Allowed

M. Balan v. Authorized Officer, State Bank of Bikaner and Jaipur

Kerala HC27 Jul 2016WP(C)/23190/2016

Case brief

AI extract

What is this about?

This court disposed of a writ petition where the petitioner, facing SARFAESI proceedings for a housing loan default, expressed willingness to repay dues in instalments. The court granted indulgence by directing payment in instalments and deferring possession by the Advocate Commissioner if terms are met.

What did the court decide?

Petitioner to pay overdue amount with interest in six monthly instalments starting 25/08/2016 and remit monthly instalments; Advocate Commissioner to defer possession if payments are made.

M. Balan Vs Authorized Officer, State Bank of Bikaner… — Banking and Recovery | 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.M.SHAFFIQUE

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WEDNESDAY, THE 27TH DAY OF JULY 2016/5TH SRAVANA, 1938

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WP(C).No. 23190 of 2016 (W)

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PETITIONER :

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M. BALAN, S/O. GOVINDAN, AGED 70 YEARS, MADATHIL HOUSE, KACHERY AMSOM, KACHERI DESOM, WEST HILL P.O., BILATHIKULAM, KOZHIKODE DISTRICT. PIN-673 005.

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BY ADV. SRI.SHIJU VARGHESE

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RESPONDENT :

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AUTHORIZED OFFICER, STATE BANK OF BIKANER AND JAIPUR, ASWATHY 36/382 A, P.B. NO. 1064, BRANCH CODE 10449, ERNAKULAM DISTRICT, PIN-682 031.

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BY ADV. SRI.K.P.SUJESH KUMAR

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27-07-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 23190 of 2016 (W)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXT.P1 TRUE COPY OF E-MAIL DATED 22.1.2015 SENT BY THE RESPONDENT.

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EXT. P2 TRUE COPY OF THE TERMINATION LETTER DATED 1.8.2015.

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EXT. P3 TRUE COPY OF THE LOAN-STATEMENT ISSUED BY THE RESPONDENT.

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EXT. P4 TRUE COPY OF THE NOTICE DATED 13.5.2016 ISSUED BY THE RESPONDENT.

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EXT. P5 TRUE COPY OF THE NOTICE DATED 18.06.2016 ISSUED BY THE ADV. COMMISSIONER.

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RESPONDENT(S)' EXHIBITS:

NIL

/TRUE COPY/

P.A.TO JUDGE

sts

A.M. SHAFFIQUE, J.

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------------------------------------- W.P.(C) No. 23190 of 2016

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Dated this the 27^th day of July, 2016

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JUDGMENT

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Petitioner has approached this Court being faced with

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the proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner had taken a housing loan for Rs.75,00,000/-. The petitioner could not repay the monthly instalments in time on account of certain financial difficulties.

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In the meantime, proceedings had been taken by the respondent Bank under the SARFAESI Act.

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Learned counsel for the petitioner submits that the petitioner is ready and willing to pay the outstanding dues in instalments and will also pay the regular instalments, if some time is granted.

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Having regard to the fact that the petitioner had expressed the willingness to repay the amount in instalments,

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W.P.(C) No. 23190 of 2016

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-2-

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I am of the view that some indulgence can be shown to the petitioner.

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Accordingly, this writ petition is disposed of as under:

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(i) The petitioner shall pay the overdue amount with

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accrued interest in six equal monthly instalments starting from 25/08/2016 .

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(ii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments as per the agreed terms.

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(iii) The Advocate Commissioner shall defer taking possession of the premises, if payments are made as stated

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above, failing which, it shall be open for the Advocate Commissioner to take possession of the premises and the respondent Bank shall take coercive proceedings in accordance with law.

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Sd/-

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A.M. SHAFFIQUE JUDGE

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Scl/27.07.2016

M. Balan v. Authorized Officer, State Bank of Bikaner and Jaipur

Case brief

What is this about?

What did the court decide?

M. Balan v. Authorized Officer, State Bank of Bikaner and Jaipur

Case brief

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