Sudheesh vs The Branch Manager
2021 Latest Caselaw 9876 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

    WEDNESDAY, THE 24TH DAY OF MARCH 2021 / 3RD CHAITHRA, 1943

                       WP(C).No.5892 OF 2021(J)


PETITIONER:

               SUDHEESH
               AGED 47 YEARS
               S/O. RAMAN, PALLATH HOUSE, PALLAM DESOM, THOTTIPPAL
               VILLAGE, MUKUNDAPURAM TALUK, THRISSUR DT.

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

RESPONDENTS:

      1        THE BRANCH MANAGER, THE KERALA STATE CO-OP BANK
               PUDUKKAD BRANCH, THRISSUR DIST., PIN - 680301.

      2        THE AUTHORIZED OFFICER
               THE KERALA STATE CO-OP. BANK LTD., HEAD OFFICE,
               SAHAKARANA SAPTHADHI MANDIRAM, TUDA ROAD,
               KOVILAKATHUPADAM, THIRUVAMBADY P. O.,
               THRISSUR - 680022.

               BY SRI.P.C.SASIDHARAN, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.5892/2021                 2


                               JUDGMENT

Dated this the 24th day of March 2021

Heard both sides.

2. The petitioner had availed financial assistance of Rs.18

lakhs from the respondent-Bank but failed to repay the same in

due time. The term of the loan is upto 2028 and the petitioner

seeks regularisation of the loan.

3. Learned Standing Counsel appearing for the respondent-

Bank submits that the overdue amount is Rs.7,26,437/- and the

closure amount is Rs.22,62,924/-. It is also submitted that the

petitioner is a chronic defaulter and demand notice was issued on

11.11.2019. It is further argued that the petitioner must pay

Rs.1.50 lakhs prior to 31.03.2021 in order to claim regularisation.

4. I have considered the submissions so advanced and

perused the materials placed before me. Considering the fact that

the respondents are willing to grant instalments to the petitioner,

this writ petition is disposed of with the following directions:

The petitioner to pay an amount of Rs.1,00,000/-

(Rupees One lakh only) on or before 31.03.2021 for discharge of

his liability towards overdue amount. The petitioner should clear

rest of the overdue amount with interest and other charges in ten

equated successive monthly instalments commencing from

19.04.2021. In addition, the petitioner should also pay the EMIs

regularly. If the petitioner complies with these directions, then the

respondents shall keep coercive action under the SARFAESI Act

initiated against the petitioner in abeyance. A single default on the

part of the petitioner in compliance with these directions shall

entail the respondents to continue with the coercive action initiated

against the petitioner. No further extension of time shall be

granted to the petitioner for compliance with these directions.

Sd/-

A.M.BADAR

JUDGE

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APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE POSSESSION NOTICE DATED 31.01.2020 WITH TRANSLATION.

EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 14.02.2021 SENT BY THE PETITIONER.

RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

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