Sajitha C.A vs The Kerala State Co-Operative ...
2021 Latest Caselaw 9891 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.4877 OF 2021(H)


PETITIONER:

              SAJITHA C.A.
              AGED 41 YEARS
              W/O. THANKAPPAN, CHATHANATTU, PADAMUGAL,
              KAKKANAD P.O, ERNAKULAM - 682030.

              BY ADV. SMT.MARGARET K. JAMES

RESPONDENT:

              THE KERALA STATE CO-OPERATIVE BANK LTD.
              PALARIVATTOM BRANCH, KOCHANETH BUILDING,
              PALARIVATTOM, ERNAKULAM, REPRESENTED BY TIS
              AUTHORISED OFFICER, 682025.

              BY SRI.N.RAGHURAJ, 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.4877/2021                2


                              JUDGMENT

Dated this the 24th day of March 2021

Heard both sides.

2. The petitioner had availed financial assistance of

Rs.7 lakhs from the respondent-Bank for construction of house. It

is the case of the petitioner that because of financial stringency,

she could not repay the loan and now she wants to clear the

overdue amount in instalments.

3. Learned Standing Counsel appearing for the respondent-

Bank submits the term of the loan is upto the year 2028 and it

was declared as non performing asset on 20.12.2018. It is also

submitted that the overdue amount is about Rs.2,78,459/- and

the Bank is willing to grant instalments provided the petitioner

clears 1/3rd of the overdue amount by the end of March 2021.

4. Learned counsel for the petitioner submits that the

petitioner be granted ten instalments to clear the overdue amount

looking to the fact she is working as coolie for earning her

livelihood.

I have considered the submissions so advanced. As the

respondent is willing to grant the facility of instalments to the

petitioner, this writ petition is disposed of with the following

directions:

The petitioner to clear the entire overdue amount along with

interest and incidental charges in ten equated successive monthly

instalments commencing from 31.03.2021. In addition, the

petitioner should also pay the EMIs regularly. If the petitioner

complies with these directions, then the respondent 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

respondent 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

smp

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE PHOTOSTAT COPY OF THE TAX RECEIPT IN THE NAME OF THE PETITIONER DATED 03.10.2019 ALONG WITH TRANSLATION.

EXHIBIT P2 TRUE PHOTOSTAT COPY OF THE NOTICE ISSUED BY THE ITS AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD, PALARIVATTAM BRANCH DATED 22.12.2020.

EXHIBIT P3 CERTIFICATE ISSUED BY THE VILLAGE OFFICER, VAZHAKKALA DATED 14.01.2021 REGARDING PAYMENT OF TAX ALONG WITH TRANSLATION. RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

smp