Kerala High Court
Manakkil Michael vs Axis Bank on 20 May, 2021
W.P(c).No.11331/2021-N 1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE SMT. JUSTICE P.V.ASHA
THURSDAY, THE 20TH DAY OF MAY 2021 / 30TH VAISAKHA, 1943
WP(C) NO. 11331 OF 2021
PETITIONER:
MANAKKIL MICHAEL
MANAKIL HOUSE, ENGANDIYOOR P.O, TRISSUR PIN-680 615.
BY ADVS MUMTAZ SHAMSUDDIN (M-424)-17494
RESPONDENT:
AXIS BANK
REP. BY THE AUTHORISED OFFICER, AXIS BANK LTD, RETAIL ASSETS CENTRE, 5TH
FLOOR, CHICAGO PLAZA, RAJAJI ROAD, ERNAKULAM-682 035.
SRI.SAJU.NA., STANDING COUNSEL
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 20.05.2021, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P(c).No.11331/2021-N 2
P.V.ASHA, J.
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W.P(c) No.11331 of 2021-N
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Dated this the 20th day of May, 2021
JUDGMENT
The petitioner has approached this Court for the second time, as against the
proceedings initiated by the respondent bank under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act (`SARFAESI Act' for short). It is
stated that the petitioner had approached this Court earlier filing W.P(c).No.38129 of 2018
when this Court granted instalment facility to pay the outstanding amount. The petitioner
states that he was not able to make the payment and the respondent had approached the Chief
Judicial Magistrate, Thrissur, filing M.C.No.20 of 2019 when the proceedings are afoot for
taking physical possession as seen from Ext.P2.
2. The learned Standing Counsel Sri Saju.N.A submits that despite all these, the
respondent is willing to grant instalment facility to the petitioner provided, the petitioner
makes payment of a sum of Rs.10 lakhs on or before 15.06.2021 and pays the entire balance
amount within a further 5 equal monthly instalments.
3. The above submission of the learned Standing Counsel is recorded. In case the
petitioner makes the payment as aforesaid, the proceedings initiated under the SARFAESI
Act shall be kept in abeyance in the meanwhile. In case the petitioner makes default in
making payment of any of the instalments, the respondent shall proceed with Ext.P2 order of
the Chief Judicial Magistrate, Thrissur.
The Writ Petition is disposed of accordingly.
Sd/-
P.V.ASHA, JUDGE
rtr/
APPENDIX
PETITIONER'S EXHIBITS
EXT.P1: TRUE COPY OF POSSESSION NOTICE DATED 07.05.2018 ISSUED BY RESPONDENT TO
THE PETITIONER.
EXT.P2: TRUE COPY OF THE ORDER PASSED BY THE CHIEF JUDICIAL MAGISTRATE COURT
MC 20/2019.
EXT.P3(a): TRUE COPY OF THE RECEIPT OF PAYMENT DATED 30.09.2020.
EXT.P3(b): TRUE COPY OF THE RECEIPT OF PAYMENT DATED 14.12.2020.
EXT.P3(c): TRUE COPY OF THE RECEIPT OF PAYMENT DT.16.12.2020.
EXT.P3(d): TRUE COPY OF THE RECEIPT OF PAYMENT DT.18.12.2020.
EXT.P3(e): TRUE COPY OF THE RECEIPT OF PAYMENT DT.28.12.2020.
EXT.P3(f): TRUE COPY OF THE RECEIPT OF PAYMENT DT.15.01.2021.
EXT.P3(g): TRUE COPY OF THE RECEIPT OF PAYMENT DT.16.02.2021.
EXT.P3(h): TRUE COPY OF THE RECEIPT OF PAYMENT DT.18.02.2021.
EXT.P3(i): TRUE COPY OF THE RECEIPT OF PAYMENT DT.10.03.2021.
EXT.P3(j): TRUE COPY OF THE RECEIPT OF PAYMENT DT.19.04.2021.
EXT.P4: TRUE COPY OF REQUEST LETTER 26.4.2021 SUBMITTED BY THE PETITIONER TO THE
RESPONDENT.
