Bishina vs Authorised Officer
2021 Latest Caselaw 7085 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     MONDAY, THE 01ST DAY OF MARCH 2021 / 10TH PHALGUNA, 1942

                        WP(C).No.4268 OF 2021(G)


PETITIONER/S:

                BISHINA, AGED 35 YEARS
                W/O SHYLEESH, KALLIKKATTU HOUSE, KOTTAPPURAM DESAM,
                KOTTAPPURAM P.O.METHALA VILLAGE,
                KODUNGALLOOR,THRISSUR.

                BY ADV. SRI.M.R.SASITH

RESPONDENT/S:

                AUTHORISED OFFICER
                THE KERALA STATE CO-OPERATIVE BANK LIMITED,
                KOTTAPPURAM BRANCH SANTHOM COMPLEX, KOTTAPPURAM ,
                PIN-680 667




                SRI. P.C.SASIDHARAN - STANDING COUNSEL

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4268 OF 2021                   2



                               JUDGMENT

Dated this the 1st day of March 2021

Heard both sides.

2. Petitioner had taken a house renovation loan of

Rs.25,00,000/- with a repayment schedule of ten years in the

year 2018. However, because of financial constraints, she could

not repay that loan in time and that is how the entire loan has

been recalled and she has been served with notice under Section

13(4) of the Securitisation and Reconstruction of Financial Assets

and Enforcement of Securities Interest Act (hereinafter referred to

as 'the SARFAESI Act). Learned counsel appearing for the

petitioner further submits that the petitioner is willing to repay the

entire overdue amount with interest and other charges and she is

not challenging any action under the SARFAESI Act.

3. Learned Standing Counsel appearing for the respondent

argued that the entire overdue amount of loan is about

Rs.4,63,000/- (Rupees four lakhs and sixty three thousand only)

and the petitioner should repay the same in instalments. But

atleast an amount of Rs.1,00,000/- be paid by the end of this

month.

4. I have considered the submissions so advanced. It is

seen that the respondent is interested in effecting recovery of the

overdue amount. Therefore, the petition can be disposed of with

the following directions:-

The petitioner is directed to repay an amount of

Rs.1,50,000/- (Rupees one lakh and fifty thousand only) by the

end of March, 2021 to the respondent towards discharge of her

liability towards the overdue amount. Further, the petitioner

should also repay the balance overdue amount alongwith interest

and other charges in six equated monthly successive instalments

commencing from 19.04.2021. In addition, the petitioner should

also pay regular instalments. If the petitioner follows these

directions, the respondent shall keep the coercive action under

the SARFAESI Act initiated against the petitioner in abeyance. No

further extension of time for compliance of this direction shall be

granted to the petitioner. In case of a single default, the

respondent is at liberty to continue the action under the SARFAESI

Act initiated against the petitioner.

Sd/-

                                                       A.M.BADAR
ajt                                                     JUDGE





                            APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1              TRUE COPY OF POSSESSION NOTICE ISSUED BY
                        THE RESPONDENT

EXHIBIT P1 (a)          TRUE COPY OF ENGLISH TRANSLATION OF EXHIBIT
                        P1