Partly allowed

Sukumaran.T. v. Syndicate Bank

Kerala HC6 Feb 2013WP(C)/3316/2013

Case brief

AI extract

What is this about?

In a writ petition during SARFAESI proceedings against a defaulted housing loan, the High Court directed the petitioner to clear defaulted dues in four equal monthly installments with immediate EMI payment. Upon compliance, the loan would be regularized and coercive action deferred.

What did the court decide?

Petitioner directed to clear defaulted dues in 4 monthly installments starting 20.02.2013; loan to be regularized upon compliance.

Sukumaran.T. Vs Syndicate Bank — Banking and Recovery | 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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WEDNESDAY, THE 6TH DAY OF FEBRUARY 2013/17TH MAGHA 1934

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WP(C).No. 3316 of 2013 (L)

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PETITIONER(S):

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SUKUMARAN, AGED 57 YEARS, KOLLOOR KULAVARAMBIL VEEDU, TC 13/979, KANNANMOOLA, MEDICAL COLLEGE P.O., TRIVANDRUM.

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BY ADVS.SRI.R.SUNIL KUMAR SMT.A.SALINI LAL

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RESPONDENT(S):

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1. THE AUTHORIZED OFFICER, SYNDICATE BANK, REGIONAL OFFICE, TRIVANDRUM-695 010.

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2. THE BRANCH MANAGER, SYNDICATE BANK, PALAYALAM, TRIVANDRUM.PIN-695 010

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R1 & R2 BY ADV.SRI.R.S.KALKURA

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06-02-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C)NO.3316/2013

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APPENDIX

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PETITIONER'S EXHIBITS:

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P1 COPY OF THE O.P.TICKET BY S.U.T. HOSPITAL

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P2 COPY OF THE 13(2) NOTICE

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P3 COPY OF THE STATEMENT OF ACCOUNTS

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P4 COPY OF THE NOTICE ISSUED BY COMMISSIONER.

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RESPONDENT'S EXHIBITS: NIL

/TRUE COPY/

P.S.TO.JUDGE

sts

ANTONY DOMINIC, J.

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W.P(C).No.3316 of 2013

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------------------------------------------Dated this the 6^th day of February, 2013

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JUDGMENT

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1.Heard learned counsel for the petitioner and learned standing counsel for the respondent bank.

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2.The petitioner availed of a housing loan of `17,00,000/- from the respondent bank in 2008. Default was committed and therefore, SARFAESI proceedings were initiated. Finally, the Advocate Commissioner appointed by the Chief Judicial Magistrate Court has issued Ext.P4 notice. It is at that stage, this writ petition is filed and the request made is to allow the petitioner to get the loan regularised.

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3.According to the learned counsel for the bank, towards defaulted instalments itself, `5,32,617/- is due from the petitioner. Regularisation of the loan can be considered only if the petitioner clears the defaulted dues. Therefore, I direct the petitioner to clear off the defaulted dues in 4 equal

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WPC.3316/13

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monthly instalments, the first of which shall be paid on or before 20.02.2013 and the subsequent instalments, on or before the 20^th of every succeeding months. Along with the instalments, the current EMI shall also be paid. If payments are made as above, the loan will be regularized and the petitioner will be allowed to pay the balance amount due as per the loan agreement.

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4.Subject to payments as above, coercive action will stand deferred and in case of default, the bank will be free to continue with the recovery action.

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Writ petition is disposed of as above.

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Sd/ANTONY DOMINIC Judge kkb.7/2.

Sukumaran.T. v. Syndicate Bank

Case brief

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Sukumaran.T. v. Syndicate Bank

Case brief

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