Hemalal vs The Branch Manager
2021 Latest Caselaw 10596 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.6811 OF 2021(B)


PETITIONER/S:

                HEMALAL, AGED 38 YEARS
                S/O.APPUKUTTAN, SANKARAMKULAM HOUSE,
                PONNUKKARA DESOM, PUTHUR VILLAGE,
                THRISSUR TALUK, THRISSUR DISTRICT.

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

RESPONDENT/S:

      1         THE BRANCH MANAGER, THE KERALA STATE CO-OP. BANK,
                OLLUR BRANCH, THRISSUR DISTRICT-680 022.

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

                R1-2 BY ADV. SRI.P.C.SASIDHARAN


                SRI. P.C SASIDHARAN, STANDING COUNSEL

     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.6811 OF 2021                       2



                               JUDGMENT

Dated this the 29th day of March 2021

Heard both sides.

2. Petitioner had taken a loan of Rs.11,00,000/- (Rupees

eleven lakhs only) from the 1st respondent on 28.11.2018 and the

term of the loan is 121 months. She defaulted in repayment and

therefore, demand notice under Section 13(2) of the SARFAESI

Act on 24.02.2020. Ultimately, notice under Section 13(4) of

the SARFAESI Act was issued on 12.01.2021, which was published

in local daily. Now the overdue amount is about Rs.3,48,060/-

(Rupees three lakhs forty eight thousand and sixty only) and

closure amount is more than Rs.13.21 lakhs. The petitioner is

seeking instalments for regularisation of loan, as now possession

notice has been issued.

3. Learned Standing counsel for the respondents submits

that petitioner must deposit atleast an amount of Rs.50,000/-

(Rupees fifty thousand only) prior to 31.03.2021 and balance

amount can be paid in six instalments. Learned counsel for the

petitioner is seeking ten instalments.

4. In this view of the matter, as the respondents are willing

to grant instalments to the petitioner, the writ petition is disposed

of with the following directions:-

The petitioner is directed to pay an amount of Rs.50,000/-

(Rupees fifty thousand only) on or before 31.03.2021 for

discharging the liability towards the overdue amount. The

petitioner should pay the balance overdue amount in ten equated

successive monthly instalments commencing from 26.04.2021.

In addition, the petitioner should also pay the 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              A TRUE COPY OF THE POSSESSION NOTICE DATED
                        12.01.2021 WITH TRANSLATION.

EXHIBIT P2              A TRUE COPY OF THE REPRESENTATION DATED
                        12.02.2021 SENT BY THE PETITIONER.