Allowed

Muhammed Shafi @ a.M.Shafi v. State Bank of Travancore

Kerala HC19 Dec 2011WP(C)/33944/2011

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging recovery proceedings under the SARFAESI Act. Acknowledging the petitioner's liability, the court granted relief to pay the amount in 10 monthly instalments, keeping coercive action in abeyance during compliance.

What did the court decide?

Petitioner allowed to pay the demanded amount in 10 monthly installments starting 1.2.2012; coercive proceedings kept in abeyance if directions are complied with.

Muhammed Shafi @ a.M.Shafi Vs State Bank of Travancore — Banking and Recovery | Kerala HC (2011)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT :

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THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 19TH DECEMBER 2011 / 28TH AGRAHAYANA 1933 WP(C).No. 33944 of 2011(P)

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PETITIONER(S):

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------------------------

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MUHAMMED SHAFI ALIAS A.M. SHAFI, S/O. ABDUL KARIM, RESIDING AT RUKKIYA MANZIL, VELAVOOR, PIRAPPACODE P.O., THIRUVANANTHAPURAM DISTRICT.

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BY ADVS. SRI. A.B. MOHANAKUMAR SMT. NIMA JACOB

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RESPONDENT(S):

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-------------------------

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STATE BANK OF TRAVANCORE, NEDUMANGAD BRANCH, PB.NO.3, NEDUMANGAD, THIRUVANANTHAPURAM, PIN-695 541 REP.BY THE AUTHORISED OFFICER (CHIEF MANAGER)

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BY GOVERNMENT PLEADER SRI.S. JAMAL

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

VPV

WPCNO.33944/2011

APPENDIX

PETITIONER'S EXHIBITS:

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EXT.P1: COPY OF THE NOTICE DATED 05.09.2011 ISSUED TO THE PETITIONER BY THE RESPONDENT UNDER SECTION 13(2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002.

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RESPONDENT'S EXHIBITS: NIL

/TRUE COPY/

P.A. TO JUDGE

VPV

S. Siri Jagan, J.

=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=

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W.P(C) No. 33944 of 2011

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=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 19^th day of December, 2011.

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J U D G M E N T

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The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondent for recovery of defaulted loan amounts. The petitioner does not dispute the liability or quantum. The petitioner only seeks facility to pay the amounts in instalments. This is opposed by the counsel for the bank. However, taking a lenient view, I dispose of this writ petition with the following directions:

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The petitioner shall pay the amounts demanded in 10 monthly instalments starting from 1.2.2012. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the amounts on the due dates without default, further coercive recovery proceedings shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions or in paying any one instalment, it would be open to the respondent to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard.

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Sd/- S. Siri Jagan, Judge.

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Tds/

Muhammed Shafi @ a.M.Shafi v. State Bank of Travancore

Case brief

What is this about?

What did the court decide?

Muhammed Shafi @ a.M.Shafi v. State Bank of Travancore

Case brief

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What did the court decide?

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