Biju P vs The Manager
2021 Latest Caselaw 6730 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.4893 OF 2021(J)


PETITIONER/S:

                BIJU P.,
                AGED 45 YEARS,
                S/O.PURUSHOTHAMAN NAIR, MANGALATHTHEKKE VEEDU,
                MALAYAMADAM, KILIMANOOR VILLAGE, CHIRAYINKEEZHU
                TALUK, THIRUVANANTHAPURAM DISTRICT - 695 601.

                BY ADVS.
                SRI.K.SIJU
                SMT.S.REKHA KUMARI
                SMT.S.SEETHA
                SMT.ANJANA KANNATH
                SMT.RENUKA VENU

RESPONDENT/S:

      1         THE MANAGER, KERALA STATE CO-OPERATIVE BANK (FORMERLY
                THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK),
                KILIMANOOR BRANCH, THIRUVANANTHAPURAM - 695 601.

      2         THE AUTHORISED OFFICER,
                KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE,
                EAST FORT P.O.,
                THIRUVANANTHAPURAM - 695 023.




                SC-SRI. THOMAS ABRAHAM

     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.4893 OF 2021

                                       2




                               JUDGMENT

Dated this the 25th day of February 2021

Heard both sides.

2. Learned Counsel for the petitioner argued that

the petitioner is a contractor by profession and he

had availed a cash credit facility from the 1 st

respondent bank on 15.07.2015. It is further argued

that, because of financial constraints and as payment

of bills of the work executed by the petitioner was

delayed, petitioner could not refund the financial

assistance availed by him. Learned Counsel for the

petitioner submits that the petitioner is desirous of

clearing the entire dues in atleast 15 instalments,

though in the petition, he has shown his willingness

to clear those dues in 20 instalments.

3. Learned Counsel for the respondents argued

that, as of now, the balance amount due is

Rs.36,87,406/- (Thirty Six Lakhs Eighty Seven Thousand

Four Hundred and Six only). Keeping in mind the fact WP(C).No.4893 OF 2021

that this cash credit facility was availed by the

petitioner in the year 2015, at the most 10

instalments can be granted to the petitioner. It is

further argued that, symbolic possession of the

secured asset has already been taken by the

respondents.

4. I have considered the submissions so advanced

and also perused the material placed before me.

5. Respondents are also agreeing for grant of

instalments to the petitioner for clearing the overdue

amount in respect of the financial assistance availed

by the petitioner. In this view of the matter, the

petition deserves to be disposed of with the following

directions:

i) Petitioner to clear the entire amount of financial assistance availed by him along with charges and interest, by paying the same in 15 equated monthly instalments commencing from 01.03.2021.

ii) If the petitioner abides by this direction, then the respondents shall keep WP(C).No.4893 OF 2021

the coercive action under the SARFAESI Act initiated against the petitioner in abeyance.

iii) Failure to comply with this direction given in this judgment shall entitle the respondents to continue with the action under the SARFAESI Act initiated against the petitioner.

iv) No further extension of time for compliance of this direction shall be granted to the petitioner.

The writ petition is disposed of accordingly.

Sd/-

A.M.BADAR

JUDGE

uu

25.2.2021 WP(C).No.4893 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 THE COPY OF NOTICE DATED 1/12/2020 ISSUED BY THE 2ND RESPONDENT TO THE MOTHER OF THE PETITIONER ALONG ITS ENGLISH TRANSLATION.

EXHIBIT P2 THE COPY OF NOTICE DATED 11/2/2021 ISSUED TO THE PETITIONER U/S.13(4) OF SARFAESI ACT ALONG ITS ENGLISH TRANSLATION.