Sajeebhai vs The Branch Manager
2021 Latest Caselaw 10797 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.6256 OF 2021(F)


PETITIONER:

               SAJEEBHAI
               AGED 62 YEARS
               W/O.SAJEEVASUNDAR, RESIDING AT HEMANTHAM, MYNADU
               P.O., KOLLAM.

               BY ADVS.
               SRI.S.SREEKUMAR (KOLLAM)
               SHRI.K.VIJAYAN

RESPONDENTS:

      1        THE BRANCH MANAGER
               THE KERALA STATE CO-OPERATIVE BANK, KOLLAM, (THE
               KOLLAM DISTRICT CO-OPERATIVE BANK, KOLLAM),
               KILIKOLLOOR BRANCH, KOLLAM-691 004.

      2        THE AUTHORIZED OFFICER/SENIOR MANAGER,
               THE KERALA STATE CO-OPERATIVE BANK, KOLLAM, (THE
               KOLLAM DISTRICT CO-OPERATIVE BANK, KOLLAM), MAIN
               BRANCH, CHINNAKADA, KOLLAM-691 001.


OTHER PRESENT:

               SC-SRI. P.C.SASIDHARAN

     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.6256 OF 2021(F)

                                    2

                              JUDGMENT

Dated this the 30th day of March 2021

Heard both sides.

2. The petitioner had availed housing loan of Rs. 25 lakhs in

the year 2017 for a term of ten years. The petitioner defaulted in

payment of instalments. It is declared as non-performing asset.

Accordingly to the proceedings under the SARFAESI Act are initiated.

The petitioner submits that he wants to clear the entire overdue

amount in 15 instalments for regularizing the loan. The learned

counsel for the respondent submits that the overdue amount is more

than Rs.10,84,204/- and recalled amount is more than Rs.32.27 lakhs.

Howver, if the petitioner pays an amount of Rs.25,000 by 31.03.2021

and remits the overdue amount with interest and charges in nine

equal monthly instalments, then the respondents shall keep pending

action under the SARFAESI in abeyance.

3. I have considered the submissions so advanced. In view of

the fact that the respondents are willing to grant facility of instalments

to the petitioner, the petition is disposed of with the following

direction.

The petitioner to pay an amount of Rs.25,000/- by 31.03.2021

and she should pay balance overdue amount with interest and other WP(C).No.6256 OF 2021(F)

charges in twelve equated successive monthly instalments

commencing from 19.04.2021. In addition, the petitioner should also

pay EMIs regularly. If the petitioner complies with these directions,

then respondents should 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/-

Nsd //TRUE COPY// A.M.BADAR PA TO JUDGE JUDGE WP(C).No.6256 OF 2021(F)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 THE TRUE COPY OF THE DISCHARGE SUMMARY OF THE PETITIONER'S HUSBAND MR.SAJEEVASUNDAR.

EXHIBIT P2 THE TRUE COPY OF THE NOTICE DATED 22.01.2021 ISSUED BY THE 2ND RESPONDENT.

EXHIBIT P3 A TRUE COPY OF THE REPRESENTATION DATED 01.03.2021 SUBMITTED BY THE PETITIONER BEFORE THE FIRST RESPONDENT.