High Court of KeralaWP(C)/25641/2015disposed of

C.S.John v. Kerala State Co-Op. Bank Ltd., Alappuzha

2015-08-31Honourable Dr. Justice A.K.Jayasankaran Nambiar5 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR MONDAY, THE 31ST DAY OF AUGUST 2015/9TH BHADRA, 1937 WP(C).NO. 25641 OF 2015 (E) ---------------------------- PETITIONER(S):

--------------- C.S.JOHN AGED 40 YEARS S/O.SOOSAYYA FERNANDO, JAYA COTTAGE, MULLAKKAL WARD ALAPPUZHA BY ADVS.SMT.GISA SUSAN THOMAS SMT.G.ASHWINI SMT.LEELAMANI RESPONDENT(S):

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1. KERALA STATE CO-OPERATIVE BANK LTD., ALAPPUZHA BRANCH, REPRESENTED BY ITS MANAGER-683001

2. THE AUTHORISED OFFICER KERALA STATE CO OPERATIVE BANK LTD., REGIONAL OFFICE ANANDHI BUILDING, PULLEPADY JUNCTION, CHITTOOR ROAD ERNAKULAM, KOCHI 682035 R BY SRI.GEORGE POONTHOTTAM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31-08-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).NO. 25641 OF 2015 (E) ---------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------- P1:THE TRUE COPY PASSBOOK AND TRUE EXTRACT OF THE ACCOUNT DETAILS P2:THE COPY OF RECEIPT DATED 05.03.2015 P3:THE TRUE COPY OF THE LETTER DATED 20.07.2015 P4:THE COPY OF AUCTION SALE NOTICE DATED 04.08.2015 ISSUED BY THE 2ND RESPONDENT P5:THE TRUE COPY OF THE NOTICE PUBLISHED IN THE HINDU DAILY DATED 20.07.2015 P6:THE COPY OF THE ORDER IN THIS HON'BLE COURT IN WPC.NO.5160/2015 P7:THE COPY OF RECEIPT DATED 29.08.2015 RESPONDENT(S)' EXHIBITS:NIL ------------------------ //TRUE COPY// P.A. TO JUDGE

A.K.JAYASANKARAN NAMBIAR, J.

........................................................ ......................................................... Dated this the 31st day of August, 2015

J U D G M E N T

The petitioner, who had availed of a loan from the respondent bank, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter referred to as the 'SARFAESI Act', to recover the loan amounts. Ext.P4 is the notice issued by the 2nd respondent bank. 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 instalments. Taking into account the

plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:- (i) The total amount outstanding from the petitioner to the respondent bank, is stated to be Rs.1,56,038/- together with accrued interest. Accordingly, if the petitioner pays the aforesaid amount of Rs.1,56,038/-, together with accrued interest, in 6 equal and successive monthly instalments commencing from 15.09.2015, then the further proceedings for recovery of loan amounts from the petitioner shall be kept in abeyance.

(ii) It is made clear that if the petitioner commits a default in respect of any of the instalments, 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.

A.K.JAYASANKARAN NAMBIAR JUDGE mns/