High Court of KeralaWP(C)/24886/2015disposed of

V.V.Jayakumar v. Vijaya Bank

2015-08-19Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE WEDNESDAY, THE 19TH DAY OF AUGUST 2015/28TH SRAVANA, 1937 WP(C).No. 24886 of 2015 (I) ---------------------------- PETITIONER :

-------------------- V.V.JAYAKUMAR S/O.MR. M.V.MENON, C.C NO.12/642-A, NANDANAM NEAR FEDERAL BANK, PARAVANA JUNCATION, KOOVAPPADAM, KOCHI - 682 002.

BY ADV. SRI.T.RAJESH RESPONDENT :

------------------------ VIJAYA BANK M.G ROAD BRANCH, JOSE JUNCTION REPRESENTED BY ITS AUTHORISED OFFICER KOCHI - 602 016.

BY ADV. SMT.LATHA KRISHNAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19-08-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

Mn ...2/-

WP(C).No. 24886 of 2015 (I) --------------------------------------- APPENDIX PETITIONERS' EXHIBITS :

------------------------------------- EXHIBIT P1.

COPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK DATED 6.4.15.

EXHIBIT P2.

COPY OF THE REPRESENTATION ISSUED TO THE RESPONDENT BY THE PETITIONER DATED 11.6.15.

EXHIBIT P3.

COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT ON 5.8.15.

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

A. MUHAMED MUSTAQUE, J ----------------------------------------------------- W.P.(C).No. 24886 of 2015 ----------------------------------------------------- Dated this the 19th day of August, 2015

JUDGMENT

The petitioner has approached this Court challenging SARFAESI proceedings. The petitioner availed a cash credit facility from the respondent-Bank. The only prayer of the petitioner before this Court is that he may be given instalment facility to discharge the entire liability.

2. According to the learned counsel for the Bank, the total liability of the petitioner would come around Rs.61 lakhs.

Considering the facts and circumstances, the following directions are issued :

i) The petitioner shall remit Rs.5 lakhs on or before 15.09.2015.

ii) Thereafter, the petitioner shall continue to remit Rs.2 lakhs for a period of nine months from succeeding month onwards.

iii) And in the tenth month, the petitioner shall discharge the entire balance amount in lump sum.

W.P.(C).No. 24886 of 2015 -2iv) If the petitioner commits default in remitting any one of the instalments, the respondent-Bank is free to proceed against the petitioner in accordance with law.

The writ petition is disposed of as above. No costs. Sd/- A. MUHAMED MUSTAQUE, JUDGE bpr