K.V. Retnakaran vs Uco Bank
2023 Latest Caselaw 8875 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
               THE HONOURABLE MR. JUSTICE GOPINATH P.
      MONDAY, THE 14TH DAY OF AUGUST 2023 / 23RD SRAVANA, 1945
                           RP NO. 511 OF 2023
 AGAINST THE JUDGMENT DATED 11-07-2022 IN WP(C) 22410/2022 OF HIGH
                            COURT OF KERALA
REVIEW PETITIONER/PETITIONER:

           K.V. RETNAKARAN
           AGED 70 YEARS, S/O. VIJAYAN,
           PROPRIETOR K.V.R. AGENCIES, KOYIPPILLY HOUSE,
           PALLIPORT.P.O., MUNAMBAM,
           ERNAKULAM DISTRICT, PIN - 683 515.

           BY ADVS.
                    PADMALAYAN.P.P.
                    INKU RAHMATH L.



RESPONDENTS/RESPONDENTS:

     1     UCO BANK
           MUNAMBAM BRANCH, NEAR MUNAMBAM FERRY, PALLIPORT.P.O.,
           MUNAMBAM, ERNAKULAM DISTRICT, PIN - 683 515.
           REPRESENTED BY ITS BRANCH MANAGER.

     2     THE AUTHORIZED OFFICER
           UCO BANK, MUNAMBAM BRANCH, NEAR MUNAMBAM FERRY,
           PALLIPORT.P.O., MUNAMBAM,
           ERNAKULAM DISTRICT., PIN - 683 515.

           BY ADVS.
                    MANOJ G.G
                    S.SARATH PRASAD(K/000835/2008)
                    G.G.MANOJ(S.C.)




     THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 14.08.2023,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 R.P.No.511 of 2023
     in
W.P(C)No.22410 of 2022             2




                             ORDER

This review petition has been filed essentially seeking an

extension of time to comply with the directions contained in

the judgment dated 11-07-2022 in W.P(C)No.22410/2022.

2. The learned counsel appearing for the respondent

Bank, on instructions, would submit that the sale of the

property of the petitioner under the provisions of the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (SARFAESI Act) was

fixed on 11-07-2022. It is submitted that on account of the

directions contained in the judgment, which is sought to be

reviewed, the sale has been adjourned and even today the

petitioner has not paid off the liability by complying with the

directions contained in the judgment. It is submitted that

notwithstanding the above, the Bank has no objection in

granting four months time to the petitioner to clear the entire

liability of Rs.14,78,124/-( as on 31-07-2023).

3. The learned counsel for the petitioner would submit

that the petitioner may be given some more indulgence and R.P.No.511 of 2023 in

atleast five months time may be granted to clear the entire

liability.

4. Taking note of the above submissions and in

modification of the judgment dated 11-07-2022 in

W.P(C)No.22410 of 2022, the petitioner is permitted to clear

the liability of Rs.14,78,124/- (as on 31-07-2023) together with

any accrued interest and costs in five (05) equal monthly

instalments, commencing from 04-09-2023. Subsequent

instalments shall be paid on or before 4 th day of every

succeeding months. All other terms and directions contained

in the judgment will continue to operate and if the petitioner

commits any further default, it will open to the respondent

Bank to continue with the proceedings initiated against the

petitioner. It is also made clear that no further extension of

time will be considered under any circumstances.

The review petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ats R.P.No.511 of 2023 in

APPENDIX OF RP 511/2023

PETITIONER'S ANNEXURES

Annexure A1 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER FOR TAKING PHYSICAL POSSESSION (ON 15.05.2023 )DATED 29.04.2023