Anil Kumar K.G vs Kerala State Co-Operative Bank ...
2021 Latest Caselaw 10142 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

    THURSDAY, THE 25TH DAY OF MARCH 2021 / 4TH CHAITHRA, 1943

                       WP(C).No.6238 OF 2021(D)


PETITIONER:

               ANIL KUMAR K.G
               AGED 37 YEARS
               S/O.T.R.GOPALAKRISNAN,
               RESIDING AT KOCHUKALEECKAL, NANNADU,
               THIRUVANVANDOOR.P.O, ALAPPUZHA-689109.

               BY ADVS.
               SRI.R.SUDHISH
               SHRI.MITHUN P.

RESPONDENTS:

      1        KERALA STATE CO-OPERATIVE BANK LIMITED
               ALAPPUZHA BRANCH,THIRUVAMBADI,
               CIVIL STATION WARD, ALAPPUZHA-688012.

      2        AUTHORIZED OFFICER,
               UNDER SECURITISATION AND RECONSTRUCTION OF FINANCIAL
               ASSETS AND ENFORCEMNT SECURITY INTEREST ACT, KERALA
               STATE CO-OPERATIVE BANK LIMITED, ALAPPUZHA BRANCH,
               THIRUVAMBADI,
               CIVIL STATION WARD, ALAPPUZHA-688012.

               BY SRI.THOMAS ABRAHAM, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.6238/2021                     2


                               JUDGMENT

Dated this the 25th day of March 2021

Heard both sides.

2. The petitioner had availed housing loan of Rs.15 lakhs

from the respondent-Bank, term of which is yet to complete. It is

averred by the petitioner that because of Covid-19 pandemic and

the lockdown imposed, he was not in a position to repay the loan

within due time and now he wants to regularise that loan in

instalments.

3. Learned Standing Counsel appearing for the respondent-

Bank submits that as on 15.03.2021, the amount due and payable

is Rs.18,91,789/- and the overdue amount is about

Rs.7,17,409/-. He further submits that the Bank is ready to grant

12 instalments to the petitioner for clearing the overdue amount.

4. In this view of the matter, this writ petition is disposed of

with the following directions:

The petitioner to clear the entire overdue amount with

interest and incidental charges in 12 equated successive monthly

instalments commencing from 30.03.2021. In addition, the

petitioner should also pay the EMIs regularly. If the petitioner

complies with these directions, then 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

smp

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT UNDER SECTION13(2)OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT SECURITY INTERES ACT DATED 15.01.2020. RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

smp