Allowed

Saleena Beevi v. the Chief Manager and Authorised Officer

Kerala HC30 Aug 2016WP(C)/26471/2015

Case brief

AI extract

What is this about?

This High Court writ petition addressed proceedings under the SARFAESI Act initiated by a bank against a borrower. The Court allowed the petitioner to pay dues in instalments instead of facing immediate enforcement action, conditional on future compliance.

What did the court decide?

Petitioner to pay overdue amount with interest in 15 monthly instalments commencing 01/10/2016; also to remit monthly instalments as agreed. Default permits bank to take action.

Saleena Beevi Vs the Chief Manager and… — 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.M.SHAFFIQUE

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TUESDAY, THE 30TH DAY OF AUGUST 2016/20168TH BHADRA, 1938

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WP(C).No. 26471 of 2015 (H)

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PETITIONER(S) :

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SALEENA BEEVI @ SALEENA,

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D/O. ABDUL MUTHALIF, MALLAYIL VEEDHU, VADAKKUMTHALA KIZHAKKUM MURI, VADAKKUMTHALA VILLAGE, KARUNAGAPPALLY.

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BY ADV. SRI.B.KRISHNA MANI

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RESPONDENT(S) :

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1. THE CHIEF MANAGER AND AUTHORISED OFFICER, BANK OF INDIA, ZONAL OFFICE, KALOOR TOWERS, KALOOR KADAVANTHRA ROAD, COCHIN-682 017.

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2. THE BRANCH MANAGER, BANK OF INDIA, PANMANA BRANCH, EDAPPALLIKOTTA P.O, KOLLAM DISTRICT- 691 583.

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BY ADV. SRI.JAWAHAR JOSE, S.C

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30-08-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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Msd.

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WP(C).No. 26471 of 2015 (H)

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APPENDIX

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PETITIONER(S)' EXHIBITS :

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EXHIBIT P1 : TRUE COPY OF THE NOTICE DATED 05-06-2015 UNDER SECTION 13(2) OF SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002.

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EXHIBIT P2 : TRUE COPY OF THE NOTICE DATED 28-05-2015 UNDER SECTION 13(2) OF SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002.

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RESPONDENT(S)' EXHIBITS :

NIL

//TRUE COPY//

P.A.TO JUDGE.

Msd.

**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.26471 of 2015

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Dated this the 30^th day of August 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 the proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner had availed a credit facility for `.10,00,000/-. 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 the 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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W.P.C.No.26471/2015

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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 fifteen equal monthly instalments starting from 01/10/2016.

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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) 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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jsr

Saleena Beevi v. the Chief Manager and Authorised Officer

Case brief

What is this about?

What did the court decide?

Saleena Beevi v. the Chief Manager and Authorised Officer

Case brief

What is this about?

What did the court decide?

What the court decided

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