Petitioner, facing SARFAESI proceedings for a defaulted consumption loan, sought regularization. Court permitted clearing of overdue amounts in installments while directing deferral of coercive proceedings conditional on compliance.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE
WEDNESDAY, THE 24TH DAY OF JUNE 2015/3RD ASHADHA, 1937
WP(C).No. 17181 of 2015 (W)
PETITIONER :
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KANARAN A.K., AGED 68 YEARS, S/O.RARICHAN, ACHIKKULANGARA HOUSE, MEPPAYYUR.P.O., KOYILANDY, KOZHIKODE.
BY ADVS.SRI.M.G.SREEJITH SRI.ASHOK SURESH
RESPONDENTS :
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THE KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., F 1635 HEAD OFFICE, P B NO.503, CHALAPPURAM.P.O. KOZHIKODE-673002 REPRESENTED BY ITS SENIOR BRANCH MANAGER/AUTHORISED OFFICER.
R1 BY ADV. SRI.R.SUDHISH, SC,
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
bp
WP(C).No. 17181 of 2015 (W)
APPENDIX
PETITIONER(S)' EXHIBITS
RESPONDENT(S)' EXHIBITS : NIL.
//TRUE COPY//
P.A. TO JUDGE
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A.MUHAMED MUSTAQUE, J.
W.P.(C).No.17181 of 2015
Dated this the 24th day of June, 2015
J U D G M E N T
The petitioner availed a consumption loan from the respondent Bank in the year 2012. On account of default in repaying the installments, the Bank initiated 'SARFAESI' proceedings against the petitioner. The petitioner's only prayer before this Court is that, he may be permitted to clear the overdue amount and regularise the account.
Considering the facts and circumstance of the case, this writ petition is disposed of with the following directions :
W.P.(C).No.17181 of 2015
2
liberty to proceed against the petitioner from the stage where it stands now.
Sd/- A.MUHAMED MUSTAQUE, JUDGE.
AV
3 issues framed by the court
Whether to grant permission to the bankrupt petitioner to regularise his defaulted loan account by clearing the overdue amount in installments.
Whether coercive proceedings against the petitioner should be deferred on account of the petitioner’s medical condition and willingness to pay.
What directions should be issued to regularise the account and maintain compliance for discharge of coercive measures.
Kanaran A.K.
Kozhikode District Cooperative Bank Ltd.
A.Muhamad Mustaque
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
