Binu Devassy vs Kerala State Co-Operative Bank
2021 Latest Caselaw 19242 Ker

WP(C) NO. 10543 OF 2021

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             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
       THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
TUESDAY, THE 14TH DAY OF SEPTEMBER 2021 / 23RD BHADRA, 1943
                      WP(C) NO. 10543 OF 2021
PETITIONER:

             BINU DEVASSY
             AGED 38 YEARS
             S/O.DEVASSY, KURISINGAL HOUSE, MAMBRA P.O., WEST
             KORATTY, THRISSUR DISTRICT.
             BY ADV S.MUMTAZ


RESPONDENT:

             KERALA STATE CO-OPERATIVE BANK
             REP BY THE AUTHORIZED OFFICER, SAHAKARANA
             SATHABDHI MANDIRAM, KOVILAKATHUMPADOM, TRISSUR -
             680 022.
             BY ADV SRI.P.C.SASIDHARAN, SC, THRISSUR DISTRICT
             CO.OPERATIVE BANK LTD.


      THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   14.09.2021,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) NO. 10543 OF 2021

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                     BECHU KURIAN THOMAS, J
                  ................................................
                      W.P.(C) No.10543 of 2021
                    ...........................................
             Dated this the 14TH day of September, 2021


                                JUDGMENT

Petitioner is a borrower and the loan

has fallen in arrears. Respondent Bank has

initiated proceedings for recovery of the amount

due to it. Petitioner seeks permission for

repayment of the overdue amount in 6 equal

installments.

The learned counsel for the respondent

Adv.Sri.P.C.Sasidharan, upon instructions submit

that, even though there are various demerits in

the case put forth by the respondent, Bank is

willing to accept the repayment of the overdue

amount in limited number of installments. It was

pointed out that the amount of Rs.1,23,660/- is

due from the petitioner as on 5/5/2021 and that WP(C) NO. 10543 OF 2021

Bank is willing to accept repayment of the

overdue amount in 6 equated monthly installments.

Having regard to the limited

jurisdiction, there will be a direction to the

respondent to accept payment of overdue amount of

Rs.1,23,660/-, in 6 equated monthly installments,

The petitioner shall continue to pay regular

installments along with the afore said

installments stipulated in this judgment.

Needless to say, in the event of default

of any installment, respondent shall be entitled

to proceed in accordance with law. All further

proceedings under Section 14 of the SARFAESI Act,

shall be kept in abeyance to enable the petitioner

to act in accordance with this judgment.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 10543 OF 2021

APPENDIX OF WP(C) 10543/2021

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE POSSESSION NOTICE ISSUED UNDER THE SARFAESI ACT DATED 11/01/2021.

EXHIBIT P2 REQUEST LETTER DATED 23/03/2021 GIVEN BY THE PETITIONER TO THE RESPONDENT.

RESPONDENT'S EXHIBITS: NIL


  AJM                     //TRUE COPY//          PA TO JUDGE