Luna S.K vs Authorised Officer
2023 Latest Caselaw 4845 Ker

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                   THE HONOURABLE MR. JUSTICE T.R.RAVI
     THURSDAY, THE 13TH DAY OF APRIL 2023 / 23RD CHAITHRA, 1945
                         WP(C) NO. 13365 OF 2023
PETITIONER:

              LUNA S.K.
              AGED 22 YEARS
              S/O. SREEKANDAN NAIR N., S.K. VILAS,
              CHOOTTAYIL, KAYATTUKONAKAM, KILIMANOOR P.O.,
              THIRUVANANTHAPURAM - 695601.

              BY ADVS.
              SANJAY THAMPI
              P.RAVEENDRAN PILLAI


RESPONDENTS:

     1        AUTHORISED OFFICER
              SOUTH INDIAN BANK, REGIONAL OFFICE, TC 31/151,
              YWCA BUILDING, 3RD FLOOR, M.G. ROAD, SPENCER JUNCTION,
              STATUTE THIRUVANANTHAPURAM - 695001.
     2        SOUTH INDIAN BANK
              KILIMANOOR BRANCH, PAPPALA, KILIMANOOR P.O.,
              THIRUVANANTHAPURAM - 695601
              REPRESENTED BY ITS BRANCH MANAGER.
     3        THE BRANCH MANAGER
              SOUTH INDIAN BANK, KILIMANOOR BRANCH, PAPPALA,
              KILIMANOOR P.O., THIRUVANANTHAPURAM - 695601.


              SRI. SUNIL SHANKAR, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 13365 OF 2023

                                       2

                                T.R. RAVI, J.
                --------------------------------------------
                      W.P.(C) No.13365 of 2023
                    --------------------------------------------
                Dated this the 13th day of April, 2023

                               JUDGMENT

The prayer in the writ petition is to permit the petitioner to

pay off the amounts outstanding in the loan account availed from

the respondents in easy instalments. The Standing Counsel on

instructions submits that the amount outstanding is

Rs.94,34,603/-.

In the above circumstances, the writ petition is disposed of

directing the petitioner to pay off the amount of Rs.94,34,603/-

along with accrued interest in 15 equal monthly instalments, the

first instalment falling due on or before 13.05.2023 and the

subsequent instalments falling due on or before the 13th of the

succeeding months. If the petitioner makes a single default in

the payment of instalments, the respondents will be at liberty to

continue with coercive steps for recovery. The coercive steps WP(C) NO. 13365 OF 2023

initiated shall be kept in abeyance to facilitate the payment of

instalments as directed above.

Sd/-

T.R.RAVI JUDGE mpm WP(C) NO. 13365 OF 2023

APPENDIX OF WP(C) 13365/2023

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE DATED 19/12/2022 ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT.

Exhibit P2 TRUE COPY OF THE NOTICE DATED 18/03/2023 ISSUED UNDER SECTION 13(4) OF THE SARFAESI ACT BY THE 1ST RESPONDENT.