Jose P.V vs The Authorised Officer
2021 Latest Caselaw 6727 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

   THURSDAY, THE 25TH DAY OF FEBRUARY 2021 / 6TH PHALGUNA, 1942

                       WP(C).No.4957 OF 2021(T)


PETITIONER:

               JOSE P.V.
               AGED 59 YEARS
               S/O. VAREED, PANTHALUKKARAN HOUSE, MELOOR DESOM,
               MELOOR VILLAGE, CHALAKKUDY TALUK, THRISSUR DISTRICT-
               680 311.

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

RESPONDENTS:

      1        THE AUTHORISED OFFICER
               IRINJALAKUDA TOWN CO-OPERATIVE BANK LTD., NO.55, HEAD
               OFFICE, TANA SOUTH, IRINJALAKUDA, THRISSUR-680 121.

      2        IRINJALAKUDA TOWN CO-OPERATIVE BANK LTD.
               NO.55, HEAD OFFICE, TANA SOUTH, IRINJALAKUDA,
               THRISSUR, REPRESENTED BY ITS GENERAL MANAGER-680 121.

      3        IRINJALAKUDA TOWN CO-OPERATIVE BANK LTD.
               I.T.C. BANK LTD., MALA BRANCH, MAIN ROAD, MALA P.O.,
               THRISSUR, REPRESENTED BY ITS MANAGER - 680 732.

      4        THOMSON
               S/O. JOSEPH, CHANASSERY HOUSE, MADATHUMPADY DESAM,
               MADATHUMPADY VILLAGE, KODUNGALLUR TALUK, THRISSUR
               DISTRICT-680 733.

               R1-3 BY ADV. SRI.DEVAPRASANTH.P.J.



               SC- SRI. DEVAPRASANTH P.J

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4957 OF 2021(T)

                                    2

                              JUDGMENT

Dated this the 25th day of February 2021

Heard both sides.

2. The learned counsel for the petitioner submits that the

petitioner has availed financial assistance of Rs.20,00,000/- in the

year 2016 from the 3rd respondent, but he could not repay the loan in

due time. He was required to take bed rest, because of ailment and

because of pandemic Covid-19. He was required to stop his work,

which he was earlier doing. The learned counsel for the petitioner

submits that the petitioner is ready and willing to repay the entire

overdue amount with charges in twelve equated successive monthly

instalments. The learned counsel for the respondents opposed the

petition by contending that it was in the year 2019 that loan of

Rs.23.50 lakhs was availed by the petitioner and the term of that loan

is upto ten years. According to the respondents, the overdue amount

is around Rs.9,49,997/- and on 25.01.2021, sale notice was issued

and the sale is scheduled on 02.03.2021. The learned counsel for the

respondents further submits that if, the petitioner is ready and willing

to clear 1/3rd of the overdue amount and other charges prior to sale,

then, the Court may consider granting relief of instalments to the

petitioner.

WP(C).No.4957 OF 2021(T)

3. I have considered the submissions so advanced and also

perused the materials placed before me. In the facts and

circumstances of the instant case, the petition is disposed of with the

following orders.

The petitioner to pay the amount of Rs.1,00,000/- towards

overdue amount and other charges by 01/03/2021. He shall then clear

the entire overdue amount and other charges including interest in ten

equated successive monthly instalments commencing from

05.04.2021. In addition, the petitioner should regularly pay

instalments (EMI) also. If the petitioner complies with these directions

then the respondents shall keep the coercive action initiated under the

SARFAESI Act in abeyance. A single default on the part of the

petitioner shall entail the respondents to continue with the action

under the SARFAESI Act. No further extension of time shall be granted

to the petitioner in complying with these directions.

Sd/-

A.M.BADAR Nsd //true copy// JUDGE PA to Judge WP(C).No.4957 OF 2021(T)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE INTIMATION DATED 24.7.2019 ISSUED BY THE ASSISTANT EXECUTIVE ENGINEER, M.I. SUBDIVISION, CHALAKKUDY.

EXHIBIT P2 TRUE COPY OF THE WORK ORDER DATED 14.7.2020 ISSUED BY THE DIRECTOR OF PHYSICAL PLANT, KERALA AGRICULTURAL UNIVERSITY.

EXHIBIT P3 TRUE COPY OF THE MEDICAL CERTIFICATE DATED 2.1.2021 ISSUED BY THE MEDICAL SUPERINTENDENT, GOVERNMENT HOSPITAL, MALA.

EXHIBIT P4 TRUE COPY OF THE REPORT DATED 10.11.2020 OF PHC MELOOR.

EXHIBIT P5 TRUE COY OF THE RELEVANT PAGE OF PASSBOOK.

EXHIBIT P6 TRUE COPY OF THE RECEIPTS DATED 28.9.2017, 24.10.2019, 14.2.2020, 13.3.2020 AND 31.12.2020.

EXHIBIT P7 TRUE COPY OF THE NOTICE AS PER S.13(4) DATED 13.1.2021 ISSUED BY THE IST RESPONDENT ALONG WITH IT'S ENGLISH TRANSLATION.

EXHIBIT P8 TRUE COPY OF THE SALE NOTICE DATED 25.1.2021 ISSUED BY THE IST RESPONDENT ALONG WITH ITS ENGLISH TRANSLATION.