Disposed

Haseena v. Bank of India

Kerala HC27 Jan 2016WP(C)/1173/2016

Case brief

AI extract

What is this about?

The petitioner, who defaulted on a bank loan, challenged recovery proceedings. The High Court disposed of the writ petition by directing the bank to allow installment repayment of the overdue amount, keeping recovery in abeyance upon compliance, with conditions and a mandate for an updated dues statement.

What did the court decide?

Recovery proceedings kept in abeyance while petitioner repays overdue loan in five equal monthly installments; default leads to resumption of recovery.

Haseena Vs Bank of India — Contract and Commercial Disputes | Kerala HC (2016)

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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 A.K.JAYASANKARAN NAMBIAR

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WEDNESDAY, THE 27TH DAY OF JANUARY 2016/7TH MAGHA, 1937

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WP(C).No. 1173 of 2016 (V)

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PETITIONER :

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HASEENA.N., W/O.SHAJI.E., RESIDING AT KOPPARAYIL HOUSE, MUKUNDAPURAM P.O., CHAVARA, PUTHUKKADUKARA, KOLLAM.

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BY ADVS.SRI.K.M.FIROZ SMT.M.SHAJNA SRI.S.KANNAN

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RESPONDENT(S):

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1. BANK OF INDIA, PANMANA BRANCH, EDAPPALLIKOTTA, KOLLAM DISTRICT. PIN-691 583,

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REPRESENTED BY AUTHORISED OFFICER & CHIEF MANAGER, KOLLAM BRANCH - 691 001.

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2. THE TAHSILDAR,

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KARUNAGAPPALLY, KOLLAM DISTRICT - 691 004.

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R1 BY SRI.K.M.ANEESH R2 BY GOVERNMENT PLEADER SRI.R.RANJITH

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27-01-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 1173 of 2016 (V)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXT.P1: A TRUE COPY OF THE REVENUE RECOVERY NOTICE DATED 18.11.2015 BEARING COLLECTORATE FILE NO. 2015/48027/2 ISSUED BY THE 2ND RESPONDENT.

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EXT.P2: A TRUE COPY OF THE POSSESSION NOTICE DATED 2.1.2016 ISSUED BY THE IST RESPONDENT.

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RESPONDENT(S)' EXHIBITS:

NIL

/TRUE COPY/

P.A.TO JUDGE

sts

A.K.JAYASANKARAN NAMBIAR, J.

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W.P.(C) No.1173 of 2016

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- - - - Dated this the 27^th day of January 2016

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JUDGMENT

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The petitioner, who had availed a loan from the respondent bank, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter referred to as the 'SARFAESI Act', to recover the loan amounts. Ext.P2 is the possession notice issued to the petitioner under the SARFAESI Act. In the writ petition, the petitioner impugns the steps initiated by the respondent bank for recovery of the loan amounts.

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I have heard the learned counsel appearing on behalf of the petitioner as also the learned Standing Counsel appearing on behalf of the respondents.

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On a consideration of the facts and circumstances of the case and the submissions made across the bar, I note that the sole prayer of the petitioner is to permit her to remit the balance amounts outstanding to the bank in easy installments. Taking into

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W.P.(c).No.1173 of 2016

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: 2 :

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account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:-

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(i) The total overdue amount, in respect of the loan, is stated to be Rs.1,20,000/- together with accrued interest. Accordingly, if the petitioner remits the aforesaid amount of Rs.1,20,000/- together with accrued interest in five equal and successive monthly installments commencing from 10.02.2016, and continues to keep up the regular installment payments as per the original loan schedule, then the recovery steps initiated against her by the respondent bank shall be kept in abeyance.

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(ii) It is made clear that if the petitioner commits a default in respect of any of the installments, she will lose the benefit of this judgment and the respondent bank will be free to continue the recovery proceedings against her from the stage at which they presently stand.

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(iii)The respondent bank shall furnish the petitioner with an up-to-date statement of the dues position, within 10 days from today, so as to enable the petitioner to effect repayment as per the directions in this judgment.

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Sd/-

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A.K.JAYASANKARAN NAMBIAR JUDGE

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sm/

Haseena v. Bank of India

Case brief

What is this about?

What did the court decide?

Haseena v. Bank of India

Case brief

What is this about?

What did the court decide?

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