Thomaskutty Emmanuel vs The Authorised Officer
2022 Latest Caselaw 4981 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
               THE HONOURABLE MR. JUSTICE GOPINATH P.
 WEDNESDAY, THE 4TH DAY OF MAY 2022 / 14TH VAISAKHA, 1944
                        WP(C) NO. 14864 OF 2022
PETITIONER       :

               THOMASKUTTY EMMANUEL,
               AGED 24 YEARS,
               S/O.EMMANUEL,
               CHITTAKATTU HOUSE, KURICHITHANAM P.O,
               KOTTAYAM DISTRICT- 686634
               REPRESENTED BY HIS POWER OF ATTORNEY
               HOLDER/FATHER MR. EMMANUEL,
               S/O.THOMAS, AGED 63,
               CHITTAKATTU HOUSE, KURICHITHANAM P.O,
               KOTTAYAM DISTRICT- 686634.

               BY ADV V.PHILIP MATHEWS



RESPONDENTS       :

    1          THE AUTHORISED OFFICER,
               CENTRAL BANK OF INDIA, 1ST FLOOR,
               METRO PALACE, REGIONAL OFFICE,
               ERNAKULAM NORTH, KOCHI-682018.

    2          CENTRAL BANK OF INDIA,
               REPRESENTED BY ITS CHIEF MANAGER,
               PALA BRANCH, PALA P.O,
               KOTTAYAM DISTRICT-686 575.




               SRI. K.M. ANEESH (SC)




        THIS    WRIT    PETITION     (CIVIL)    HAVING    COME    UP    FOR
ADMISSION       ON    04.05.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) No.14864 of 2022                     -2-



                               GOPINATH.P, J
                   ----------------------------------------------
                         WP(C) No.14864 of 2022
                    ----------------------------------------------
                  Dated this the 4th day of May, 2022

                                  JUDGMENT

The petitioner availed of two loans from the respondent Bank.

One loan is stated to be an agricultural loan (crop loan) and the other is

stated to be a gold loan.

2. The petitioner has approached this Court seeking a period of five

months to clear the liability in respect of both the loans.

3. Sri.Shashank Devan, who appears for the respondents on

instructions submitted that insofar as the gold loan is concerned,

the amount outstanding as on date is Rs.19,66,448/- and in respect

of the crop loan (the term of which is not yet over) the overdue

amount is Rs.3,59,637/-.

4. It is very fairly submitted by the learned counsel for the

respondent that a period of five months can be granted to the

petitioner to repay the entire amount outstanding on the gold

loan, the tenure of which is expired and that the same period can

be given to the petitioner to pay off the overdue amount in

respect of the crop loan.

5. Having regard to the submissions made by the learned counsel for

the petitioner and the learned counsel for the respondent Bank, I

am of the opinion that this writ petition can be disposed of

directing as follows :

(i). The petitioner shall pay off the outstanding amount in

respect of the gold loan availed in '5' equal monthly

installments commencing from 01-06-2022 together with any

accrued interest. The subsequent installments shall be paid on

or before the 1st day of the succeeding month.

(ii). The petitioner shall clear the overdue amount in respect

of the crop loan in '5' equal monthly installments

commencing from 01-06-2022 together with any accrued

interest. The subsequent installments shall be paid on or

before the 1st day of the succeeding month.

(iii). The petitioner shall also service the crop loan by paying

the regular installments due, during its tenure.

The writ petition will stand disposed of as above.

Sd/-

GOPINATH P.

JUDGE amk

APPENDIX OF WP(C) 14864/2022

PETITIONER'S EXHIBITS :

Exhibit P1 COPY OF DEMAND NOTICE DATED 06-01-2022 ISSUED BY THE FIRST RESPONDENT TO THE PETITIONER UNDER SECTION 13(2) OF THE SARFEASI ACT

Exhibit P2 COPY OF POSSESSION NOTICE DATED 26-04-2022 ISSUED BY THE FIRST RESPONDENT TO THE PETITIONER

RESPONDENTS' EXHIBITS : NIL.