Disposed

P.Haridas v. Authorised Officer, Bank of India

Kerala HC22 Feb 2013WP(C)/1858/2013

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed by loan defaulter petitioners facing SARFAESI proceedings. Finding no dispute over liability or quantum, the Court directed the Bank to allow repayment via six equal monthly instalments and deferred recovery actions, resuming them upon default.

What did the court decide?

Directing the Bank to allow payment of dues in six equal monthly instalments; recovery proceedings to be deferred pending such payments.

P.Haridas Vs Authorised Officer, Bank of India — Contract and Commercial Disputes | Kerala HC (2013)

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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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FRIDAY, THE 22ND DAY OF FEBRUARY 2013/3RD PHALGUNA 1934

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WP(C).No. 1858 of 2013 (F)

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PETITIONER(S):

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P.HARIDAS, S/O.PURUSHOTHAMAN, T.C NO 17/1963-1 PALACE VIEW - ROAD POOJAPPURA P.O THIRUVANANTHAPURAM

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UMA RANI

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W/O.P. HARIDAS T.C NO 17/1963-1 PALACE VIEW ROAD, POOJAPPURA P.O THIRUVANANTHAPURAM

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BY ADV. SRI.T.K.ANANDA KRISHNAN

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RESPONDENT(S):

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AUTHORISED OFFICER, BANK OF INDIA PTP NAGAR BRANCH TC 6/1634 RAGAM VETTAMUKKU THIRUVANANTHAPURAM 695 001

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THE BRANCH MANAGER BANK OF INDIA PTP NAGAR BRANCH TC 6/1634 RAGAM VETTAMUKKU THIRUVANANTHAPURAM 695 001

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BY ADV. SRI.KODOTH SREEDHARAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22-02-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 1858 of 2013

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APPENDIX

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PETITIONER(S) EXHIBITS

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EXT.P1TRUE COPY OF THE NOTICE DATED 27-08-2012

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EXT.P2TRUE COPY OF THE NOTICE DATED 20-09-2012

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EXT.P3TRUE COPY OF THE NOTIOCE SECTION 13(2) OF THE SARFAESI ACT DATED 0710-2012

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EXT.P4TRUE COPY OF THE NOTICE DATED 26-12-2012

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EXT.P5TRUE COPY OF THE REPLY LETTER DATED 02-01-2013

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/true copy/

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sd/- P.A. To Judge

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ANTONY DOMINIC, J

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- - - - W.P.(C).1858/2013

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- - - - Dated this the 22^nd day of February, 2013

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JUDGMENT

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Heard the learned counsel for the petitioners and the learned Standing Counsel appearing for the respondents.

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Petitioners are defaulters of a mortgaged loan availed of from the 1^st respondent Bank. On account of the defaults committed, the account was classified as NPA and SARFAESI proceedings were initiated against the secured assets. It was at that stage, this writ petition was filed and the prayer made is for an instalment facility to settle the liability.

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Although the learned counsel for the Bank justified the action, since the petitioners are neither disputing the liability nor the quantum, I do not think it necessary to go into the validity of the action taken by the Bank.

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In such circumstances, I dispose of this writ petition directing that the petitioners will be allowed to pay the amounts

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W.P.(C).1858/13

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that are due from them in six equal monthly instalments. First instalment shall be paid on or before 10.3.2013 and the subsequent instalments shall be paid on or before 10^th of every succeeding month. Subject to payment as above recovery proceedings initiated will stand deferred and in case of default, Bank will be free to continue the recovery action.

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Sd/- ANTONY DOMINIC, JUDGE

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mrcs

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/true copy/

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sd/- P.A. To Judge

P.Haridas v. Authorised Officer, Bank of India

Case brief

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P.Haridas v. Authorised Officer, Bank of India

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