Nagesh Kumar T.N vs Dhanlaxmi Bank Ltd
2023 Latest Caselaw 2765 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR. JUSTICE T.R.RAVI
    WEDNESDAY, THE 1ST DAY OF MARCH 2023 / 10TH PHALGUNA, 1944
                        WP(C) NO. 3818 OF 2023
PETITIONERS:

    1     NAGESH KUMAR T.N.
          AGED 67 YEARS
          S/O NARAYANAN NAMBIAR, AVANI, MEPPAYIL P.O.,
          NADAKKUTHAZHA, VADAKARA, KOZHIKODE, PIN - 673104

    2     VASANTHA E.K.
          AGED 57 YEARS
          W/O NAGESH KUMAR T.N., AVANI, MEPPAYIL P.O.,
          NADAKKUTHAZHA, VADAKARA, KOZHIKODE, PIN - 673104

          BY ADVS.
          J.G.SYAMNATH
          MUHAMMED SAFEER A.



RESPONDENT:

          DHANLAXMI BANK LTD.
          REGIONAL OFFICE, GROUND FLOOR, ESSAY TOWERS, JAIL ROAD,
          KOZHIKODE - 673004
          REPRESENTED BY ITS AUTHORISED OFFICER

          BY ADVS.
          C.K.KARUNAKARAN,SC,DHANALAKSHMI BAN(SC-855)
          P.VIJAYARAGHAVAN
          ARAVIND BABU
          LEKSHMI P. NAIR)
          REMIL REGI GEORGE




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 3818 OF 2023                    2


                             T.R. RAVI, J.
              --------------------------------------------
                       W.P.(C)No.3818 of 2023
               --------------------------------------------
                Dated this the 1st day of March, 2023


                                   JUDGMENT

The petitioners have approached this Court seeking permission

to pay off the amounts due to the Bank in easy instalments. When

the case is taken up today, it is submitted that the securitisation

application which had been preferred before the Debts Recovery

Tribunal has been withdrawn and the petitioner may be permitted to

pay off the amounts in instalments. It is also prayed that

dispossession may be stayed in the meanwhile. The Counsel for the

respondent on instructions submits that an amount of

Rs.1,05,12,816.28/- is outstanding and that the building which is

sought to be taken possession of is an unoccupied building and there

is no reason for stay of the said proceedings. It is submitted that if

the petitioners are willing to pay a substantial amount before

31.03.2023 and the balance in 11 equal monthly instalments, the

sale of the property can be put off to facilitate such payment.

The writ petition is hence disposed of directing the petitioners to

pay a sum of Rs.20,00,000/- on or before 29.03.2023 and the

balance amount with accrued interest in 11 equal monthly

instalments, the first instalment falling due on or before 01.04.2023

and the subsequent instalments falling due on or before the 1 st of the

succeeding months. If the petitioners continue to pay the instalments

as directed, the sale of the property shall be deferred. However, if

there is any default, the respondent can proceed with the sale in

accordance with law. There is no stay for dispossession of the

petitioner.

Sd/-

T.R.RAVI JUDGE

LEK

APPENDIX OF WP(C) 3818/2023

PETITIONER EXHIBITS

Exhibit-P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(4) OF THE SARFAESI ACT ISSUED BY THE RESPONDENT DATED 27-05-2022

Exhibit-P2 A TRUE COPY OF THE NOTICE DATED 30-01-2023 ISSUED BY THE ADVOCATE COMMISSIONER