Allowed

Ebin Thomas v. Authorized Officer, Meenachil East Urban Co-Operative Bank

Kerala HC28 Jul 2016WP(C)/2590/2016

Case brief

AI extract

What is this about?

In a writ petition arising from recovery proceedings under the SARFAESI Act, the Court allowed the petitioner to repay the overdue home loan amount in monthly instalments and continue regular payments, granting indulgence due to the petitioner's expressed willingness to settle the dues.

What did the court decide?

Petitioner directed to pay overdue amount with interest in ten equal monthly instalments starting from 26.08.2016 and remit monthly instalments as per agreed terms. Default permits bank to take legal

Ebin Thomas Vs Authorized Officer, Meenachil East Urban… — Specific Performance | 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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THURSDAY, THE 28TH DAY OF JULY 2016/6TH SRAVANA, 1938

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WP(C).No. 2590 of 2016 (W)

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PETITIONER(S) :

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EBIN THOMAS, S/O.P.J.THOMAS, PATHALIL, CHENAPPADY P.O., KOTTAYAM DISTRICT.

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BY ADV. SRI.V.K.PEERMOHAMED KHAN

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RESPONDENT(S) :

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THE AUTHORIZED OFFICER, MEENACHIL EAST URBAN CO-OPERATIVE BANK LTD., POONJAR, POONJAR THEKKEKARA P.O., KOTTAYAM DISTRICT.

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BY ADV. SRI.GEORGEKUTTY MATHEW

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28-07-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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Msd.

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WP(C).No. 2590 of 2016 (W)

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APPENDIX

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PETITIONER(S)' EXHIBITS :

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EXT.P1: TRUE COPY OF THE APPLICATION FILED BY THE RESPONDENT UNDER SECTION 14 OF THE SARFESI ACT, 2002 DATED 18.11.2015.

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EXT.P2: COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 05.01.2015.

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RESPONDENT(S)' EXHIBITS :

NIL

//TRUE COPY//

P.A.TO JUDGE.

Msd.

A.M.SHAFFIQUE, J.

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W.P.(C).No.2590 of 2016

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----------------------------------- Dated this the 28^th day of July, 2016

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J U D G M E N T

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Petitioner has approached this Court being faced with proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner had taken a home loan for `45 lakhs. The petitioner could not repay the monthly instalments in time on account of certain financial difficulties. 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 his willingness to repay the amount in instalments, 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 accrued interest in ten equal monthly instalments starting from 26.08.2016.

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

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W.P.(C).No.2590 of 2016

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(iii) 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.

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Sd/-

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A.M.SHAFFIQUE, JUDGE.

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Ebin Thomas v. Authorized Officer, Meenachil East Urban Co-Operative Bank

Case brief

What is this about?

What did the court decide?

Ebin Thomas v. Authorized Officer, Meenachil East Urban Co-Operative Bank

Case brief

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What did the court decide?

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