Krishnakumari P vs Karamana Co-Operative Urban Bank ...
2021 Latest Caselaw 5120 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.3473 OF 2021(H)


PETITIONER/S:

                KRISHNAKUMARI P.
                SREELAKSHMI,
                TC 6/341 (7), VARA-115/B,LAKE VIEW LANE,
                VATTIYOORKAVU P.O., THIRUVANANTHAPURAM

                BY ADV. SRI.S.MOHAMMED AL RAFI

RESPONDENT/S:

                KARAMANA CO-OPERATIVE URBAN BANK LIMITED NO. 1761
                REPRESENTED BY ASSISTANT GENERAL MANAGER/ AUTHORISED
                OFFICER, KARAMANA P.O.,
                TRIVANDRUM-695 002



                R1 BY SC, SRI. R S KALKURA

     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.3473 OF 2021

                                             2

                                  JUDGMENT

Dated this the 11th day of February 2021

Heard both sides.

2. Learned Counsel for the petitioner submits

that petitioner is not pressing the prayer in clause

No.1, challenging the action taken by the secured

creditor under the SARFAESI Act. However, the

petitioner is seeking the relief of instalment for

clearing the overdue amount of loan.

3. Learned Counsel for the respondent submits

that the entire overdue amount of loan should be

cleared in suitable instalments, and if the

petitioner agrees for the same, then the respondent

shall not take any coercive action.

4. Considering the submissions so made by the

parties, the petition is disposed of with the

following directions:

i) The petitioner to deposit an amount of Rs.1 lakh towards the payment of overdue amount by 17.02.2021 and she should clear the balance overdue amount in four equated WP(C).No.3473 OF 2021

monthly instalments commencing from 01.03.2021, 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 initiated against the petitioner.

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.3473 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE LETTER DATED 24.2.2020 ISSUED BY THE ADVOCATE COMMISSIONER

EXHIBIT P2 TRUE COPY OF THE SALE NOTICE DATED 6.1.2021 ALONG WITH ENGLISH TRANSLATION