Seethumol T.R vs Kerala Bank Ltd
2021 Latest Caselaw 8315 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 12TH DAY OF MARCH 2021 / 21ST PHALGUNA, 1942

                       WP(C).No.6353 OF 2021(T)


PETITIONER:

               SEETHUMOL T.R.
               AGED 38 YEARS
               W/O.SANAL K.R., THOTTIYIL HOUSE, PAZHAYARIKANDAM
               P.O., KANJIKKUZHI, IDUKKI DISTRICT.

               BY ADV. SRI.LATHEESH SEBASTIAN

RESPONDENTS:

      1        KERALA BANK LTD.
               IDUKKI COLONY P.O., IDUKKI DISTRICT - 685 602
               REPRESENTED BY ITS DEPUTY GENERAL MANAGER (RECOVERY).

      2        AUTHORIZED OFFICER
               UNDER THE SARFAESI ACT, KERALA BANK LTD., IDUKKI
               COLONY P.O., IDUKKI DISTRICT - 685 602 REPRESENTED BY
               ITS DEPUTY GENERAL MANAGER (RECOVERY).

      3        THE BRANCH MANAGER
               KANJIKKUZHI BRANCH, KERALA BANK LTD., KANJIKUZHI,
               IDUKKI DISTRICT - 685 606.




               SC-SRI. GILBERT GEORGE CORREYA

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.6353 OF 2021(T)

                                   2

                             JUDGMENT

Dated this the 12th day of March 2021

Heard both sides.

2. The petitioner has availed 3 loans viz, Housing loan,

ordinary loan and Vanitha easy loan from the 3 rd respondent. However

because of consecutive floods and Covid-19 pandemic, the business of

the petitioner had suffered a loss and therefore, repayment of loan

could not be made in due time. The petitioner is therefore, seeking

direction to the respondents to accept the overdue amount in

instalments.

3. The learned counsel appearing for respondents submits that

overdue amount of all three loans as on 10.03.2021 is about

Rs.6,60,541/- and the respondents are willing to accept the said

amount in instalments.

4. In this view of the matter, the petition is disposed of with

the following direction.

The petitioner to repay the entire overdue amount along with

interest and other charges in ten equated successive monthly

instalments commencing from 29.03.2021. In addition, the petitioner

should also regularly pay EMIs of the loan. If the petitioner fulfills

these conditions, then the respondents shall keep the action under the WP(C).No.6353 OF 2021(T)

SARFAESI Act, if any, initiated against the petitioner in abeyance. A

single default by the petitioner shall entail the respondents to continue

with this action under the SARFAESI Act. No further extension of time

shall be granted to the petitioner for compliance with this direction.

Sd/-

A.M.BADAR JUDGE Nsd

//true copy//

PA to Judge WP(C).No.6353 OF 2021(T)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE OF THE 2ND RESPONDENT DATED 07/01/2020 ALONG WITH ENGLISH TRANSLATION.

EXHIBIT P2 TRUE COPY OF THE NOTICE OF THE 2ND RESPONDENT DATED 07/01/2021 ALONG WITH ENGLISH TRANSLATION.

EXHIBIT P3 TRUE COPY OF THE NOTICE OF THE 3RD RESPONDENT DATED 23/02/2021 ALONG WITH ENGLISH TRANSLATION.

EXHIBIT P4 TRUE COPY OF THE REPRESENTATION OF THE PETITIONER SUBMITTED TO THE 3RD RESPONDENT DATED 25/02/2021.