High Court of KeralaWP(C)/4245/2015disposed of

Elizabeth Thomas v. Kerala State Financial Enterprises Ltd

2015-02-12Honourable Dr. Justice A.K.Jayasankaran Nambiar5 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR THURSDAY, THE 12TH DAY OF FEBRUARY 2015/23RD MAGHA, 1936 WP(C).No. 4245 of 2015 (E) --------------------------- PETITIONER(S) :

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1. ELIZABETH JOSEPH, SIBI VILLA, DUTCH SQUARE, ALAPPUZHA-688 001

2. SEBASTIAN JOSEPH, SIBI VILLA, DUTCH SQUARE, ALAPPUZHA-688 001 BY ADVS.SRI.K.NIRMALAN SRI.A.RAJASIMHAN RESPONDENTS:

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1. KERALA STATE FINANCIAL ENTERPRISES LTD., REPRESENTED BY ITS MANAGER, LOAN UNIT, SEA VIEW WARD, ALAPPUZHA. PIN-688 001

2. SPECIAL DEPUTY COLLECTOR (RR), KERALA STATE FINANCIAL ERNTERPRISES LTD., SEA VIEW WARD, ALAPPUZHA. PIN-688 001 R1 BY SRI.BABU VARGHESE,SENIOR ADVOCATE SRI.ALEXANDER.C.V., SC, KERALA STATE FINANCIAL ENTERPRISES R2 BY GOVERNMENT PLEADER SRI.SHYSON P. MANGUZHA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12-02-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 4245 of 2015 (E) ---------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- P1:- TRUE COPY OF THE NOTICE DTD 23/1/2015 P2:- TRUE COPY OF THE REQUEST DTD 12/1/2015 RESPONDENT(S)' EXHIBITS:

NIL /TRUE COPY/ P.A.TO.JUDGE sts

A.K.JAYASANKARAN NAMBIAR, J.

........................................................ ......................................................... Dated this the 12th day of February, 2015

JUDGMENT

The petitioners who are the sureties to a chitty loan availed from the respondent company, are aggrieved by the recovery steps initiated by the respondent company for realisation of the defaulted dues of the borrower. Ext.P1 is the recovery notice issued to the petitioners. In the writ petition, the petitioner impugns the steps initiated by the 2nd respondent for recovery of the loan amounts.

2. I have heard Sri.K.Nirmalan, the learned counsel for the petitioner and Sri.C.V.Alaxander, the learned Standing counsel appearing on behalf of the 1st respondent and also Sri.Shyson P.Manguzha, the learned Government Pleader for 2nd respondent.

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 petitioners is to permit them to remit the balance amounts outstanding to the bank in easy instalments. Taking into account the plea of financial hardship raised by the petitioners, I dispose the writ petition with the following directions:- i. The total amount outstanding from the petitioners to the 1st

respondent is stated to be Rs.18,74,078/- together with accrued interest and other charges. Accordingly, if the petitioners pay the aforesaid amount of Rs.18,74,078/- in 12 equal and successive monthly instalments commencing from 01.03.2015, then further proceedings for recovery shall be kept in abeyance. ii. It is made clear that if the petitioners commit a default in respect of any of the instalments, they will lose the benefit of this judgment and the respondents will be free to continue the recovery proceedings against them from the stage at which they currently stand.

A.K.JAYASANKARAN NAMBIAR JUDGE mns/