Rajendra Kumar M vs Authorized Officer, The ...
2022 Latest Caselaw 9761 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
      FRIDAY, THE 26TH DAY OF AUGUST 2022 / 4TH BHADRA, 1944
                        WP(C) NO. 27700 OF 2022
PETITIONER:

          RAJENDRA KUMAR M
          AGED 58 YEARS, S.O V.MADHAVAN PILLA,
          T.C.9.2545, JANVILLA LANE, SASTHAMANGALAM,
          THIRUVANANTHAPURAM, KERALA - 695 010.

          BY ADVS.
                      G.RANJU MOHAN
                      M.SANTHI (K/868/2011)


RESPONDENT:

          AUTHORIZED OFFICER,
          THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD-1959
          VATTIYOORKAVU BRANCH, THIRUVANANTHAPURAM,
          KERALA-695 001.


OTHER PRESENT:

          ADV. NISHA GEORGE (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27700 OF 2022                 2



                          JUDGMENT

The petitioner had earlier approached this Court being

aggrieved by the proceedings initiated against the petitioner

under the provisions of the Securitisation and Reconstruction

of Financial Assets and Enforcement of Security Interest Act

(SARFAESI Act) to recover amounts due under a business

loan availed by the petitioner from the respondent bank. This

Court through Ext.P1 judgment had permitted the petitioner

to settle the liability by paying off the overdue amount in 12

monthly installments. That judgment was in the month of

March 2022. It is submitted that the petitioner paid the

installments as directed in the judgment till the month of

June 2022 and could not pay further installments on account

of severe financial crunch. It is submitted that the petitioner

has now been served with Ext.P5 notice issued by the

Advocate Commissioner appointed by the Chief Judicial

Magistrate Court, Thiruvananthapuram under Section 14 of

the SARFAESI Act for taking physical possession of the

secured asset. It is submitted that the petitioner has filed

Ext.P6 representation before the respondent Bank for

restructuring the loan facility.

2. Having regard to the facts and circumstances of

the case and after hearing the learned counsel appearing for

the respondent Bank, who states that the present overdue

amount is Rs.3,61,429/- (Rupees Three Lakhs Sixty One

Thousand Four Hundred and Twenty Nine Only), this writ

petition will stand disposed of directing the competent

authority of the respondent Bank to consider and pass orders

on Ext.P6 representation for restructuring, within a period

ofS one month from the date of receipt of a certified copy of

this judgment. The taking of physical possession of the

secured asset shall be deferred till orders are passed on

Ext.P6, on condition that the petitioner remits a sum of

Rs.1.25 Lakhs towards the loan liability within a period of two

weeks from today.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ats

APPENDIX OF WP(C) 27700/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE JUDGMENT IN W.P.

(C).NO.7333/2022.

Exhibit P2 TRUE COPY OF THE RECEIPT OF PAYMENT BY THE PETITIONER IN THE MONTH OF MARCH, 2022.

Exhibit P3 TRUE COPY OF THE RECEIPT OF PAYMENT BY THE PETITIONER IN THE MONTH OF APRIL, 2022.

Exhibit P4 TRUE COPY OF THE RECEIPT OF PAYMENT BY THE PETITIONER IN THE MONTH OF MAY, 2022.

Exhibit P5 TRUE COPY OF THE ADVOCATE COMMISSIONER NOTICE DATED 10-08-2022.

Exhibit P6 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT BANK DATED 22-08-2022.