High Court of KeralaWP(C)/13192/2015disposed of

Arunesh K A v. Idbi Bank Limited , Rep By Its Deputy General Manager

2015-07-02Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE THURSDAY, THE 2ND DAY OF JULY 2015/11TH ASHADHA, 1937 WP(C).No. 13192 of 2015 (Y) --------------------------------- PETITIONER(S):

-------------------------- ARUNESH.K.A , AGED 32 YEARS, S/O.AYYAPPAN.K.CHAMI, KANNAYIL HOUSE, VAZHAMPURAM P.O, PALAKKAD - 678 595.

BY ADV. SRI.V.A.JOHNSON (VARIKKAPPALLIL) RESPONDENT(S):

---------------------------- IDBI BANK LIMITED, RETAIL ASSETS CENTRE, IDBI BANK BUILDING, NEAR PASSPORT OFFICE, PANAMPILLY NAGAR, KOCHI - 36. REPRESENTED BY ITS DEPUTY GENERALMANAGER & AUTHORISED OFFICER.

R1 BY ADV. SRI.ANIL S.RAJ R1 BY ADV. SRI.MOHANDAS N.S R1 BY ADV. SMT.K.N.RAJANI R1 BY ADV. SRI.RADHIKA RAJASEKHARAN P.

R1 BY ADV. SMT.ANILA PETER R1 BY ADV. SRI.T.S.SUMSON R1 BY ADV. SRI.J.VIVEK GEORGE THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 02-07-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 13192 of 2015 (Y) ----------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXT.P-1: TRUE COPY OF THE POSSESSION NOTICE DATED 13.03.2015 ISSUED BY THE RESPONDENT RESPONDENT(S)' EXHIBITS NIL --------------------------------------- //TRUE COPY// P.A. TO JUDGE

A.MUHAMED MUSTAQUE, J.

--------------------------------------- W.P.(C).No.13192 of 2015 ---------------------------------------- Dated this the 2ndday of July, 2015

JUDGMENT

The petitioner has approached this Court challenging SARFAESI proceedings initiated by the respondent Bank.

2. The overdue amount in the loan account referred in the proceedings is more than Rs.7,50,546/-. The petitioner submits that he may be permitted to clear the overdue amount and direct the Bank to regularise the loan account.

3. The learned Counsel for the Bank opposes the prayer of the petitioner.

4. In the light of the above, the following directions are issued:

(i) The petitioner shall clear the overdue amount as on today in four equal monthly instalments along with regular EMI.

W.P.(C).No.13192 of 2015 (ii) If the petitioner clears the overdue amount as directed above, the Bank shall regularise the loan account of the petitioner.

(iii) If the petitioner commits default in repayment of any of the instalments, the Bank is free to proceed against the petitioner in accordance with law. This writ petition is disposed of as above. No costs.

Sd/- A.MUHAMED MUSTAQUE Judge