Elsamma Joseph v. The Assistant General Manager
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR FRIDAY, THE 4TH DAY OF DECEMBER 2015/13TH AGRAHAYANA, 1937 WP(C).No. 26009 of 2015 (A) ---------------------------- PETITIONER :
------------------ ELSAMMA JOSEPH, AGED 59 YEARS, W/O.CHACKO K.J., KEERANCHIRA HOUSE, MERIKUNNU P.O., CALICUT-673 012.
BY ADVS.SRI.M.M.HUSAIN SRI.K.A.MANZOOR ALI RESPONDENTS :
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1. THE ASSISTANT GENERAL MANAGER, REVENUE RECOVERY DEPARTMENT THE CALICUT CO-OPERATIVE URBAN BANK, KALLAI ROAD, KOZHIKODE-02.
2. THE BRANCH MANAGER THE CALICUT CO-OPERATIVE URBAN BANK, KALLAI ROAD MALAPARAMBU BRANCH, KOZHIKODE-02.
BY ADV. SRI.DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 04-12-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 26009 of 2015 (A) ---------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXT.P1:
TRUE COPY OF THE REPRESENTATION DATED 22/12/2014 SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT.
EXT.P2:
TRUE COPY OF THE SEC.13(2) NOTICE DATED 22/5/2015 ISSUED BY THE 1ST RESPONDENT.
EXT.P3:
TRUE COPY OF THE POSSESSION NOTICE DATED 14/8/2015. EXT.P4:
TRUE COPY OF THE LETTER DATED 2/7/2014 SUBMITTED BY THE PETITIONER RESPONDENT(S)' EXHIBITS :
NIL.
//TRUE COPY// P.A.TO JUDGE bp
A.K.JAYASANKARAN NAMBIAR, J.
- - - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C) No.26009 of 2015 - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 4th day of December 2015
JUDGMENT
The petitioner, who had availed 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.P3 is the possession notice issued to the petitioner by the 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 her to remit the balance amounts outstanding to the bank in easy installments. Taking into
W.P.(c).No.26009 of 2015 : 2 :
account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:- (i) The total overdue amount, in respect of the loan, is stated to be Rs.1,55,000/- together with accrued interest. Accordingly, if the petitioner remits the aforesaid amount of Rs.1,55,000/- together with accrued interest in five equal and successive monthly installments, commencing from 21.12.2015, and continues to keep up the regular installment payments as per the original loan schedule, then the recovery steps initiated against her by the respondent bank shall be kept in abeyance.
(ii) It is made clear that if the petitioner commits a default in respect of any of the installments, she will lose the benefit of this judgment and the respondent bank will be free to continue the recovery proceedings against her from the stage at which they presently stand. Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE sm/