Kerala High Court
Amani Electronics vs The Authorised Officer on 7 July, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 7TH DAY OF JULY 2022 / 16TH ASHADHA, 1944
WP(C) NO. 16852 OF 2022
PETITIONERS:
1 M/S.AMANI ELECTRONICS
MP/VIII/89, MAIN ROAD, MEPPAYUR P. O., KOZHIKODE
DISTRICT, PIN-673 524, REPRESENTED BY ITS MANAGING
PARTNER, (RAJESH P. V., S/O KUNHICHANDU, AGED 50,
PAYATTUVALAPPIL HOUSE, KOYILANDY P. O., KOZHIKODE
DISTRICT, PIN-673 305).
2 RAJESH P. V.,
AGED 50 YEARS
S/O KUNHICHANDU, PAYATTUVALAPPIL HOUSE,
KOYILANDY P. O., KOZHIKODE DISTRICT, PIN-673 305,
MANAGING PARTNER OF M/S AMANI ELECTRONICS.
3 BINDU K. M.,
AGED 46 YEARS, W/O RAJESH P. V., PAYATTUVALAPPIL HOUSE,
KOYILANDY P. O., KOZHIKODE DISTRICT, PIN-673 305,
PARTNER OF M/S AMANI ELECTRONICS.
BY ADVS.
V.N.SANKARJEE
SAKIR.K.H.
V.N.MADHUSUDANAN
R.UDAYA JYOTHI
KEERTHI B. CHANDRAN
VIJAYAN PILLAI P.K.
NITHEESH.M
RESPONDENTS:
1 THE AUTHORISED OFFICER,
STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE-2,
KOZHIKODE, STATE BANK BHAVAN, BANK ROAD, MANANCHIRA,
KOZHIKODE DISTRICT, PIN-673 001.
2 THE MANAGER,
STATE BANK OF INDIA, MEPPAYUR BRANCH, MEPPAYUR P. O.,
KOZHIKODE DISTRICT, PIN-673 524.
SRI.G.G.MANOJ, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 16852 OF 2022
2
JUDGMENT
Petitioners have approached this Court challenging
proceedings under the SARFAESI Act which have been
initiated by the bank for recovery of the amounts due from
the petitioners.
2. It was submitted on behalf of the respondent bank
that the petitioners committed default in repayment and the
outstanding amount is Rs.19,93,644/-(Rupees nineteen lakhs
ninety three thousand six hundred and forty four only). It was
further submitted that though proceedings for recovery have
been initiated, as a matter of indulgence, the respondent
bank is willing to accept repayment of the outstanding
amount in limited instalments.
3. I have heard the learned counsel for the petitioners
as well as the learned Standing Counsel for the respondents.
4. Having regard to the circumstances of the case and
the situation now prevailing, apart from the submissions
made as recorded above, I am of the view that the petitioners
can be granted an opportunity to repay the outstanding
amount in 12 instalments.
5. Accordingly, there will be a direction to the
respondent bank to accept repayment of the entire
WP(C) NO. 16852 OF 2022
outstanding amount of Rs.19,93,644/-(Rupees nineteen lakhs
ninety three thousand six hundred and forty four only) along
with bank charges from the petitioners on the following
conditions:
(i)The outstanding amount of Rs.19,93,644/-(Rupees
nineteen lakhs ninety three thousand six hundred
and forty four only) along with any accrued
interest and charges shall be repaid in 12
equated monthly instalments.
(ii)The first instalment shall be paid on or before
30.07.2022 and the subsequent instalments shall
be paid on the last working day of every succeeding
month.
(iii) In the event of default of any one instalment,
the respondent bank shall be entitled to proceed
in accordance with law.
(iv) In order to enable the petitioners to repay the
entire amounts, all coercive proceedings shall
be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 16852 OF 2022
APPENDIX OF WP(C) 16852/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED
5.5.2021 UNDER SECTION 13(2) OF THE
SARFAESI ACT ISSUED TO THE
PETITIONERS BY THE 1ST RESPONDENT.
Exhibit P2 TRUE COPY OF THE NOTICE DATED
28.4.2022 UNDER SECTION 13(4) OF THE
SARFAESI ACT ISSUED TO THE
PETITIONERS BY THE 1ST RESPONDENT.
