Bissy vs The Branch Manager
2021 Latest Caselaw 10393 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 26TH DAY OF MARCH 2021 / 5TH CHAITHRA, 1943

                       WP(C).No.5978 OF 2021(V)


PETITIONER:

               BISSY
               AGED 45 YEARS
               S/O. BALAKRISHNAN, URALATH HOUSE, VELLANI DESOM,
               KARALAM VILLAGE, MUKUNDAPURAM TALUK, THRISSUR DIST.

               BY ADV. SMT.M.R.REENA

RESPONDENTS:

      1        THE BRANCH MANAGER
               THE KERALA STATE CO-OP BANK, THRISSUR MORNING BRANCH,
               THRISSUR DT. PIN-680 001

      2        THE AUTHORIZED OFFICER,
               THE KERALA STATE CO-OP BANK LTD., HEAD OFFICE,
               SAHAKARANA SAPTHADHI MANDIRAM, TUDA ROAD,
               KOVILAKATHUPADAM, THIRUVAMBADY P.O, THRISSUR-680 022

               R1-2 BY SRI.P.C.SASIDHARAN, SC, THRISSUR DISTRICT
               CO.OPERATIVE BANK LTD.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.5978 OF 2021(V)

                                      2

                             JUDGMENT

Dated this the 26th day of March 2021

Heard both sides.

2. A loan of Rs.25 laksh was taken in the year 2015 from the

1st respondent for a term of 10 years. The same could not be repaid by

instalments granted by the respondents. The petitioner now wants to

get the loan regularized. The learned counsel for the petitioner

submits that petitioner is willing to pay an amount of Rs. 3,00,000/-

prior to 31.03.2021 and the balance amount can be paid by him in ten

instalments.

3. Learned counsel for the respondents submits that overdue

amount is about Rs.15,19,437/- and the action under the SARFAESI

Act has reached upto the stage of taking possession. However, the

respondents have shown their willingness to grant instalments to the

petitioner and therefore the order.

4. The petitioner to pay an amount of Rs.3,00,000/- on or

before 31.03.2021 in order to discharge his liability towards the

overdue amount. He should pay the balance overdue amount with

interest and other charges in ten equated successive monthly

instalments commencing from 26.04.2021. In addition, the petitioner

should also pay EMIs regularly. If the petitioner complies with these WP(C).No.5978 OF 2021(V)

directions, then respondents should keep the action under the

SARFAESI Act, in abeyance. In case of single default, the respondents

shall continue with the action under the SARFAESI Act. No further

extension of time shall be granted to the petitioner for compliance with

these directions.

SD/-

A.M.BADAR Nsd //TRUE COPY// JUDGE PA TO JUDGE WP(C).No.5978 OF 2021(V)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE POSSESSION NOTICE DATED 15.02.2020 WITH TRANSLATION.

EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 14.02.2021 SENT BY THE PETITIONER.