Saji A K vs The Authorised Officer
2021 Latest Caselaw 8080 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

    TUESDAY, THE 09TH DAY OF MARCH 2021 / 18TH PHALGUNA, 1942

                       WP(C).No.6082 OF 2021(I)


PETITIONER:

              SAJI A K
              AGED 47 YEARS
              S/O.KRISHNANKUTTY, ANJAPRA HOUSE, PRAKASH P.O.,
              IDUKKI DISTRICT - 685 609

              BY ADVS.
              SRI.P.P.BIJU
              SRI.M.S.DILEEP

RESPONDENT:

              THE AUTHORISED OFFICER
              KERALA STATE CO-OPERATIVE BANK, IDUKKI COLONY P.O.,
              IDUKKI DISTRICT - 685 602.


OTHER PRESENT:

              SRI.GILBERT GEORGE CORREYA, SC.

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.6082/2021               2


                             JUDGMENT

Dated this the 9th day of March 2021

Heard both sides.

2. It is the case of the petitioner that he had availed a loan of

Rs.13 lakhs from the respondent for constructing a building.

However, he could not repay the loan by making payment of

instalments regularly as he was admitted to the Medical College

Hospital, Kottayam due to cerebrovascular stroke. Learned counsel

for the petitioner submits that the petitioner is willing to repay the

entire overdue amount in ten instalments as the term of the loan is

upto the year 2038.

3. Learned Standing Counsel, after taking notice for the

respondent, opposed the writ petition and contended that the

respondent has already declared the loan as non performing asset

and has taken recourse to the provisions of the SARFAESI Act for

effecting recovery. It is also submitted that as on 08.03.2021, the

outstanding amount of loan is about Rs.4,68,466/-. It is further

submitted that the petitioner may be directed to clear the overdue

amount in six equated monthly instalments.

4. I have considered the submissions so advanced and

perused the materials placed before me. The respondent-Bank

seems to be interested in effecting recovery and therefore, this writ

petition is disposed of with the following directions:

The petitioner to clear the entire overdue amount in eight

equated monthly instalments commencing from 29.03.2021. In

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

petitioner fulfills these conditions, then the respondent shall keep

the coercive action initiated under the SARFAESI Act against the

petitioner in abeyance. A single default in compliance with these

directions shall entail the respondent-Bank to continue with the

action under the SARFAESI Act. No further extension of time shall

be granted to the petitioner for compliance of this judgment.

Sd/-

A.M.BADAR

JUDGE

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APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF C T SCAN REPORT DATED 10/12/2018 ISSUED BY THE MEDICAL COLLEGE HOSPITAL, KOTTAYAM.

EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 16/2/2021 ISSUED BY THE RESPONDENT.

EXHIBIT P2 (a) TRUE ENGLISH TRANSLATION OF EXHIBIT P2(a) RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

smp