Suhail T. vs The State Of Kerala
2021 Latest Caselaw 7957 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     MONDAY, THE 08TH DAY OF MARCH 2021 / 17TH PHALGUNA, 1942

                        WP(C).No.2389 OF 2021(W)


PETITIONER/S:

                SUHAIL T.,AGED 50 YEARS
                THADATHIL HOUSE, MARUTHINCHIRA, MARAKKARA P O,
                MALAPPURAM,
                 REPRESENTED BY POWER OF ATTORNEY HOLDER,
                 ASHARAF, S/O AVARAN, CHATHANATHIL HOUSE,
                CHIRAKKAL, KURUMBATHUR, PUNNATHALA P O,
                 TIRUR, MALAPPURAM-676302.

                BY ADV. SRI.I.DINESH MENON

RESPONDENT/S:

      1         THE STATE OF KERALA
                REPRESENTED BY ITS CHIEF SECRETARY,
                GOVERNMENT SECRETARIAT,
                P O THIRUVANANTHAPURAM-695001.

      2         THE RESERVE BANK OF INDIA, 6 SANSAD MARG,
                SANSAD MARG AREA, NEW DELHI, DELHI-110001
                REPRESENTED BY GOVERNOR

      3         THE BRANCH MANAGER
                CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED,
                TANUR P O, TANUR-676302.

                R3 BY ADV. SRI.BINOY VASUDEVAN



                SMT. JASMINE M.M., GOVERNMENT PLEADER

     THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD          ON
08.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.2389 OF 2021           2



                             JUDGMENT

Dated this the 8th day of March 2021

Heard both sides.

2. Learned counsel appearing for the petitioner submits

that the petitioner be granted instalments for paying the overdue

amount of financial assistance availed by him from the 3 rd

respondent.

3. Learned counsel appearing for the 3rd respondent, on

instructions, submits that the overdue amount comes to

Rs.19,159/- (Rupees Nineteen thousand one hundred and fifty nine

only) and the term of the loan is up to to 2025.

4. After hearing both sides, it is seen that the respondents

are interested in recovery of the amount of financial assistance

availed by the petitioner and the petitioner be given instalments for

repayment of the loan amount. Hence the writ petition is disposed

of with the following directions:-

The petitioner is directed to repay the entire overdue amount

alongwith interest and other charges, if any, in three equated

successive monthly instalments commencing from 22.03.2021 . In

addition, the petitioner should also pay EMIs regularly. If the

petitioner complies with this direction, respondents shall keep the

coercive action, if any, initiated against the petitioner under the

SARFAESI Act, in abeyance. In case of a single default, the

respondent is at liberty to continue the action under the SARFAESI

Act initiated against the petitioner. No further extension of time for

compliance of this direction shall be granted to the petitioner.

Sd/-

                                                  A.M.BADAR

ajt                                                 JUDGE





                            APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1              TRUE COPY OF THE PERMIT OF SC KL-55 Z 6104.

EXHIBIT P2              TRUE COPY OF THE JUDGMENT IN WPC NO.
                        825/2020 DATED 27/11/2020.

EXHIBIT P3              TRUE EXTRACT OF THE INTERIM ORDER IN WPC
                        NO. 9400/2020 DATED 3/8/2020.

EXHIBIT P4              TRUE COPY OF THE REQUEST TO RBI DATED
                        8/1/2021.

EXHIBIT P5              TRUE COPY OF THE REQUEST TO CHOLAMANDALAM

INVESTMENT AND FINANCE LIMITED DATED 8/1/2021.

EXHIBIT P6 TRUE COPY OF THE INTERIM ORDER IN WPC NO.

26166/2020 DATED 29/12/2020.