Sarojini K vs The Authorised Officer
2023 Latest Caselaw 1205 Ker

WP(C) NO. 41251 OF 2022

                                       1


             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
              THE HONOURABLE MR. JUSTICE GOPINATH P.
 WEDNESDAY, THE 18TH DAY OF JANUARY 2023 / 28TH POUSHA, 1944
                          WP(C) NO. 41251 OF 2022
PETITIONER:

            SAROJINI K,
            AGED 64 YEARS,
            W/O SIVADAS, KOLATTE HOUSE,
            KOTTIYOOR, KOTTIYUR P.O,
            KANNUR DISTRICT - 670 651.

            BY ADV M.R.SASITH



RESPONDENT:

            THE AUTHORISED OFFICER,
            KERALA GRAMIN BANK,
            THALASSERY, SUDAYA COMPLEX,
            MM ROAD, THALASSERY, MALAPPURAM,
            PINCODE - 670 101.

            BY ADV ANEESH K.




      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   18.01.2023,    THE     COURT    ON    THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 WP(C) NO. 41251 OF 2022

                                 2


                            JUDGMENT

Petitioner has approached this Court challenging

proceedings under the SARFAESI Act which have been initiated by

the bank for recovery of the amounts due from the petitioner.

2. It was submitted on behalf of the respondent bank that

the petitioner committed default in repayment of a cash credit

facility and the outstanding amount as on 10.12.2022 is

Rs.7,94,615/-(Rupees seven lakhs ninety four thousand six

hundred and fifteen 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 petitioner as well

as the learned Standing Counsel for the respondent.

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 petitioner 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 outstanding amount of

Rs.7,94,615/-(Rupees seven lakhs ninety four thousand six WP(C) NO. 41251 OF 2022

hundred and fifteen only) along with any accrued interest, costs

and charges from the petitioner on the following conditions:

(i)The outstanding amount of Rs.7,94,615/-(Rupees seven lakhs ninety four thousand six hundred and fifteen only) along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments.

(ii)The first instalment shall be paid on or before 10.02.2023 and the subsequent instalments shall be paid on or before the 10th 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 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 DK WP(C) NO. 41251 OF 2022

APPENDIX OF WP(C) 41251/2022

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE BY THE RESPONDENT BANK TO THE PETITIONER DATED 24/11/2022