Petitioner challenged enforcement proceedings by Bank of Baroda under SARFAESI Act. Court, noting willingness to repay, granted indulgence allowing payment in instalments with default consequences.
Petitioner directed to pay overdue amount with accrued interest in ten equal monthly instalments starting 01/10/2016 along with regular instalments.
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
THURSDAY, THE 8TH DAY OF SEPTEMBER 2016/17TH BHADRA, 1938
WP(C).No. 29108 of 2016 (K)
PETITIONER(S):
RAVI K.M. KOLANGARAPARAMBIL HOUSE, AVANUR PO, THRISSUR DISTRICT-680541.
BY ADV. SRI.A.N.SATHISH KUMAR
RESPONDENT(S):
1. THE AUTHORISED OFFICER & CHIEF MANAGER, BANK OF BARODA, ST.MARY'S CHURCH COMPOUND, PERAMANGALAM-680545, THRISSUR DISTRICT.
2. THE MANAGER, PERAMANGALAM BRANCH, BANK OF BARODA, THRISSUR-680545.
BY ADV.SRI.K.M.ANEESH
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08-09-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
PJ
WP(C).No. 29108 of 2016 (K)
APPENDIX
PETITIONER(S)' EXHIBITS
EXHIBIT:P1 TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE LOAN ACCOUNT OF THE PETITIONER
EXHIBIT:P2 TRUE COPY OF THE DEMAND NOTICE DATED 24/5/2016 ISSUED BY THE 1ST RESPONDENT
EXHIBIT:P3 TRUE COPY OF THE PAY IN SLIP EVIDENCING REMITTANCE OF RS.15,000/- 0N 7/7/2016
RESPONDENT(S)' EXHIBITS
NIL.
/ TRUE COPY /
P.S. TO JUDGE
PJ
A.M. SHAFFIQUE, J.
------------------------------------- W.P.(C) No.29108 of 2016
Dated this the 8th day of September, 2016
JUDGMENT
Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.
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.
petitioner is ready and willing to pay the outstanding dues in instalments and will also pay the regular instalments, if some time is granted.
W.P.(C) No.29108 of 2016
-2-
I am of the view that some indulgence can be shown to the petitioner.
Accordingly, this writ petition is disposed of as under:
(i) The petitioner shall pay the overdue amount with
accrued interest in ten equal monthly instalments starting from 01/10/2016.
(ii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments as per the agreed terms.
(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.
Sd/A.M. SHAFFIQUE JUDGE
Scl/08.09.2016
1 issue framed by the court
Whether a writ petition filed against proceedings under the SARFAESI Act by a loan defaulter ready to repay dues should be disposed of.
1 provisions across 1 enactments
RAVI K.M.
THE AUTHORISED OFFICER & CHIEF MANAGER, BANK OF BARODA, ST.MARY'S CHURCH COMPOUND, PERAMANGALAM
THE MANAGER, PERAMANGALAM BRANCH, BANK OF BARODA, THRISSUR
A.M. SHAFFIQUE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
