Sheeba vs the Branch Manager,

Sheeba vs The Branch Manager,

Type Court Judgment Court Kerala Decided Mar 31, 2021

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https://sooperkanoon.com/case/1617699

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Citation: sooperkanoon.com/1617699
Court: Kerala High Court
Judge: Honourable Mr. Justice a.M.Badar
Decided On: Mar 31, 2021
Case Number: WP(C)/6607/2021

Parties & Advocates

Appellant / Petitioner

Sheeba

Respondent

The Branch Manager,

Excerpt

.....standing counsel appearing for respondents, relying on the statement filed, submits that the recalled amount is more than rs.10.84 lakhs and the defaulted amount comes toabout rs.4,37,697/-. learned standing counsel further submits that the petitioner can pay an amount of rs.1.5 lakhs today and balance amount in six instalments so as to enable the respondents to keep the action under the sarfaesi act in abeyance. considering the facts and circumstances of the instant case and as the respondents are willing to regularise the loan, this writ petition is disposed of with the following directions: w.p.(c) no.6607/2021 3the petitioner to deposit an amount of rs.50,000/- (rupees fifty thousand only) with the respondents within a period of one week from today for discharge of her liability towards overdue amount of loan. in addition, the petitioner should pay the emis regularly. the petitioner should also deposit with the respondents balance of the overdue amount with interest and incidental charges in ten equated successive monthly instalments commencing from 26.04.2021. if the petitioner complies with these directions, then the respondents shall keep coercive action under the sarfaesi act initiated against the petitioner in abeyance. a single default on the part of the petitioner in compliance with these directions shall entail the respondents to continue with the coercive action initiated against the petitioner. no further extension of time shall be granted to the petitioner for compliance with these directions. sd/- a.m.badar judgesmp w.p.(c) no.6607/2021 4 appendix petitioner's exhibits:exhibit p1 a true copy of the possession notice dated exhibit p2 a true copy of the representation dated respondents' exhibits: nil.true copy p.s to judge smp

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE A.M.BADAR WEDNESDAY, THE 31ST DAY OF MARCH 2021 / 10TH CHAITHRA, 1943 WP(C).No.6607 OF 2021(A) PETITIONER: SHEEBA AGED 47 YEARS W/O.SHAJI, PARAMBAN HOUSE, V.O.THURUTHU, METHALA VILLAGE, KODUNGALLUR TALUK, THRISSUR DT. BY ADV. SMT.M.R.REENA RESPONDENTS: 1 THE BRANCH MANAGER, THE KERALA STATE CO-OP BANK, KOTTAPURAM BRANCH, THRISSUR DT. - 680 022. 2 THE AUTHORIZED OFFICER THE KERALA STATE CO-OP BANK LTD., HEAD OFFICE, SAHAKARANA SAPTHADHI MANDIRAM, TUDA ROAD, KOVILAKATHUPADAM, THIRUVAMBADY P.O., THRISSUR - 680 022. R1-2 BY SRI.P.C.SASIDHARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) No.6607/2021 2

JUDGMENT

Dated this the 31st day of March 2021 Heard both sides.

2. The petitioner had taken a loan of Rs.8 lakhs for a term of

120 months in the year 2017 and she had defaulted in repayment. This resulted in initiation of action under the SARFAESI Act. The petitioner now wants to get the loan regularised by instalments.

3. Learned counsel for the petitioner submits that the petitioner is willing to pay Rs.25,000/- (Rupees twenty five thousand only) in a week and balance amount in ten equated monthly instalments.

4. Learned Standing Counsel appearing for respondents, relying on the statement filed, submits that the recalled amount is more than Rs.10.84 lakhs and the defaulted amount comes to

about Rs.4,37,697/-. Learned Standing Counsel further submits that the petitioner can pay an amount of Rs.1.5 lakhs today and balance amount in six instalments so as to enable the respondents to keep the action under the SARFAESI Act in abeyance. Considering the facts and circumstances of the instant case and as the respondents are willing to regularise the loan, this writ petition is disposed of with the following directions: W.P.(C) No.6607/2021 3

The petitioner to deposit an amount of Rs.50,000/- (Rupees fifty thousand only) with the respondents within a period of one week from today for discharge of her liability towards overdue amount of loan. In addition, the petitioner should pay the EMIs regularly. The petitioner should also deposit with the respondents balance of the overdue amount with interest and incidental charges in ten equated successive monthly instalments commencing from 26.04.2021. If the petitioner complies with these directions, then the respondents shall keep coercive action under the SARFAESI Act initiated against the petitioner in abeyance. A single default on the part of the petitioner in compliance with these directions shall entail the respondents to continue with the coercive action initiated against the petitioner. No further extension of time shall be granted to the petitioner for compliance with these directions. Sd/- A.M.BADAR JUDGE

smp W.P.(C) No.6607/2021 4 APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1                A TRUE COPY OF THE POSSESSION NOTICE DATED
EXHIBIT P2                A TRUE COPY OF THE REPRESENTATION DATED
RESPONDENTS' EXHIBITS:   NIL.

True Copy P.S to Judge smp

Same Court & Year Kerala · 2021 Same Parties Sheeba vs The Branch Manager, Same Judge Honourable Mr. Justice a.M.Badar