High Court of KeralaWP(C)/17358/2015disposed of

Hareesh T.M. v. The Authorised Officer

2015-06-10Honourable Mr. Justice A.Muhamed Mustaque3 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE WEDNESDAY, THE 10TH DAY OF JUNE 2015/20TH JYAISHTA, 1937 WP(C).No. 17358 of 2015 (T) ---------------------------- PETITIONER:

------------------- HAREESH T.M., AGED 33 YEARS, S/O.MOHANAN, THUNDATHIL HOUSE, CHELACHUVADU P.O., IDUKKI.

BY ADV. SRI.L.RAJESH NARAYAN RESPONDENT(S):

--------------------------

1. THE AUTHORISED OFFICER, INDUSIND BANK LTD, KATTAPANA BRANCH, IDUKKI-686 513.

2. THE BRANCH MANAGER INDUSLND BANK LTD, KATTAPANA BRANCH, IDUKKI-686 513.

BY ADV. SRI.G.HARIHARAN, SC ADV. SRI.PRAVEEN.H.

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 17358 of 2015 (T) ---------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS:

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

TRUE COPY OF THE STATEMENT OF ACCOUNTS PERTAINING TO THE LOAN ACCOUNT.

EXT.P2.

TRUE COPY OF THE NOTICE DATED 22/8/2014.

EXT.P3.

TRUE COPY OF THE CMP 1231/2015 DATED 10/3/2015. EXT.P4.

TRUE COPY OF THE ORDER DATED 25/3/2015 IN CMP NO.1231/2015. RESPONDENTS' EXHIBITS:

NIL.

//TRUE COPY// P.S. TO JUDGE mbr/

A.MUHAMED MUSTAQUE, J.

******************************************************* W.P.(C) No.17358 of 2015 ******************************************************* Dated this the 10th day of June, 2015

JUDGMENT

The petitioner availed a vehicle loan from the respondent Bank for purchasing a JCB. On account of the default in repayment of the loan, the Bank is proceeding under SARFAESI Act. The petitioner, apprehending dispossession, approached this Court.

2. Learned counsel for the Bank submits that total overdue amount is Rs.2,90,000/- and the liability is more than Rs.19,00,000/-. It is also submitted that the term of the loan would expire only in the year 2017.

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

1. The petitioner shall discharge the entire overdue amount in six monthly instalments along with regular EMI.

2. If the petitioner clears the entire overdue amount within the time granted by this Court, the petitioner's account shall be regularized.

Sd/- A.MUHAMED MUSTAQUE, JUDGE ln