Sajana.H v. The Thiruvananthapuram District Co-Operative Bank Ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR FRIDAY, THE 11TH DAY OF SEPTEMBER 2015/20TH BHADRA, 1937 WP(C).No. 26252 of 2015 (F) --------------------------------------------- PETITIONER(S):

-------------------------- SAJANA.H AGED 35 YEARS D/O.MEHARUNNISSA, PARAPURAM HOUSE, PALACHIRA P.O. VARKALA, THIRUVANANTHAPURAM DISTRICT-695143.

BY ADV. SRI.JOHN JOSEPH(ROY) RESPONDENT(S):

---------------------------- THE THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK LTD. REPRESENTED BY THE AUITHORISED OFFICER, HEAD OFFICE EAST FORT, THIRUVANANTHAPURAM-695023.

R BY SRI.T.R.HARIKUMAR, SC, THIRUVANANTHAPURAM DIST.CO. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11-09-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 26252 of 2015 (F) --------------------------------------------- APPENDIX PETITIONER'S EXHIBITS:- ----------------------------------------- EXT.P1 TRUE COPY OF THE POSSESSION NOTICE DATED 20.02.2015 OF RESPONDENT SHOWING THE OUTSTANDING AMOUNT.

EXT.P2 TRUE COPY OF THE NOTICE OF ADALATH ISSUED TO THE PETITIONER IN FEBRUARY, 2015.

RESPONDENT(S)' EXHIBITS --------------------------------------- NIL // True copy // PA to Judge das

A.K.JAYASANKARAN NAMBIAR, J.

=========================================== W.P.(C). No. 26252 of 2015 ===================================================== Dated this the 11th day of September, 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.P1 is the notice issued to the petitioner under Section 13(4) of the SARFAESI Act. 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 account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:-

-2W.P.(C). No. 26252 of 2015 (i) The total overdue amount, in respect of the loan, is stated to be Rs.3,56,257/- together with accrued interest. Accordingly, if the petitioner remits the aforesaid amount of Rs.3,56,257/- together with accrued interest in twelve equal and successive monthly installments commencing from 15.10.2015, 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 das