Disposed

Akbar Basha v. State Bank of Mysore

Kerala HC25 Sept 2012OP (DRT)/2610/2012

Case brief

AI extract

What is this about?

This order deals with an original petition filed by a defaulter to grant an instalment facility to discharge liability. The bank had initiated SARFAESI proceedings which were stayed by the Tribunal conditionally. The petitioner complied partially but defaulted on further requirements. The court allowed the petitioner to pay the balance dues in eight equal monthly instalments, subject to vacatur of

What did the court decide?

Allowed petitioner to pay balance liability in eight equal monthly instalments; deferred coercive action pending compliance.

Akbar Basha Vs State Bank of Mysore — Execution and Attachment | Kerala HC (2012)

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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 ANTONY DOMINIC

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TUESDAY, THE 25TH DAY OF SEPTEMBER 2012/3RD ASWINA 1934

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OP (DRT).No. 2610 of 2012 (O)

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----------------------------SA.411/2011 of DEBT RECOVERY TRIBUNAL, ERNAKULAM

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PETITIONER(S):

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AKBAR BASHA S/O.M.S.M ISMAIL , KODUVAYOOR HOUSE PALAKKAD DISTRICT - 678 502. BY ADV. SMT.E.V.MOLY

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RESPONDENT(S): --------------

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STATE BANK OF MYSORE SULTHAN PET BRANCH, PALAKKAD REPRESENTED BY ITS AUTHORISED OFFICER PIN - 678 001.

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BY ADV. SRI.LAL GEORGE

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THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 25-09-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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SU/-

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OP (DRT).No. 2610 of 2012 (O)

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APPENDIX

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PETITIONER'S EXHIBITS:

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P1: COPY OF THE POSSESSION NOTICE ISSUED UNDER SEC 13(a) OF THE SARFAESI ACT, 2002.

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P2: COPY OF THE INTERIM ORDER DATED 09-08-2011 IN I.A. 1688/11 IN SA 411/11.

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P3: COPY OF THE RECEIPT DATED 12-09-2011 FOR RS.3 LAKH.

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P4: COPY OF THE RECEIPTS DATED 07-12-2011 & 20-12-11 FOR PAYMENT OF RS.3 LAKH.

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P5: COPY OF THE RECEIPTS DATED 31-03-2012 FOR PAYMENT OF RS.1.4O LAKH.

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RESPONDENTS' EXHIBITS: NIL.

/TRUE COPY/

P.A. TO JUDGE

SU/-

ANTONY DOMINIC,J

O.P.(DRT)No.2610 of 2012

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Dated this the 25^th day of September, 2012

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JUDGMENT

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Petitioner is a defaulter to the respondent bank. For realizing its dues, bank initiated SARFAESI proceedings. Those proceedings were challenged by the petitioner in S.A.No.411/2011 filed before the Debt Recovery Tribunal, Ernakulam. Along with the S.A, petitioner also filed I.A.No.1688/2011 praying for stay of recovery. In that I.A, the Tribunal passed Ext.P2 conditional order requiring remittance of Rs.3 lakhs each on 12.09.2011 and 12.10.2011. Although belatedly, petitioner paid Rs.6 lakhs. Subsequently, the Tribunal passed yet another order requiring remittance of a further sum of Rs.5 lakhs. That order was not complied with. In such circumstances, stay was vacated. It is there upon that this original petition has been filed apprehending coercive action by the bank and the prayer made before this Court is to grant an instalment facility to discharge the entire liability due.

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O.P.(DRT).No.2610/2012

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: 2 :

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Learned standing counsel appearing for the bank points out the defaults committed by the petitioner and also that as on 02.03.2012 total amount due from the petitioner is Rs.17,23,767/-, apart from interest and other charges. Therefore, bank opposes the prayer.

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However, fact remains that the petitioner has already paid substantial portion of the liability and is not disputing the liability or the quantum. In such circumstances, I am inclined to give the petitioner a last opportunity to save the mortgaged assets from a coercive action.

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With this in mind, I direct that the petitioner will be permitted to pay the balance liability due to the bank in eight equal monthly instalments. First instalment shall be paid on or before 10.10.2012 and the subsequent instalments shall be paid on or before the 10^th of every succeeding month. Subject to payment as above, coercive action will be deferred and in case of default, bank will be free to continue the recovery action already initiated.

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The O.P.(DRT) is disposed of as above.

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ANTONY DOMINIC, JUDGE

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Akbar Basha v. State Bank of Mysore

Case brief

What is this about?

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Akbar Basha v. State Bank of Mysore

Case brief

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