Davis @ David vs The Authorised Officer
2021 Latest Caselaw 6621 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

  WEDNESDAY, THE 24TH DAY OF FEBRUARY 2021 / 5TH PHALGUNA, 1942

                       WP(C).No.4469 OF 2021(G)


PETITIONERS:

      1        DAVIS @ DAVID
               AGED 63 YEARS
               S/O. ANTHONY, MANAVALAN HOUSE, MALA DESOM, VADAMA
               VILLAGE, CHALAKUDY TALUK, THRISSUR DSITRICT-680 732

      2        JANNET DAVID
               AGED 60 YEARS
               W/O. DAVIS @ DAVID, MANAVALAN HOUSE, MALA DESOM,
               VADAMA VILLAGE, CHALAKUDY TALUK, THRISSUR DSITRICT-
               680 732

               BY ADVS.
               SRI.FRANCO T.J.
               SRI.G.SANTHOSH KUMAR (P).

RESPONDENTS:

      1        THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE
               BANK LTD.
               SAHAKARANA SATHABDTHI MANDIRAM, KOVILAKATHUMPADAM,
               THIRUVAMBADI P.O., THRISSUR-680 022

      2        THE KERALA STATE CO-OEPRATIVE BANK LTD.,
               ( KERALA BANK), P.B.NO.6515, CO.BANK TOWER, PALAYAM,
               TRIVANDRUM-695 033, REP BY CHIEF GENERAL MANAGER,
               KERALA CO-OPERATIVE BANK LTD

      3        THE KERALA STATE CO-OPERATIVE BANK LTD,
               (KERALA BANK), ANNAMANADA BRANCH, PIN-680 741, REP BY
               ITS MANAGER


OTHER PRESENT:

               SC- SRI. P.C. SASIDHARAN

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4469 OF 2021(G)

                                                 2

                                       JUDGMENT

Dated this the 24th day of February 2021

Heard both sides.

2. The learned counsel for the petitioners argued that the

petitioners have availed loan of Rs.25,00,000/- from the 3 rd

respondent for dairy business. However, in the flood, business of the

petitioners suffered. The entire machinery was destroyed. Cows and

Calf owned by him were dead and the entire stock was lost. That is

how, the petitioner could not repay the instalments regularly resulting

in declaration of loan as non-performing asset. However the

petitioners now want to clear the entire overdue amount in

instalments. It is further argued by the learned counsel for the

petitioner that in order to show his bonafides even on 20.02.2021, the

petitioner has paid an amount of Rs.25,000/- for discharging his

liability.

3. The learned counsel for the respondents opposed the

petition by submitting that the term of the loan is up to the year 2027

and the overdue amount is about Rs.7,39,698/-. He submits that the

petitioners be directed to clear the entire overdue amount in eight

instalments.

4. I have considered the submissions so advanced. As the WP(C).No.4469 OF 2021(G)

petitioners want to clear the entire overdue amount and other charges

and the respondents are also ready to accept the overdue amount of

the loan, the petition can be disposed of with the following direction.

The petitioners to pay the entire overdue amount along with

other charges in twelve equated successive monthly instalments

commencing from 15/03/2021. In addition, petitioners should also pay

EMIs regularly. If the petitioners comply with this direction, the

respondents shall keep the coercive action under the SARFAESI Act in

abeyance. In case of single default by the petitioners, the respondents

shall be at liberty to continue with the coercive action under the

SARFAESI Act initiated against the petitioners. No further extension of

time for complying with this direction shall be granted to the

petitioners.

Sd/-

A.M.BADAR Nsd //true copy// JUDGE PA to Judge WP(C).No.4469 OF 2021(G)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE DISCHARGE SUMMARY DATED 30.10.2019 ISSUED FROM LISIE HOSPITAL ERNAKULAM

EXHIBIT P2 TRUE COPY OF THE DISCHARGE SUMMARY ISSUED BY ST.JAMES HOSPITAL CHALAKUDY DATED 10.10.2016

EXHIBIT P3 TRUE COPY OF THE STATEMENT OF ACCOUNTS DATED 16.02.2021 IN FAVOUR OF THE 1ST PETITIONER

EXHIBIT P4 TRUE COPY OF THE NOTICE DATED 04.12.2020 ISSUED TO THE PETITIONERS ALONG WITH ENGLISH TRANSLATION

EXHIBIT P5 TRUE COPY OF THE POSSESSION NOTICE DATED 15.02.2021 ISSUED BY THE 1ST RESPONDENT ALONG WITH ENGLISH TRANSLATION