Jijish.W.S vs The Branch Manager
2021 Latest Caselaw 1466 Ker

                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.374 OF 2021(V)


PETITIONER/S:

                JIJISH.W.S,AGED 44 YEARS
                JIJISH NIVAS, T.C.53/71,PAPPANAMKOD,
                THIRUVANANTHAPURAM DISTRICT, PIN-695 018

                BY ADV. SRI.V.MAHENDRANATH

RESPONDENT/S:

                THE BRANCH MANAGER,
                KERALA STATE CO OPERATIVE BANK
                PALAYAM BRANCH, THIRUVANANTHAPURAM-695 033

                R1 BY ADV. SHRI.THOMAS ABRAHAM

     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.374 OF 2021                  2



                               JUDGMENT

Dated this the 14th day of January 2021

Heard both sides.

2. The petitioner debtor, by this petition, is praying for

directing the respondent to keep coercive proceedings under the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Securities Interest Act ('the SARFAESI Act' for

brevity) in abeyance by showing willingness to pay overdue

amount of loan with payment of regular EMI in instalments.

3. Learned counsel for the petitioner submits that the

petitioner had availed loan for business and as on date, overdue

amount in the loan account is Rs.8,97,765/-(Rupees eight lakhs

ninety seven thousand seven hundred and sixty five only). He

undertakes to clear that amount in 10 equal monthly instalments

apart from regular payment of EMIs.

4. Learned Standing Counsel appearing for the 1 st

respondent submits that the 1st respondent bank has no objection

if the overdue amount is cleared by monthly instalments, but those

instalments must not exceed eight in number.

5. I have considered the submissions so advanced.

Considering the financial crisis suffered by the petitioner who

happens to be a small entrepreneur because of Covid pandemic,

interest of justice would be served, if instalments are granted for

clearing the overdue amount and for repayment of loan. The writ

petition is disposed of, with the following direction:-

The petitioner is directed to clear the entire overdue amount

of loan as of now in ten equated monthly instalments starting from

10.02.2021, apart from payment of regular EMI. If the petitioner

abides by this direction, then the respondent shall keep the action

under the SARFAESI Act under abeyance.

6. Needless to mention that, as this order is passed by

consent of parties and as the relief is granted in peculiar

circumstances of the case, despite pendency of action under the

SARFAESI Act, no further extension of time either for payment of

instalments of overdue amount or for EMI shall be allowed.

The writ petition is accordingly disposed of.

Sd/-

                                                  A.M.BADAR
ajt                                                  JUDGE





                           APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1             TRUE COPY OF THE NOTICE DATED 01.10.2020
                       ISSUED BY THE RESPONDENT