Shaijumol vs The Authorised Officer
2021 Latest Caselaw 10535 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     MONDAY, THE 29TH DAY OF MARCH 2021 / 8TH CHAITHRA, 1943

                       WP(C).No.8166 OF 2021(U)


PETITIONER:

               SHAIJUMOL
               AGED 34 YEARS
               W/O. FIROSKHAN RESIDING AT HM HOUSE, MELATHIVILA,
               PULLOORKONAM, VIZHINJAM P.O. THIRUVANANTHAPURAM 695
               521.

               BY ADV. SRI.S.JUSTUS

RESPONDENTS:

      1        THE AUTHORISED OFFICER
               STRESSED ASSET RECOVERY BRANCH (SARB), STATE BANK OF
               INDIA, LMS COMPOUND OPP. MUSEUM WEST GATE, VIKAS
               BHAVAN P.O. THIRUVANANTHAPURAM 695 033.

      2        THE BRANCH MANAGER,
               STATE BANK OF INDIA, VIZHINJAM BRANCH, VIZHINJAM P.O.
               THIRUVANANTHAPURAM 695 521.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.8166 OF 2021(U)

                                      2

                                JUDGMENT

Dated this the 29th day of March 2021

Heard both sides.

2. The petitioner had availed an overdraft facility from the 2 nd

respondent Bank for Rs.12 lakhs for the purpose of carrying on the

business. The account of the petitioner became non-performing asset

in the year 2017. This has resulted in issuance of demand notice on

21.02.2019 under Section 13(2) of the SARFAESI Act. Subsequently

notice under Section 13(4) of the said act was also issued on

03.02.2021. By this petition, the petitioner is seeking for grant of 12

months time and instalments facility to pay off the entire arrears.

3. The learned counsel for the respondents submits that as of

now, the petitioner is in arrears of more than Rs.22.27 lakhs and the

respondents are willing to permit the petitioner to clear off the entire

outstanding amount in six instalments. As against this, the learned

counsel for the petitioner is praying for twelve instalments to clear off

the entire outstanding amount in his loan account. Considering the

fact that the respondents are willing to grant instalments to the

petitioner to clear off the outstanding amount of overdraft facility

availed by the petitioner, the petition is disposed of with the following

directions.

WP(C).No.8166 OF 2021(U)

The petitioner to pay the entire amount due and payable by him

along with interest and other charges to the respondents in ten

equated successive monthly instalments commencing from

05/04/2021. If the petitioner follows these directions, then the

respondents shall 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.8166 OF 2021(U)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 03.02.2021.

EXHIBIT P2 TRUE COPY OF THE RECEIPT DATED 31.12.2020.

EXHIBIT P3 TRUE COPY OF THE RINN SAMDHAN 20-21. SCHEME DATED 30.11.2020 ISSUED BY THE 2ND RESPONDENT.

EXHIBIT P4 TRUE COPY OF THE RECEIPT DATED 29.06.2020.