B.R.S. Kanagaraj v. The Authorized Officer/Chief Manager

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 25.03.2025

CORAM:

THE HONOURABLE MRS.JUSTICE J.NISHA BANU and THE HONOURABLE MRS.JUSTICE S.SRIMATHY and W.M.P(MD)No.3571 of 2025 B.R.S.Kanagaraj ... Petitioner vs.

The Authorized Officer/Chief Manager, State Bank of India, Uthamapalayam Branch, South Car Street, Uthamapalayam, Theni District - 625 533.

... Respondent PRAYER : Writ Petition filed under Article 226 of the Constitution of India praying for issuance of a Writ of Certiorari, calling for the records pertaining to the impugned notice issued by the respondent under Section 134 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 dated 05.02.2025 and quash the same. 1/5

For Petitioner : Mr.C.Kathiravan For Respondent : Mr.Pethu Rajesh

ORDER

(Order of the Court was made by S.SRIMATHY, J.) This Writ Petition is filed challenging the notice dated 05.02.2025 issued by the respondent under Section 13(4) of the SARFAESI Act. 2.When the matter came up for hearing on 24.02.2025, this Court passed the following order:

"This Writ Petition is filed challenging the notice dated 05.02.2025 issued by the respondent under Section 13(4) of SARFAESI Act. 2.Mr.P.Pethu Rajesh, learned Standing Counsel takes notice for the respondent and submits that as on 05.02.2025, total outstanding amount is at Rs.19,04,410/- (Rupees Nineteen Lakhs Four Thousand Four Hundred and Ten Only).

3.The learned counsel appearing for the petitioner would submit that the petitioner is ready to pay the entire due amount in six equal monthly installments, for which, the learned Standing Counsel for the respondent is not agreeable and would submit that the entire amount has to be paid by the petitioner in four equal monthly installments. 4.Considering the submissions made on either side, the petitioner is directed to pay the entire due amount in four equal monthly installments and the first installment shall be paid on or before 24.03.2025. 2/5

5.Post the matter on 25.03.2025 for reporting compliance. Till such time, there shall be an order of interim stay." 3.Today, when the matter is taken up for hearing, the learned counsel appearing for the petitioner would submit that the first instalment is paid on 20.03.2025 and the conditional order passed by this Court, dated 24.02.2025 has been complied with.

4.In view of the above, the petitioner is directed to pay the balance three instalments to the respondent Bank and the first instalment shall be paid on or before 25.04.2025 and the subsequent two instalments shall be paid on or before 25th day of every English calender month until the entire payment is made. 5.With the above direction, this Writ Petition is disposed of. There shall be no order as to costs. Consequently, connected Miscellaneous Petition is closed. [J.N.B.,J.] & [S.S.Y.,J.] 25.03.2025 NCC : Yes / No Index : Yes / No 3/5

To The Authorized Officer/Chief Manager, State Bank of India, Uthamapalayam Branch, South Car Street, Uthamapalayam, Theni District - 625 533.

4/5

J.NISHA BANU , J.

and S.SRIMATHY, J.

ps ORDER MADE IN DATED : 25.03.2025 5/5