Sheeba vs The Branch Manager
2021 Latest Caselaw 10883 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

   WEDNESDAY, THE 31ST DAY OF MARCH 2021 / 10TH CHAITHRA, 1943

                       WP(C).No.6607 OF 2021(A)


PETITIONER:

               SHEEBA
               AGED 47 YEARS
               W/O.SHAJI, PARAMBAN HOUSE, V.O.THURUTHU,
               METHALA VILLAGE, KODUNGALLUR TALUK, THRISSUR DT.

               BY ADV. SMT.M.R.REENA

RESPONDENTS:

      1        THE BRANCH MANAGER,
               THE KERALA STATE CO-OP BANK, KOTTAPURAM BRANCH,
               THRISSUR DT. - 680 022.

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

               R1-2 BY SRI.P.C.SASIDHARAN, SC.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.6607/2021               2


                             JUDGMENT

Dated this the 31st day of March 2021

Heard both sides.

2. The petitioner had taken a loan of Rs.8 lakhs for a term of

120 months in the year 2017 and she had defaulted in repayment.

This resulted in initiation of action under the SARFAESI Act. The

petitioner now wants to get the loan regularised by instalments.

3. Learned counsel for the petitioner submits that the

petitioner is willing to pay Rs.25,000/- (Rupees twenty five

thousand only) in a week and balance amount in ten equated

monthly instalments.

4. Learned Standing Counsel appearing for respondents,

relying on the statement filed, submits that the recalled amount is

more than Rs.10.84 lakhs and the defaulted amount comes to

about Rs.4,37,697/-. Learned Standing Counsel further submits

that the petitioner can pay an amount of Rs.1.5 lakhs today and

balance amount in six instalments so as to enable the respondents

to keep the action under the SARFAESI Act in abeyance.

Considering the facts and circumstances of the instant case

and as the respondents are willing to regularise the loan, this writ

petition is disposed of with the following directions:

The petitioner to deposit an amount of Rs.50,000/-

(Rupees fifty thousand only) with the respondents within a period

of one week from today for discharge of her liability towards

overdue amount of loan. In addition, the petitioner should pay the

EMIs regularly. The petitioner should also deposit with the

respondents balance of the overdue amount with interest and

incidental charges in ten equated successive monthly instalments

commencing from 26.04.2021. If the petitioner complies with

these directions, 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 these directions 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 these directions.

Sd/-

A.M.BADAR

JUDGE

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APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE POSSESSION NOTICE DATED 02/02/2021 WITH TRANSLATION.

EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 02/03/2021 SENT BY THE PETITIONER.

RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

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