Pramod Krishnan K vs Karamana Co-Operative Urban Bank ...
2021 Latest Caselaw 5751 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                              PRESENT

                THE HONOURABLE MR. JUSTICE A.M.BADAR

    WEDNESDAY, THE 17TH DAY OF FEBRUARY 2021 / 28TH MAGHA,1942

                      WP(C).No.4026 OF 2021(C)


PETITIONER:

              PRAMOD KRISHNAN K.
              AGED 41 YEARS
              S/O. KRISHNAN, TC 50/481(3), KRISHNA, KALADY,
              KARAMANA P. O., THIRUVANANTHAPURAM.

              BY ADV. SRI.S.MOHAMMED AL RAFI

RESPONDENT:

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




              SC-SRI. R.S.KALKURA

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
17.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4026 OF 2021(C)

                                   2

                            JUDGMENT

Dated this the 17th day of February 2021

Heard both sides.

2. The learned counsel for the petitioner submits that the

petitioner has obtained a loan of Rs.5,00,000/- in the year 2014 and

the term of loan is for ten years. It is argued that now the Advocate

Commissioner has issued notice for taking possession of the secured

assets on 26.02.2021 and the petitioner is willing to pay an amount of

Rs.75,000/- and he shall remit the balance overdue amount in six

equal instalments.

3. The learned counsel for the respondents vehemently

opposed this petition by submitting that on two occasions, the

petitioner had availed equitable relief from this Court. It is further

argued by the learned counsel for the respondent that judgments at

Ext.P1 and P2 were not followed by the petitioner, though this Court

had granted him time to regularize this loan account. Learned counsel

for the respondents further argued that the entire overdue amount is

Rs.1,85,860/- and the petitioner should clear the same by the end of

March, 2021.

4. I have considered the submissions so advanced.

5. It is seen that the petitioner has approached this Court on WP(C).No.4026 OF 2021(C)

two occasions and had sought similar relief as is prayed in the instant

petition. As stated by the learned counsel for the respondent, the

petitioner has not complied with any of these judgments. The

judgment at Ext.P2 directs the petitioner to pay the overdue amount

in eight equal instalments with a further direction that on failure, the

benefit granted shall stand vacated.

6. In the light of the fact that the petitioner has approached

this Court twice for seeking similar relief and has failed to comply with

the directions of this Court, the petition is disposed of with the

following directions.

If the petitioner clears the entire overdue amount of

Rs.1,85,860/- by paying the same to the respondent by the end of

March 2021 and if he continues to pay the monthly instalments

regularly, the respondent shall keep the pending SARFAESI action in

abeyance. In case of single default, the respondent is permitted to

continue with the coercive action under the SARFAESI Act initiated

against the petitioner. No further extension of time shall be granted for

complying with this direction.

Sd/-

A.M.BADAR Nsd //true copy// JUDGE PA to Judge WP(C).No.4026 OF 2021(C)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE JUDGMENT DATED 05.02.16 IN W.P.(C) NO.726/16.

EXHIBIT P2 TRUE COPY OF THE JUDGMENT DATED 22.08.2019 IN W.P.(C) NO.22578/2019.

EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 10.02.2021 ISSUED BY THE ADVOCATE COMMISSIONER WITH TRANSLATION.