High Court of KeralaWP(C)/7825/2015disposed of

Aneesh.V.J v. The Authorised Officer

2015-06-11Honourable Mr. Justice A.Muhamed Mustaque3 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE THURSDAY, THE 11TH DAY OF JUNE 2015/21ST JYAISHTA, 1937 WP(C).No. 7825 of 2015 (C) --------------------------- PETITIONER(S) :

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1. ANEESH V.J., S/O. JOSEPH VADAKKEMURIYIL, AGED 32 YEARS, VADAKKEMURIYIL HOUSE KALANKI P.O., ULIKKAL, IRITTY-VIA., KANNUR DISTRICT.

2. LINCY, W/O. ANEESH, AGED 25 YEARS VADAKKEMURIYIL HOUSE, KALANKI P.O.

ULIKKAL, IRITTY-VIA., KANNUR DISTRICT.

BY ADVS.SRI.BABU JOSEPH KURUVATHAZHA SRI.P.T.ABHILASH RESPONDENT(S) :

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1. THE AUTHORISED OFFICER APPOINTED UNDER SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002, FEDERAL BANK, SAMC, ZONAL OFFICE, FEDERAL TOWERS, ARAYIDATHUPALAM, MAVOOR ROAD, KOZHIKODE-673 016.

2. THE CHIEF MANAGER FEDERAL BANK, SAMC, ZONAL OFFICE FEDERAL TOWERS, ARAYIDATHUPALAM, MAVOOR ROAD KOZHIKODE-673 016.

3. THE MANAGER FEDERAL BANK LTD., ULIKKAL BRANCH, IRITTY - VIA., KANNUR DISTRICT, PIN-670 705.

BY ADVS. SRI.A.ANTONY SMT.LEELAMMA ANTONY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

Mn ...2/-

WP(C).No. 7825 of 2015 (C) --------------------------------------- APPENDIX PETITIONERS' EXHIBITS :

------------------------------------- EXT. P1 :

COPY OF THE PASS BOOK OF THE 1ST PETITIONER ISSUED BY THE 3RD RESPONDENT PERTAINING TO THE LOAN AVAILED BY THE 1ST PETITIONER.

EXT. P2 :

COPY OF THE DEMAND NOTICE DTD.31.12.2014 ISSUED BY THE 1ST RESPONDENT.

EXT. P3 :

COPY OF THE DETAILS OF THE OUTSTANDING LOAN AS ON 6.3.2015 ISSUED BY THE 3RD RESPONDENT.

RESPONDENT(S)' EXHIBITS : NIL -------------------------------------------------------- //TRUE COPY// P.A. TO JUDGE Mn

A.MUHAMED MUSTAQUE, J.

------------------------------------ W.P.(C).No.7825 of 2015 ----------------------------------- Dated this the 11th day of June, 2015

J U D G M E N T

The 1st petitioner availed a loan from the 3rd respondent by pledging the property owned by both the petitioners. The petitioners defaulted in repayment of the loan, which resulted in initiation of 'SARFAESI' proceedings.

2. The only request made by the petitioners before this Court is that, they may be given installment facility to discharge the entire liability.

3. The learned Standing Counsel for the Bank submits that, the total liability of the petitioner is 4,18,693/-. ₹

4. Considering the facts and circumstances of the case, this writ petition is disposed of with the following directions :

1. The petitioner shall remit an amount of 50,000/- ₹ (Rupees Fifty thousand only) on or before 25.06.2015.

2. Thereafter, the petitioner shall discharge the entire liability in ten equal monthly installments starting from the month of July 2015 onwards.

3. If the petitioner commits default in complying with any of the directions stipulated as above, the Bank is at liberty to proceed against the petitioner.

Sd/- A.MUHAMED MUSTAQUE, JUDGE.