Haseena vs The Branch Manger
2021 Latest Caselaw 9522 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     MONDAY, THE 22ND DAY OF MARCH 2021 / 1ST CHAITHRA, 1943

                        WP(C).No.6170 OF 2021(U)


PETITIONER/S:

                HASEENA, AGED 30 YEARS
                W/O.RASHEED, CHALIYATH HOUSE, ERIYAD DESOM,
                ERIYAD VILLAGE, KODUNGALLUR TALUK, THRISSUR DT.

                BY ADVS.
                SMT.M.R.REENA
                SRIP.S.SUJETH

RESPONDENT/S:

      1         THE BRANCH MANGER, THE KERALA STATE CO-OP BANK,
                ERIYAD BRANCH, THRISSUR DT.680022

      2         THE AUTHORIZED OFFICER,
                THE KERALA STATE CO-OP BANK LTD., HEAD OFFICE,
                SAHAKARANA SAPTHADHI MANDIRAM, TUDA ROAD,
                KOVILAKATHUPADAM, THIRUVAMBADY P.O., THRISSUR 680 022



                SRI. P.C.SASIDHARAN, STANDING COUNSEL

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.6170 OF 2021           2



                            JUDGMENT

Dated this the 22nd day of March 2021

Heard both sides.

2. The petitioner had taken a loan for Rs.3,00,000/-

(Rupees three lakhs only) in the year 2017 and defaulted in

repayment. This resulted in issuance of notice under Section 13(2)

of the Securitisation and Reconstruction of Financial Assets and

Enforcement of Securities Interest Act ('the SARFAESI Act' for

brevity) on 26.02.2020. Notice under Section 13(4) of the

SARFAESI Act was issued on 09.02.2021 and it was published in

local daily on 14.02.2021. The outstanding amount is reported to

be about Rs.1,71,245/- whereas the closure amount is about

Rs.4,02,027/-.

3. Learned counsel appearing for the petitioner submitted

that the petitioner is willing to deposit an amount of Rs.20,000/-

(Rupees twenty thousand only) by the end of this month and

balance amount in instalments.

4. Learned Standing Counsel appearing for the

respondents opposed the petition by contending that considering

the fact that the loan was only for Rs.3,00,000/- and recalled

amount is more than Rs.4,00,000/-, the petitioner must deposit

atleast an amount of Rs.75,000/- (Rupees seventy five thousand

only) by the end of this month for availing the facility of

regularisation.

5. Considering the facts and circumstances of the instant

case and the fact that the respondents are willing to grant the

facility of instalments, the writ petition is disposed of with the

following directions:-

The petitioner is directed to pay an amount of Rs.50,000/-

(Rupees fifty thousand only) towards repayment of overdue

amount on or before 31.03.2021 and she should repay the entire

overdue amount with interest and other charges in eight equated

monthly instalments commencing from 19.04.2021. In addition,

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

complies with these directions, respondent shall keep the coercive

action, initiated against the petitioner under the SARFAESI Act, in

abeyance. In case of a single default, the respondents are 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/-

ajt                                           A.M.BADAR, JUDGE





                            APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1              A TRUE COPY OF THE POSSESSION NOTICE DATED
                        9.2.2021 WITH TRANSLATION.

EXHIBIT P2              A TRUE COPY OF THE REPRESENTATION DATED
                        5.3.2021 SENT BY THE PETITIONER.