Nasar vs the Authorised Officer

NASAR vs The Authorised Officer

Type Court Judgment Court Kerala Decided Jan 30, 2023

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https://sooperkanoon.com/case/1348607

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Citation: sooperkanoon.com/1348607
Court: Kerala High Court
Judge: Honourable Mr. Justice T.R.Ravi
Decided On: Jan 30, 2023
Case Number: WP(C)/10795/2022

Parties & Advocates

Appellant / Petitioner

NASAR

Respondent

The Authorised Officer

Excerpt

in the high court of kerala at ernakulampresent the honourable mr. justice t.r.ravi monday, the 30th day of january 2023 / 10th magha, 1944 petitioner: nasar aged 52 years s/o.ibrahim, changarappantavida house, velam, cherapuram (po), kozhikode (district), pin - 673507. by adv k.deepa (payyanur) respondent: the authorised officer kerala state co.op. bank limited, kallai road, kozhikode - 673002. sri. p. c. sasidaharan, sc. this writ petition (civil) having come up for admission on 30.01.2023, the court on the same day delivered the following:t.r. ravi, j.w.p.(c) no.10795 of 2022 dated this the 30th day of january, 2023judgmentthe prayer in the writ petition is for permission to the petitioner to pay off the amounts outstanding to the respondent in easy instalments.2. the standing counsel for the respondent oninstructions submits that an amount of 7,61,792/- is overdue. in the above circumstances, this writ petition is disposed of permitting the petitioner to pay the amount of 7,61,792/- in fifteen equal monthly instalments, the 1 st instalment falling due on or before 01.03.2023 and the subsequent instalments falling due on or before the 01 st day of the succeeding months. the petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. if the petitioner makes two consecutive defaults in the payment of the instalments as directed above, the respondent is at liberty to continue with coercive steps for recovery. the coercive steps initiated shall be kept in abeyance to facilitate the petitioner to pay the amounts in instalments as directed above. sd/- t.r.ravi judge mpm appendix of wp(c) 10795/2022 petitioner's exhibits exhibit1 true copy of the notice dated 02.02.2021issued in exercise of powers conferred under section 13 (4) read with rule 8 of the security interest (enforcement) rules 2002 to the petitioner with respect of the loan for rs. 15,42,950/- and interest.

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE T.R.RAVI MONDAY, THE 30TH DAY OF JANUARY 2023 / 10TH MAGHA, 1944 PETITIONER: NASAR AGED 52 YEARS S/O.IBRAHIM, CHANGARAPPANTAVIDA HOUSE, VELAM, CHERAPURAM (PO), KOZHIKODE (DISTRICT), PIN - 673507. BY ADV K.DEEPA (PAYYANUR) RESPONDENT: THE AUTHORISED OFFICER KERALA STATE CO.OP. BANK LIMITED, KALLAI ROAD, KOZHIKODE - 673002. SRI. P. C. SASIDAHARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
T.R. RAVI, J.
W.P.(C) No.10795 of 2022 Dated this the 30th day of January, 2023

JUDGMENT

The prayer in the writ petition is for permission to the petitioner to pay off the amounts outstanding to the respondent in easy instalments.

2. The Standing Counsel for the respondent on

instructions submits that an amount of 7,61,792/- is overdue. In the above circumstances, this writ petition is disposed of permitting the petitioner to pay the amount of 7,61,792/- in fifteen equal monthly instalments, the 1 st instalment falling due on or before 01.03.2023 and the subsequent instalments falling due on or before the 01 st day of the succeeding months. The petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioner makes two consecutive defaults in the payment of the instalments as directed above, the respondent is at liberty to continue with coercive steps for recovery. The coercive steps initiated shall be kept in abeyance to facilitate the petitioner to pay the amounts in instalments as directed above. Sd/- T.R.RAVI JUDGE mpm APPENDIX OF WP(C) 10795/2022 PETITIONER'S EXHIBITS Exhibit1 TRUE COPY OF THE NOTICE DATED 02.02.2021

ISSUED IN EXERCISE OF POWERS CONFERRED UNDER SECTION 13 (4) READ WITH RULE 8 OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002 TO THE PETITIONER WITH RESPECT OF THE LOAN FOR RS. 15,42,950/- AND INTEREST.

Same Court & Year Kerala · 2023 Same Parties NASAR vs The Authorised Officer Same Judge Honourable Mr. Justice T.R.Ravi