High Court of KeralaWP(C)/18517/2015disposed of

Vijayan C v. State Bank Of Travancore

2015-06-23Honourable Mr. Justice A.Muhamed Mustaque3 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE TUESDAY, THE 23RD DAY OF JUNE 2015/2ND ASHADHA, 1937 WP(C).No. 18517 of 2015 (L) ---------------------------- PETITIONER:

------------------- VIJAYAN C, AGED 55 YEARS, S/O.CHELLAPPAN, RESIDING AT KUMARAVILASOM BUNGLOW, OORUTTAMBALAM P.O., THIRUVANANTHAPURAM- 695 507.

BY ADV. SRI.R.V.SUJIT KUMAR RESPONDENT:

---------------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS AUTHORISED OFFICER/CHIEF MANAGER (ADVANCES) STATE BANK OF TRAVANCORE, REGION II, ZONAL OFFICE,THIRUVANANTHAPURAM - 695 001.

BY ADV. SRI.JAWAHAR JOSE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

mbr/

WP(C).No. 18517 of 2015 (L) --------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS:

------------------------------------- P1:

TRUE COPY OF DEMAND NOTICE DATED 31/01/2015.

RESPONDENTS' EXHIBITS:

NIL.

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

A.MUHAMED MUSTAQUE, J.

------------------------------------ W.P.(C).No.18517 of 2015 ----------------------------------- Dated this the 23rd day of June, 2015

J U D G M E N T

The petitioner availed a cash credit facility from the respondent Bank. On account of non repayment of the loan amount, the Bank initiated 'SARFAESI' proceedings. The petitioner impugns the same in this writ petition.

2. The learned counsel for the petitioner submits that, the petitioner is prepared to discharge the entire liability by way of equal monthly installments.

3. The learned Standing Counsel for the Bank submits that the total liability of the petitioner is around 4,50,000/- apart from ₹ incidental charges and other expenses.

Considering the facts and circumstances of the case, this writ petition is disposed of directing the petitioner to satisfy the entire liability in ten equal monthly installments starting from 10.07.2015 onwards. However, it is made clear that, if the petitioner commits default in remitting any one of the installments, the Bank is at liberty to proceed against the petitioner. To work out above reliefs, all coercive proceedings against the petitioner shall be kept in abeyance in tune with directions.

Sd/- A.MUHAMED MUSTAQUE, JUDGE.