Saidalavi vs State Of Kerala
2021 Latest Caselaw 7295 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

    TUESDAY, THE 02ND DAY OF MARCH 2021 / 11TH PHALGUNA, 1942

                       WP(C).No.4619 OF 2021(B)


PETITIONERS:

      1        SAIDALAVI,
               AGED 47 YEARS,
               S/O MUHAMMED,
               POOVARATHODIYIL HOUSE,
               DESAMANGALAM P.O, THRISSUR - 679 123.

      2        ASMABY,
               AGED 43 YEARS,
               W/O SAIDALAVI,
               POOVARATHODIYIL HOUSE,
               DESAMANGALAM P.O, THRISSUR - 679 123.

               BY ADV. SRI.K.R.ARUN KRISHNAN

RESPONDENTS:

      1        STATE OF KERALA,
               REPRESENTED BY ITS SECRETARY TO GOVERNMENT,
               MINISTRY OF CO-OPERATION,
               GOVERNMENT SECRETARIAT,
               THIRUVANANTHAPURAM - 695 001.

      2        THE AUTHORIZED OFFICER,
               KERALA STATE CO-OPERATIVE BANK LIMITED,
               KOVILAKATHUMPADAM, THIRUVAMBADI P.O,
               THRISSUR - 680 022.

      3        THE BRANCH MANAGER,
               KERALA STATE CO-OPERATIVE BANK LIMITED,
               KOVILAKATHUMPADAM, THIRUVAMBADI P.O,
               THRISSUR - 680 022.

               R1 BY SMT. POOJA SURENDRAN, GOVERNMENT PLEADER

               R2-3 BY SRI. P.C.SASIDHARAN, SC.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4619 OF 2021

                                         2




                               JUDGMENT

Dated this the 2nd day of March 2021

Heard both sides.

2. The petitioners have availed a loan of

Rs.16,75,000/- (Rupees Sixteen Lakhs Seventy Five

Thousand Only) as per say of the respondents, on

18-05-2019.

3. The learned Standing Counsel for the

respondents submit that the overdue amount as of now

is about Rs.4,43,702/- (Rupees Four Lakhs Forty

Three Thousand Seven Hundred and Two Only) and on

28-02-2020, Demand Notice under Section 13(2) of the

SARFAESI Act was issued. According to the learned

Standing Counsel for the respondents, the

respondents are willing to regularize the loan, if

the petitioners pay an amount of Rs.2,00,000/-

(Rupees Two Lakhs Only) by the end of March 2021 and

balance amount in instalments.

4. The learned counsel for the petitioners have WP(C).No.4619 OF 2021

no objection for this course of action suggested by

the learned counsel for the secured creditor.

5. In this view of the matter, the petition is

disposed of with the following directions:

i) The petitioners are directed to pay an amount

of Rs.2,00,000/- (Rupees Two Lakhs Only) by the

end of March 2021 in discharge of their

liability towards the overdue amount.

ii) The petitioners to pay the balance overdue

amount of the loan with interest and charges in

six equated successive monthly instalments

commencing from 19-04-2021.

iii) In addition, the petitioners should also

pay the E.M.Is regularly.

If these directions are complied with, the

respondents shall keep coercive action under the

SARFAESI Act initiated against the petitioners in

abeyance. A single default in complying these

directions shall entail the respondents to continue WP(C).No.4619 OF 2021

with the action under the SARFAESI Act. No further

extension of time for compliance of these directions

shall be granted to the petitioners.

The petition, is disposed of as above.

Sd/-

A.M.BADAR JUDGE

SSK/02/03 //TRUE COPY// PA TO JUDGE WP(C).No.4619 OF 2021

APPENDIX PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 05.1.2021 TO THE 1ST PETITIONER ALONG WITH ITS TRANSLATION.

RESPONDENT'S EXHIBITS:NIL


SSK                     //TRUE COPY//         PA TO JUDGE