Thanka Vs. the Authorised Officer

Thanka vs The Authorised Officer

Type Court Judgment Court Kerala Decided Jun 02, 2014

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https://sooperkanoon.com/case/1142719

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Citation: sooperkanoon.com/1142719
Court: Kerala High Court
Judge: Honourable Mr.Justice K.Vinod Chandran
Decided On: Jun 02, 2014
Subject: Education

Case Summary

AI-generated summary - not the official court judgment text.

Education

Key legal issue: Education

Parties & Advocates

Appellant / Petitioner

Thanka

Respondent

The Authorised Officer

Excerpt

.....dated this the 2nd day of june, 2014 judgment the petitioner availed of a housing loan in which admittedly default was committed. the petitioner in this writ petition is aggrieved by the recovery proceedings taken under the sarfaesi act as also possession taken of the residential building, in which the petitioner is residing along with his family. further proceedings against the property was stayed by this court in the writ petition, on condition of remittance of rs.5,00,000/-. the petitioner submits that the petitioner would regularise the bank account in a time bound manner after credit is given to rs.5,00,000/- deposited, as per the interim order granted by this court.2. the learned standing counsel appearing for the respondent bank, on instruction, submits that the w.p(c) no.12571/2014 ::2:: petitioner had availed of the loan in the year 2010 and the period of loan was 180 months. the loan amount availed of was slightly more than 51 lakhs for constructing a residential building. the default having been committed from the initial stage, it is submitted that more than rs.8 lakhs is due in the loan account being defaulted installments and further interest is due thereon. it is further submitted that the sarfaesi proceedings were initiated and possession taken of the residential property only in the circumstance of the continued default.2. in the circumstances stated above and the undertaking of the petitioner that the loan would be settled in a time bound manner, this court is of the opinion that the respondent bank be directed to keep the proceedings in abeyance till then. the respondent bank shall issue statement regarding the defaulted arrears as on 15.06.2014 within a period of two weeks from the date of w.p(c) no.12571/2014 ::3:: receipt of a certified copy of this judgment. the petitioner shall clear off the said arrears in three equal monthly installments starting from 02.07.2014, and on the 2nd of the succeeding two months. when the.....

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN MONDAY,THE2D DAY OF JUNE201412TH JYAISHTA, 1936 WP(C).No. 12571 of 2014 (V) ------------------------------------------- PETITIONERS: ---------------------- 1. THANKA, AGED65YEARS, W/O.LATE KUMARAN, PERUMBULLISSERY HOUSE, BLANGAD, KADAPPURAM VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT - 680 506.

2. P.K. MOHANAN, S/O. LATE KUMARAN, PERUMBULLISSERY HOUSE, BLANGAD, KADAPPURAM VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT - 680 506.

3. SMITHA MOHAN, W/O. P.K. MOHANAN, PERUMBULLISSERY HOUSE, BLANGAD, KADAPPURAM VILLAGE, CHAVAKKAD TALUK, THRISSUR DISTRICT - 680 506. BY ADVS.SRI.RAJIT SMT.TULASI PANICKER RESPONDENT(S): ---------------------------- 1. THE AUTHORIZED OFFICER, IDBI BANK LTD., EMMATTY TOWERS, ST. THOMAS COLLEGE ROAD, EAST FORT,THRISSUR- 680 005.

2. IDBI BANK LTD., EMMATTY TOWERS, ST. THOMAS COLLEGE ROAD, EAST FORT, THRISSUR - 680 005.REPRESENTED BY ITS BRANCH MANAGER. BY ADV. SRI.PRAKASH P.GEORGE THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON0206-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Msd. WP(C).No. 12571 of 2014 (V) ---------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT P1 : TRUE COPY OF THE NOTICE ISSUED BY THE1T RESPONDENT BANK TO THE PETITIONERS FOR ENFORCING SECURITY. EXHIBIT P2 : TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED2204-2014 TO THE3D PETITIONER. RESPONDENT(S)' EXHIBITS: ----------------------------------------- EXHIBIT R1(A) : TRUE COPY OF THE POSTAL RECEIPTS. EXHIBIT R1(B) : TRUE COPY OF THE STATEMENT OF ACCOUNTS. //TRUE COPY// P.A.TO JUDGE. Msd. K.VINOD CHANDRAN, J.

--------------------------------------- W.P.(C).No.12571 of 2014 ---------------------------------------- Dated this the 2nd day of June, 2014

JUDGMENT

The petitioner availed of a housing loan in which admittedly default was committed. The petitioner in this writ petition is aggrieved by the recovery proceedings taken under the SARFAESI Act as also possession taken of the residential building, in which the petitioner is residing along with his family. Further proceedings against the property was stayed by this Court in the writ petition, on condition of remittance of Rs.5,00,000/-. The petitioner submits that the petitioner would regularise the Bank account in a time bound manner after credit is given to Rs.5,00,000/- deposited, as per the interim order granted by this Court.

2. The learned Standing Counsel appearing for the respondent Bank, on instruction, submits that the W.P(C) No.12571/2014 ::2:: petitioner had availed of the loan in the year 2010 and the period of loan was 180 months. The loan amount availed of was slightly more than 51 lakhs for constructing a residential building. The default having been committed from the initial stage, it is submitted that more than Rs.8 lakhs is due in the loan account being defaulted installments and further interest is due thereon. It is further submitted that the SARFAESI proceedings were initiated and possession taken of the residential property only in the circumstance of the continued default.

2. In the circumstances stated above and the undertaking of the petitioner that the loan would be settled in a time bound manner, this Court is of the opinion that the respondent Bank be directed to keep the proceedings in abeyance till then. The respondent Bank shall issue statement regarding the defaulted arrears as on 15.06.2014 within a period of two weeks from the date of W.P(C) No.12571/2014 ::3:: receipt of a certified copy of this judgment. The petitioner shall clear off the said arrears in three equal monthly installments starting from 02.07.2014, and on the 2nd of the succeeding two months. When the arrears have been paid up as per the installments granted by this Court, the respondent Bank shall restore the property to the petitioner and permit the petitioner to satisfy the loan account as per the original agreement. If the petitioner settles the entire arrears even before the three month period, necessarily, the property would be restored to the petitioner Writ petition disposed of. No costs. Sd/- K.VINOD CHANDRAN, Judge jma //true copy// P.A to Judge

Same Court & Year Kerala · 2014 Same Parties Thanka vs The Authorised Officer Same Subject Education Same Judge Honourable Mr.Justice K.Vinod Chandran