Mishal .M.Dasan vs The Authorized Officer
2021 Latest Caselaw 14103 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR. JUSTICE A.M.BADAR
     WEDNESDAY, THE 7TH DAY OF JULY 2021 / 16TH ASHADHA, 1943
                        WP(C) NO. 9685 OF 2021
PETITIONER:

          MISHAL. M. DASAN
          AGED 35 YEARS
          D/O. LATE DASAN,
          MISHALS VILLA,
          PUTHIYATHURA P.O.,
          THIRUVANANTHAPURAM - 695 526.
          BY ADVS.
          SRI. C.A.CHACKO
          SMT. C.M.CHARISMA


RESPONDENTS:

    1     THE AUTHORIZED OFFICER
          KERALA STATE CO-OPERATIVE BANK LTD.,
          OVER BRIDGE BRANCH,
          THIRUVANANTHAPURAM - 695 001.
    2     THE BRANCH MANAGER,
          KERALA STATE CO-OPERATIVE BANK LTD.,
          OVER BRIDGE BRANCH,
          THIRUVANANTHAPURAM - 695 001.

          BY ADV SHRI. THOMAS ABRAHAM, SC



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.07.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C). No.9685 OF 2021

                                  2




                              JUDGMENT

Heard both sides.

2. The petitioner had availed secured loan of Rs.20

Lakhs in the year 2017 from the 2 nd respondent Bank for

renovation of her house. The term of that loan is stated to be

up to 2030. The petitioner has defaulted in repayment of

loan because of financial crisis caused due to medical

treatment of her father. This has resulted in initiation of

coercive action for recovery of the amount of loan by the 2 nd

respondent by issuance of notice under Section 13(2) of the

SARFAESI Act.

3. The learned counsel for the petitioner submits

that, though the petitioner has sought for fifteen instalments

for clearing the overdue amount, the petitioner undertake to

clear the entire overdue amount in twelve instalments apart

from payment of regular instalments.

4. The learned counsel for the respondents submits

that, if the statement made before the Court is duly adhered WP(C). No.9685 OF 2021

to then the Bank may keep the pending action under the

SARFAESI Act in abeyance.

In this view of the matter, the petition is disposed of

with the following directions:

The petitioner to clear the entire overdue amount which

is stated to be more than Rs.5,33,000/- in twelve successive

equated monthly instalments commencing from 09.08.2021.

In addition, the petitioner should regularly pay the EMIs. If

the petitioner complies with these directions, the respondents

shall keep coercive action under the SARFAESI Act initiated

against the petitioner in abeyance. A single default on the

part of the petitioner in compliance with these directions shall

entail the respondents to continue with the coercive action

initiated against the petitioner. No further extension of time

shall be granted to the petitioner for compliance with these

directions.

Sd/-

A.M.BADAR JUDGE

SPR WP(C). No.9685 OF 2021

APPENDIX OF WP(C) 9685/2021 PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF DEMAND NOTICE DATED 18.12.2020 ISSUED BY THE BANK.

EXHIBIT P2 TRUE COPY OF NOTICE DATED 08.02.2021 ISSUED BY 1ST RESPONDENT UNDER SECTION 13(2) OF THE ACT.

     RESPONDENT'S/S EXHIBITS:    NIL.