Ushakumari vs Manager
2021 Latest Caselaw 10716 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.8344 OF 2021(P)


PETITIONER:

               USHAKUMARI
               AGED 50 YEARS
               W/O SASIDHARAN PILLAI,VEMBANATTUKIZAHAKETHIL,
               ALAPPUZHA,MENAMPALLY,PATHIYOOR.P.O,ALAPPUZHA,
               PIN-690508.

               BY ADVS.
               SRI.V.G.ARUN (K/795/2004)
               SMT.V.JAYARAGI
               SRI.R.HARIKRISHNAN (KAMBISSERIL)
               SRI.NEERAJ NARAYAN

RESPONDENTS:

      1        MANAGER, UNION BANK OF INDIA
               ALAKAPURI COMPLEX,MITCHEL JUNCTION,
               MAVELIKKARA,ALAPPUZHA,KERALA,PIN-690101.

      2        REGIONAL MANAGER,
               UNION BANK OF INDIA,
               REGIONAL OFFICE,KOLLAM,KERALA,
               PIN-691009.


OTHER PRESENT:

               SRI. A.S.P.KURUP, SC.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.8344/2021                  2


                                JUDGMENT

Dated this the 30th day of March 2021

Heard both sides.

2. The petitioner had availed cash credit facility of

Rs.15 lakhs by mortgaging her property for the purpose of starting

a workshop. The petitioner could not repay the loan. The

respondents are therefore initiated action under the SARFAESI

Act. Notice under Section 13(4) thereof is issued for taking

possession.

3. Learned counsel for the petitioner submits that the

petitioner is ready and willing to repay the entire amount due and

payable to the respondents in instalments.

4. Learned Standing Counsel appearing for respondents

submits that the petitioner should refund the entire amount in

eight intsalments. It is also submitted that the outstanding

amount is about Rs.21.1 lakh.

5. Learned counsel for the petitioner agrees for the same.

Hence this writ petition is disposed of with the following

directions:

The petitioner to pay the entire amount due and payable to

the respondents in eight equated successive monthly instalments

commencing from 05.04.2021. If the petitioner complies with this

direction, then the respondents shall keep coercive action under

the SARFAESI Act initiated against the petitioner in abeyance.

A single default on the part of the petitioner in compliance with

this direction shall entail the respondents to continue with the

coercive action initiated against the petitioner. No further

extension of time shall be granted to the petitioner for compliance

with this direction.

Sd/-

A.M.BADAR

JUDGE

smp

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 THE COPY OF THE NOTICE DATED 20.03.2021 ISSUED BY THE RESPONDENTS TO PETITIONER.

RESPONDENTS' EXHIBITS: NIL.

True copy

P.S to Judge

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