In a writ petition challenging proceedings under the SARFAESI Act, the Court accepted the Bank's concession regarding the reduced debt amount and directed the petitioner be permitted to pay the liability in four equal monthly instalments.
Petitioner permitted to pay the amount due in four equal monthly instalments starting 30th April 2008.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE ANTONY DOMINIC
THURSDAY, THE 3RD APRIL 2008 / 14TH CHAITHRA 1930
WP(C).No. 6690 of 2008(U)
PETITIONER:
K.V.SHINEKUMAR, S/O.LATE VELAYUDHAN, SOLE PROPRIETOR, M/S.VELAYUDHAN TRADERS, KANNATHUSSERIL HOUSE, PERUMPADANNA, NORTH PARAVOOR.
BY ADV. SRI.S.SHYAM SRI.BOBBYMATHEW KOOTHATTUKULAM
RESPONDENTS:
BY ADV. SRI.K.PRABHAKARAN, SC FOR SOUTH INDIAN BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
ANTONY DOMINIC, J.
W.P.C.No.6690 of 2008
Dated this the 3rd day of April, 2008
JUDGMENT
In this writ petition, challenge is against the proceedings initiated by the first respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. Going by the notice, the amount due is shown as Rs.12,38,513/-. However, in the statement filed before this court it is conceded by the bank that the amount due to the bank is Rs.2,36,027/- as on 30.4.2008.
In case any default is committed, the bank will be free to continue its proceedings.
ANTONY DOMINIC, JUDGE
csl
1 issue framed by the court
Whether the petitioner is entitled to an instalment facility to discharge the amount due to the banking company.
K.V.SHINEKUMAR
AUTHORISED OFFICER (CHIEF MANAGER, ERNAKULAM REGION), SOUTH INDIAN BANK
SOUTH INDIAN BANK, NORTH PARAVOOR BRANCH
ANTONY DOMINIC
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
