Kerala High Court
Abdul Nasar K vs The Manjeri Urban Co-Operative ... on 13 July, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
TUESDAY, THE 13TH DAY OF JULY 2021 / 22ND ASHADHA, 1943
WP(C) NO. 7581 OF 2021
PETITIONER/S:
ABDUL NASAR K.,AGED 52 YEARS
S/O.MOHAMMED, KARUTHEDATH HOUSE, NARUKARA P.O.,
NELLIKKATHODI, THADATHIPARAMBU, MANJERI,
MALAPPURAM DISTRICT.
BY ADV C.M.MOHAMMED IQUABAL
RESPONDENT/S:
1 THE MANJERI URBAN CO-OPERATIVE BANK LIMITED
HEAD OFFICE, COURT ROAD, MANJERI P.O., MALAPPURAM
DISTRICT, PIN - 676 121, REPRESENTED BY ITS
GENERAL MANAGER.
2 THE MANAGER, THE MANJERI URBAN CO-OPERATIVE BANK
LIMITED,LADIES BRANCH, KORAMBAYIL CORPORATE MALL,
KOZHIKODE ROAD, MANJERI P.O., MALAPPURAM DISTRICT,
PIN - 676 121.
3 THE AUTHORIZED OFFICER
THE MANJERI URBAN CO-OPERATIVE BANK LIMITED, HEAD
OFFICE, COURT ROAD, MANJERI P.O., MALAPPURAM
DISTRICT, PIN - 676 121.
BY ADV SHRI.K.VIDYASAGAR
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 13.07.2021, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) NO. 7581 OF 2021
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A.M.BADAR, J.
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WP(C) NO. 7581 OF 2021
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Dated this the 13th day of July, 2021
JUDGMENT
The learned standing counsel appears for the
respondents.
2. The learned counsel for the petitioner submits
that because of the demonetization, there was loss in
business and therefore, the petitioner could not repay the
loan amount of 14.50 lakhs taken by him from the
respondents. The petitioner wants to clear the entire loan
account in instalments.
3. The learned counsel for the respondents submits
that it was a cash credit facility of Rs.14,50,000/- which
was availed by the petitioner on 24.3.2016 for a period of
WP(C) NO. 7581 OF 2021
one year. However, the petitioner could not clear the
amount of cash credit availed by him and therefore, the
arrears in the loan account are about Rs.26,36,054/-.
4. The learned counsel for the respondents submits
that the petitioner can clear those arrears within 10 monthly
instalments.
5. In view of the fact that the respondents are
willing to grant 10 instalments to the petitioner, this
petition is disposed of with the following directions:-
The petitioner to clear the entire outstanding
amount in the cash credit facility account availed by
him from the respondents in ten successive equated
monthly instalments, commencing from 2.8.2021. If
the petitioner follows the direction so given, the
respondents can keep the coercive steps under the
SARFAESI Act in abeyance. A single default in
compliance with the direction shall entitle the
WP(C) NO. 7581 OF 2021
respondents to continue with the action under the
SARFAESI Act. No further extention of time shall be
granted in any circumstances to the petitioner.
sd
A.M.BADAR, JUDGE.
dl/
WP(C) NO. 7581 OF 2021
APPENDIX OF WP(C) 7581/2021
PETITIONER ANNEXURE
EXHIBIT P1 THE TRUE COPY OF THE RELEVANT PAGES OF
THE PASSBOOK OF THE PETITIONER.
EXHIBIT P2 THE TRUE COPY OF THE SALE NOTICE ISSUED
BY THE 3RD RESPONDENT DATED 17/3/2021
WITH ITS ENGLISH TRANSLATION.
EXHIBIT P3 THE TRUE COPY OF THE REPRESENTATION
SUBMITTED BY THE PETITIONER BEFORE THE
1ST RESPONDENT DATED 18/3/2021.
EXHIBIT P4 THE TRUE COY OF THE COMMUNICATION ISSUED
BY THE 1ST RESPONDENT DATED 29.3.2021.
