A writ petition against recovery proceedings under the SARFAESI Act was disposed of. The Court, noting the petitioner's willingness to repay, ordered payment via 12 monthly installments and warned of further action on default.
Ordered the petitioner to pay the entire amount with accrued interest in twelve equal monthly instalments starting from 22.08.2016.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE
MONDAY, THE 25TH DAY OF JULY 2016/3RD SRAVANA, 1938
WP(C).No. 24276 of 2016 (H)
NAME AND ADDRESS OF THE PETITIONER(S) :
SAJU PADMANABHAN, AGED 35 YEARS, S/O.PADMANABHAN, PROPRIETOR M/S.S S ASSOCIATES, NEAR TRAINING SCHOOL, THALASSERY ROAD, KANNUR-670 002.
BY ADVS. SRI.C.A.MAJEED
SRI.K.H.ASIF SMT.MOLTY MAJEED SRI.K.J.SHARATH KUMAR
NAME AND ADDRESS OF THE RESPONDENT(S) :
UNION BANK OF INDIA, FORT ROAD, KANNUR-670 001, REPRESENTED BY THE CHIEF MANAGER.
BY ADV. SRI.A.S.P.KURUP, S.C
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25-07-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Msd.
WP(C).No. 24276 of 2016 (H)
APPENDIX
PETITIONER(S)' EXHIBITS :
EXHIBIT P1: A PHOTOCOPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK UNDER THE SECTION 13(2)OF THE SARFAESI ACT ON 01/10/2015.
EXHIBIT P2: A PHOTOCOPY OF THE SALE NOTICE DATED 21.06.2016 ISSUED BY THE RESPONDENT BANK.
RESPONDENT(S)' EXHIBITS :
NIL
//TRUE COPY//
P.A.TO JUDGE.
Msd.
**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.24276 of 2016
Dated this the 25th day of July 2016
J U D G M E N T
Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.
W.P.C.No.24276/2016
2
Accordingly, this writ petition is disposed of as under:
(i) The petitioner shall pay the entire amount with accrued interest in twelve equal monthly instalments starting from 22/08/2016.
(ii) If there is default in payment of any of the aforesaid amounts, it shall be open for the respondent Bank to take such steps in accordance with law.
(sd/-)
(A.M.SHAFFIQUE, JUDGE)
jsr
1 issue framed by the court
Whether the petitioner willing to repay can be granted indulgence in enforcement proceedings under the SARFAESI Act.
1 provisions across 1 enactments
SAJU PADMANABHAN
UNION BANK OF INDIA
A.M.SHAFFIQUE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
