Mrs.Latha Edward v. The Authorised Officer

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 01.11.2018 CORAM :

THE HON'BLE MRS.V.K.TAHILRAMANI, CHIEF JUSTICE AND The HON'BLE MR.JUSTICE M.DURAISWAMY W.P. No.28642 of 2018 Latha Edward .. Petitioner vs The Authorized Officer Bank of Baroda Kolathur Branch 198/2, Srinivasa Nagar Main Road Baba Nagar, 1st Main Road Villivakkam Chennai - 600 049 .. Respondent Prayer:

Writ Petition filed under Article 226 of the Constitution of India praying for issue of Writ of Mandamus declaring that the petitioner having fulfilled the statutory conditions as per Section 31(j) of the SARFAESI Act is eligible to the benefit of the above section and no further liability exists.

For Petitioner : Mr.R.Subramanian

O R D E R

(Order of the Court made by M.DURAISWAMY,J.) The petitioner has filed the above writ petition to issue a Writ of Mandamus declaring that the petitioner having fulfilled the statutory conditions as per Section 31(j) of the SARFAESI Act is eligible to the benefit of the above Section and no further liability exists.

2. As per Section 31(j) of the SARFAESI Act, the proceedings under the SARFAESI Act can be initiated only if the outstanding due payable by the borrower is more than 20%. The respondent-bank issued Section 13(2) notice on 05.06.2018 claiming a total sum of Rs.6,90,942/-[Rupees six lakhs ninety thousand nine hundred and forty two only] together with https://hcservices.ecourts.gov.in/hcservices/

interest. In the section 13(2) Notice, the respondent-bank has stated that two loans were sanctioned for a sum of Rs.15,51,600/-. Out of this amount, a sum of Rs.6,90,942/- was due and payable by the petitioner as on 05.06.2018.

3. From the above, it is clear that the claim made by the respondent-bank is more than 20%. Therefore, the petitioner is not entitled to the benefit of Section 31(j) of the SARFAESI.

4. In these circumstances, the Writ Petition is devoid of merits And the same is dismissed. No costs. Sd/- Assistant Registrar(CCC) //True Copy// Sub Assistant Registrar Rj To The Authorized Officer Bank of Baroda Kolathur Branch 198/2, Srinivasa Nagar Main Road Baba Nagar, 1st Main Road Villivakkam Chennai - 600 049 +1 cc to Mr.R.Subramanian, Advocate SR.No.76366 W.P. No.28642 of 2018 SSV(CO) CSL/19.11.2018 https://hcservices.ecourts.gov.in/hcservices/