Kerala High Court
M.A. Anzar Mohammed vs The Branch Manager on 14 January, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
THURSDAY, THE 14TH DAY OF JANUARY 2021 / 24TH POUSHA, 1942
WP(C).No.28156 OF 2020(T)
PETITIONER/S:
M.A. ANZAR MOHAMMED, AGED 54 YEARS
S/O.M.ABDUL AZEEZ, AA NUTS, KPXII/206C,
SHAMNA GARDENS, KILIKOLLOOR, KOLLAM, KERALA-691 004.
BY ADV. SRI.K.A.SIYAD
RESPONDENT/S:
1 THE BRANCH MANAGER, HBD FINANCIAL SERVICES,
KADAPPAKKADA P.O., KOLLAM-691 008.
2 THE AUTHORIZED OFFICER, HBD FINANCIAL SERVICES,
68/2-4TH FLOOR, LOYAL TOWERS, GREAMS ROAD,
THOUSAND LIGHTS, CHENNAI-600 006.
R1-2 BY ADV. SRI.P.PAULOCHAN ANTONY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.28156 OF 2020 2
JUDGMENT
Dated this the 14th day of January 2021
Heard both sides.
2. The petitioner has availed loan against a property for an
amount of Rs.1.28 Crores from the 1st respondent. It is contended by the
learned counsel appearing for the petitioner that because of pandemic
Covid -19, there was default in paying few instalments of the business
loan the respondents have initiated proceedings under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Securities
Interest Act ('the SARFAESI Act' for brevity). The petitioner has filed
Ext.P5 representation for grant of instalments, for repaying overdue
amount of the loan as well as for regularisation of the loan account.
3. Learned counsel appearing for the 1 st respondent submits
that as on 14.01.2021, overdue amount of loan is Rs.17,23,700/- and
the respondent is willing to keep the action taken under the SARFAESI
Act in abeyance, if the petitioner deposits an amount of Rs.7 lakhs lakhs
by 21.03.2021 along with regular instalments and he may deposit the
balance overdue amount in suitable instalments.
4. Considering the willingness shown by the 1 st respondent for
regularising the loan account on repayment of overdue amount in
instalments as well as keeping in mind the fact that the cashew industry
was badly affected by pandemic Covid 19, the following order:-
The petitioner to repay the overdue amount of the loan account by
seven monthly equated instalments apart from deposit of Rs.7,00,000/-
(Rupees seven lakhs only) towards overdue amount of loan by
21.03.2021, apart from due payment of regular instalments. The
balance overdue amount of loan be deposited with respondent No.1 in
seven equated monthly instalments starting from 21.04.2021 alongwith
regular EMI. On the petitioner doing so, respondent No.1 shall keep the
SARFAESI action in abeyance. In case, the petitioner commits any
default in complying the above order, the respondents shall be free to
continue the action under the SARFAESI Act against the petitioner.
5. Considering the fact that this extra ordinary relief is granted
to the petitioner in the peculiar circumstances, no further request for
extension of time either to pay overdue amount or to pay EMI is allowed.
The writ petition is accordingly disposed of.
Sd/-
A.M.BADAR
ajt JUDGE
APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE PHOTOCOPY OF THE REQUEST SUBMITTED
BEFORE THE 1ST RESPONDENT SEEKING
MORATORIUM DATED 05.04.2020.
EXHIBIT P2 TRUE PHOTOCOPY OF THE LOAN RECALLING NOTICE
ISSUED BY THE RESPONDENT BANK DATED
21.07.2020.
EXHIBIT P3 TRUE PHOTOCOPY OF THE REQUEST SUBMITTED
BEFORE THE 1ST RESPONDENT DATED 10.08.2020.
EXHIBIT P4 TRUE PHOTOCOPY OF THE LETTER ISSUED BY THE
AUTHORIZED SIGNATORY OF THE RESPONDENT BANK
DATED 05.09.2020.
EXHIBIT P5 TRUE PHOTOCOPY OF THE REQUEST SUBMITTED
BEFORE THE 1ST RESPONDENT DATED 23.09.2020.
EXHIBIT P6 TRUE PHOTOCOPY OF THE 13(2) NOTICE ISSUED
BY THE 2ND RESPONDENT DATED 28.10.2020.
