Selvaraj v. The Kerala State Financial Enterprises Ltd
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR MONDAY, THE 23RD DAY OF MARCH 2015/2ND CHAITHRA, 1937 WP(C).No. 8293 of 2015 (J) ------------------------------------- PETITIONER(S):
---------------------- SELVARAJ, AGED 55 YEARS S/O. LATE SUBRAMANIAN, 32/772, GEETHANJALI NIVAS VADAKKANTHARA P.O., PALAKKAD.
BY ADVS.SRI.JACOB SEBASTIAN SMT.SHAMSEERA. C.ASHRAF SMT.ANU JACOB SRI.T.U.SUJITH KUMAR RESPONDENT(S):
-------------------------
1. THE KERALA STATE FINANCIAL ENTERPRISES LTD, REPRESENTED BY ITS MANAGING DIRECTOR, BHADRATHA POST BOX NUMBER 520, MUSEUM ROAD, THRISSUR - 680 020.
2. SPECIAL DEPUTY TAHSILDAR, KERALA STATE FINANCIAL ENTERPRISES LIMITED PALAKKAD - II BRANCH, POST BOX NUMBER 46 OPPO. AROMA THEATRE, PALAKKAD- 678 001.
R1 BY SRI.ALEXANDER.C.V., SC R2 BY GOVERNMENT PLEADER SMT.SOBHA ANNAMMA EAPEN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23-03-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
PJ
WP(C).No. 8293 of 2015 (J) -------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT-P1TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 18/12/2014.
RESPONDENT(S)' EXHIBITS --------------------------------------- NIL.
/ TRUE COPY / P.S. TO JUDGE PJ
A.K.JAYASANKARAN NAMBIAR, J.
=========================================== W.P.(C). No. 8293 of 2015 ===================================================== Dated this the 23rd day of March, 2015
JUDGMENT
The petitioner, who had availed a loan from the respondent company, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Kerala Revenue Recovery Act, to recover the loan amounts. Ext.P1 is the notice issued to the petitioner. In the writ petition, the petitioner impugns the steps initiated by the respondent bank for recovery of the loan amounts.
2.
I have heard the learned counsel appearing on behalf of the petitioner as also 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 installments. Taking into account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:- (i) The total overdue amount, in respect of the loan,
-2W.P.(C). No. 8293 of 2015 is stated to be Rs.6,30,212/- together with interest at the rate of 12% with effect from July, 2009. Accordingly, if the petitioner remits 30% of the dues on or before 30.04.2015 and the balance in ten equal and successive monthly installments commencing from 30.05.2015, then the recovery steps initiated against him by the respondent bank shall be kept in abeyance.
(ii) It is made clear that if the petitioner commits a default in respect of any of the installments, 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 presently stand.
Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE das