sides.

2. Learned Counsel for the petitioner argued

that the petitioner wants to clear the entire

overdue amount apart from regular payment of EMI's,

and therefore, he be permitted to repay the overdue

amount in five equated monthly instalments.

Learned Counsel for the respondents have no

objection by this course of action sought to be

adopted by the petitioner.

2. Hence, the petition is disposed of with the

following directions:

i) the petitioner to clear the entire overdue loan amount in five equated successive monthly instalments commencing from 26.02.2021, apart from regular payment of EMI's.

ii) if the petitioner abides by this direction, the respondents shall keep the coercive action under SARFAESI Act in abeyance WP(C).No.3274 OF 2021

iii) A single default in compliance with this direction shall entitle the respondents to continue with the coercive action for recovery of loan.

iv) Needless to mention that no extension of time for compliance with this direction shall be granted to the petitioner.

The Writ Petition is disposed of accordingly.

Sd/-

A.M.BADAR

JUDGE

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9.2.2021 WP(C).No.3274 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 21.01.2020.

EXHIBIT P2 TRUE COPY OF THE NOTICE OF THE ADVOCATE COMMISSIONER DATED 28.01.2021 WITH ENGLISH TRANSLATION.

EXHIBIT P3 TRUE COPY OF THE REPRESENTATION OF THE PETITIONER DATED 30.01.2021.