Shibu Das vs Authorized Officer
2022 Latest Caselaw 6115 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
             THE HONOURABLE MR. JUSTICE GOPINATH P.
 WEDNESDAY, THE 1ST DAY OF JUNE 2022 / 11TH JYAISHTA, 1944
                     WP(C) NO. 7679 OF 2022
PETITIONER/S:

            SHIBU DAS
            AGED 42 YEARS
            S/O. MARYDAS, JOY HOUSE, CHOLAYIKONAM,
            MYLOTTUMMOOZHY, KATTAKADA, THIRUVANANTHAPURAM
            KERALA 695 541
            BY ADVS.
            G.RANJU MOHAN
            M.SANTHI (K/868/2011)


RESPONDENT/S:

            AUTHORIZED OFFICER
            UNION BANK OF INDIA, NEW JYOTHI TOWER, T.C
            25/1506(1), S.S KOVIL ROAD, THIRUVANANTHAPURAM,
            KERALA 695 001

OTHER PRESENT:

            SRI. A S P KURUP (SC)



     THIS    WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION    ON   01.06.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.7679/2022
                                          -:2:-

                                JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due upon a loan availed by the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

outstanding amount in installments.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

outstanding amount is Rs.13,00,000/-(Rupees Thirteen

Lakhs 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

installments.

4. I have heard Adv.Ranju Mohan, learned counsel for

the petitioner as well as Adv.A.S.P Kurup, the learned

Senior Counsel for the respondent. W.P.(C) No.7679/2022

5. 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

petitioner can be granted an opportunity to repay the

outstanding amount in 15 installments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.13,00,000/-(Rupees Thirteen

Lakhs Only) along with further interest and charges from

the petitioner on the following conditions:

(i) The outstanding amount of Rs.13,00,000/-(Rupees

Thirteen Lakhs Only) together with any accrued

interest/costs shall be repaid in 15 equated monthly

installments.

(ii) The first installment shall be paid on or

before 30-06-2022. The subsequent installments shall be

paid on or before the last working day of the succeeding

months.

W.P.(C) No.7679/2022

(iii) In the event of default of any one installment, the

respondent bank shall be entitled to proceed in accordance

with law.

(iv) In order to enable the petitioner 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

ats W.P.(C) No.7679/2022

APPENDIX OF WP(C) 7679/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ADVOCATE COMMISSIONER NOTICE DATED 08-02-2021.

Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 02-03-2022