K.S.Suresh Pai vs Authorised Officer
2021 Latest Caselaw 10693 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                 PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     TUESDAY, THE 30TH DAY OF MARCH 2021 / 9TH CHAITHRA, 1943

                        WP(C).No.6847 OF 2021(E)


PETITIONER/S:

                K.S.SURESH PAI, AGED 55 YEARS
                S/O SIVANANDA PAI,
                RESIDING AT KALAPPURAMBATH HOUSE,
                NEAR ANGADIKADAVU, ALANGAD P.O,
                ERNAKULAM DISTRICT-683511.

                BY ADVS.
                SRI.C.SIVADAS
                SRI.G.PADMARAJ

RESPONDENT/S:

      1         AUTHORISED OFFICER, KERALA GRAMIN BANK,
                REGIONAL OFFICE, ERNAKULAM,
                COASTAL TOWERS, NEAR SAMSKARA JUNCTION,
                PIPELINE ROAD, PALARIVATTOM, KOCHI-682025.

      2         KERALA GRAMIN BANK, MULAMTHURUTHY BRANCH,
                PALAI BUILDINGS, MULAMTHURUTHY- 682314,
                ERNAKULAM DISTRICT.
                REPRESENTED BY ITS BRANCH MANAGER,




                SRI.SANTHOSH KUMAR, STANDING COUNSEL

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.6847 OF 2021                 2




                             JUDGMENT

Dated this the 30th day of March 2021

Heard both sides.

2. The petitioner had availed financial assistance in the

form of Overdraft facility from the respondents. But it is alleged

that the business of the petitioner suffered a set back because of

demonetization, issues of GST, pandemic Covid-19, so also

because of health problems suffered by the petitioner, his hotel

was closed. With this, learned counsel appearing for the petitioner

submits that petitioner is willing to clear the entire dues payable to

the respondents in ten instalments.

3. Learned Standing Counsel appearing for the respondent

submits that the petitioner is liable to pay an amount of about

Rs.11,13,630/- to the respondents towards financial assistance

availed by him. It is further argued that the respondents have

already initiated action under the SARFAESI Act and possession

notice at Ext.P3 is also issued.

4. Considering the facts and circumstances of the instant

petition and also as the petitioner is ready and willing to repay the

entire amount due and payable to the respondents, the writ

petition is disposed of with the following directions:-

The petitioner is directed to repay the entire outstanding

amount due and payable to the respondents in ten equated

successive monthly instalments commencing from 05.04.2021. 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 DISCHARGE SUMMARY OF THE
                        PETITIONER DATED 12.11.2020

EXHIBIT P2              TRUE COPY OF THE DEMAND NOTICE DATED

04.02.2019 ISSUED BY THE 1ST RESPONDENT.

EXHIBIT P3 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY 1ST RESPONDENT DATED 29.12.2020.

EXHIBIT P4 TRUE COPY OF THE REQUEST SUBMITTED BY THE PETITIONER DATED 31.12.2020.

EXHIBIT P5 TRUE COPY OF THE REPLY ISSUED BY THE REGIONAL OFFICE DATED 25.01.2021.