Saji Basheer vs Federal Bank Of India
2021 Latest Caselaw 5118 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

    THURSDAY, THE 11TH DAY OF FEBRUARY 2021 / 22ND MAGHA,1942

                        WP(C).No.3486 OF 2021(I)


PETITIONER/S:

                SAJI BASHEER,
                AGED 49 YEARS,
                S/O BASHEER,TC 10/7478,SULTHANA,MANNAMOOLA,
                PEROORKADA.P.O,THIRUVANANTHAPURAM DISTRICT-695005.

                BY ADV. SRI.P.ANOOP (MULAVANA)

RESPONDENT/S:

      1         FEDERAL BANK OF INDIA,
                PATTOM BRANCH,THIRUVANANTHAPURAM DISTRICT-695004,
                REPRESENTED BY ITS BRANCH MANAGER.

      2         THE AUTHORIZED OFFICER,
                FEDERAL BANK OF INDIA,PATTOM BRANCH,
                THIRUVANANTHAPURAM DISTRICT-695004.



                R1 & R2 BY ADV LEO GEORGE --SC

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.3486 OF 2021

                                       2

                               JUDGMENT

Dated this the 11th day of February 2021

Heard both sides.

2. The petitioner has availed a housing loan of

Rs.22 lakhs from the 1st respondent bank. However,

because of financial constraints, the petitioner

could not remit the instalments regularly, resulting

in recall of entire loan amount by issuance of notice

under Section 13(2) of the SARFAESI Act.

3. Learned Counsel for the petitioner submits

that the petitioner shall clear the entire overdue

amount in ten monthly instalments, apart from regular

payment of EMI's. Learned Counsel for the

respondents submit that, the respondents shall keep

the coercive action in abeyance if the petitioner

complies with the statement recording payment of

overdue amount in ten equated monthly instalments,

apart from regular payment of EMI's.

4. In this view of the matter, the petition is

disposed of with the following directions: WP(C).No.3486 OF 2021

i) The petitioner to clear the entire overdue amount as on date in 10 equated successive monthly instalments commencing from 25.02.2021, apart from regular payment of EMI's.

ii) If the petitioner complies with this direction, the respondent shall keep the coercive action under the SARFAESI Act in abeyance.

iii) A single default in complying with this order shall entitle the respondent to continue with the coercive action under the SARFAESI Act.

iv) Petitioner shall not be granted any further extension of time for compliance with this direction.

The Writ Petition is disposed of accordingly.

Sd/-

A.M.BADAR

JUDGE

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11.2.2021 WP(C).No.3486 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 04.01.2021.