C.Lathakumari v. The Ananthasayanam Co-Operative Bank Ltd.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR WEDNESDAY, THE 11TH DAY OF FEBRUARY 2015/22ND MAGHA, 1936 WP(C).No. 2274 of 2015 (H) --------------------------- PETITIONER:
--------------------- C.LATHAKUMARI, W/O.J.SASIDHARAN NAIR, T.C.V/1636, MAHALEKSHMI NILAYAM, KACHANI, NETTAYAM.P.O, THIRUVANANTHAPURAM-695 023. BY ADVS.SRI.V.R.GOPU SRI.J.NARAYANA PILLAI RESPONDENTS:
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1. THE ANANTHASAYANAM CO-OPERATIVE BANK LTD., REPRESENTED BY ITS SECRETARY, POST OFFICE LANE, PUTHEN CHANTAHI, THIRUVANANTHAPURAM-695 001.
2. THE AUTHORISED OFFICER, POST OFFICE LANE, PUTHEN CHANTAHI, THIRUVANANTHAPURAM-695 001.
R1 BY ADVS. SMT.SREEDEVI KYLASANATH SRI.V.L.MONY SRI.ACHUTH KYLAS SRI.M.JAYAKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11-02-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 2274 of 2015 (H) ----------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXT.P1 THE DISCHARGE SUMMARY ISSUED BY THE DEPARTMENT OF NEPHROLOGY OF LAKESHORE HOSPITAL DATED 24/01/2013 EXT.P2 THE TRUE COPY OF OP MEDICAL REPORT AND PRESCRIPTION IN FAVOUR OF PETITIONER'S HUSBAND DATAED 17.05.2013 EXT.P3 THE TRUE COPY OF LOAN REPAYMENT RECORD IN FAVOUR OF PETITIONER DATED 29/06/2012 EXT.P4 THE TRUE COPY OF THE NOTICE ISSUED UNDER SARFAISI ACT ISSUED BY THE 2ND RESPONDENT DATED 16/06/2014 EXT.P5 TRUE COPY OF THE NOTICE ISSUED BY THE COMMISSIONER ADV.MERCY SAM DATED 25/11/2014 EXT.P6 THE RECEIPTS ISSUED BY THE IST RESPONDENT(2 IN NUMBERS), DATED 22/12/2014 EXT.P7 THE TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER DATED 22/12/2014 EXT.P8 THE TRUE COPY OF THE RECEIPT DATED 16/01/2015 EXT.P9 THE TRUE COPY OF REPRESENTATION SUBMITTED BY THE PETITIONER DATED 17/01/2015.
RESPONDENT(S)' EXHIBITS:
NIL /TRUE COPY/ P.A.TO.JUDGE sts
A.K.JAYASANKARAN NAMBIAR, J.
........................................................ W.P.(C).No.2274 of 2015 ......................................................... Dated this the 11th day of February, 2015
J U D G M E N T
The petitioner who had availed of a medical loan from the respondent bank, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter referred to as the 'SARFAESI Act', to recover the loan amounts. Ext.P4 is the 13(2) notice. In the writ petition, the petitioner impugns the steps initiated by the respondent bank for recovery of the loan amounts.
2. I have heard Sri.V.R.Gopu, the learned counsel for the petitioner and Smt.Sreedevi Kylasanath, the learned Standing Counsel appearing on behalf of the respondents .
3. On a consideration of the facts and circumstances of the case and the submissions made across the bar, I note that the sole prayer of the petitioner is to permit him to remit the balance amounts outstanding to the bank in easy instalments. Taking into account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:-
W.P.(C).No.4192 of 2015 i. The total overdue amount from the petitioner to the respondent bank, in respect of the loan is stated to be Rs.1,80,226/- together with accrued interest. Accordingly, if the petitioner pays the aforesaid amount of Rs.1,80,226/- together with accrued interest in six equal and successive monthly instalments commencing from 28.02.2015, the further proceedings for recovery shall be kept in abeyance.
ii. It is made clear that if the petitioner commits a default in respect of any of the instalments, he will lose the benefit of this judgment and the respondent bank will be free to continue the recovery proceedings against him from the stage at which they currently stand.
A.K.JAYASANKARAN NAMBIAR JUDGE mns/
W.P.(C).No.4192 of 2015