Sivadasan vs The Branch Manager
2021 Latest Caselaw 10595 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.6844 OF 2021(E)


PETITIONER/S:

                SIVADASAN, AGED 45 YEARS
                S/O. MADHAVAN, PANTHAYIL HOUSE, KANDANISSERY DESOM,
                KANDANASSERY VILLAGE, KUNNAMKULAM TALUK, THRISSUR DT.

                BY ADVS.
                SMT.M.R.REENA
                SRIP.S.SUJETH

RESPONDENT/S:

      1         THE BRANCH MANAGER
                THE KERALA STATE CO-OPERATIVE BANK.,
                KOONNAMMOOCHI BRANCH, THRISSUR DT 682 022

      2         THE AUTHORIZED OFFICER,
                THE KERALA STATE CO-OPERATIVE 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
29.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.6844 OF 2021                 2



                               JUDGMENT

Dated this the 29th day of March 2021

Heard both sides.

2. The petitioner had availed a loan of Rs.4,50,000/-

(Rupees four lakhs and fifty thousand only) in the year 2018 for a

term of 10 years. He could not repay the same because of

financial constraints. That is how, action under the SARFAESI Act

has been initiated by the respondents. The petitioner wants to

get the loan account regularised by clearing the overdue amount

in instalments.

3. Learned Standing counsel for the respondent submits

that as of now the overdue amount is about Rs.1,51,635/- and

the petitioner can clear that overdue amount by paying

Rs.25,000/- in this month and balance amount in five equal

monthly instalments.

4. Learned counsel for the petitioner is seeking eight

instalments for clearing the liability.

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

of with the following directions:-

The petitioner is directed to pay an amount of Rs.25,000/-

(Rupees twenty five thousand only) on or before 31.03.2021. The

petitioner should also clear the balance overdue amount with

interest and other incidental charges in eight equated successive

monthly instalments commencing from 29.04.2021. I addition,

the petitioner should pay EMIs regularly. If the petitioner complies

with these directions, respondents shall keep the coercive action,

initiated against the petitioner under the SARFAESI Act, in

abeyance. In case of a single default, the respondents are at

liberty to continue the action under the SARFAESI Act initiated

against the petitioner. No further extension of time for

compliance of this direction shall be granted to the petitioner.

Sd/-

                                                   A.M.BADAR
ajt                                                 JUDGE





                            APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1              TRUE COPY OF THE POSSESSION NOTICE DATED

06-02-2021 WITH TRANSLATION ISSUED BY THE 2ND RESPONDENT

EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 17-

02-2021 SENT BY THE PETITIONER.