Partly allowed

Archana.T v. the Authorised Officer and Another

Kerala HC29 Nov 2016WP(C)/30916/2010

Case brief

AI extract

What is this about?

This writ petition arose from SARFAESI proceedings initiated by a bank for non-repayment of a loan. The petitioner expressed willingness to pay in instalments. The court was indulgent to the petitioner and disposed of the petition by directing installment payment with a threat of resumption of proceedings in case of default.

What did the court decide?

Petitioner shall pay the entire amount with accrued interest in ten equal monthly instalments starting from 3/01/2017; default allows bank to take legal steps.

Archana.T Vs the Authorised Officer and Another — 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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TUESDAY, THE 29TH DAY OF NOVEMBER 2016/8TH AGRAHAYANA, 1938

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WP(C).No. 30916 of 2010 (L)

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PETITIONER(S):

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ARCHANA.T, AGED 33 YEARS, KALAPPURAYIL, EDACHANTHA, PATTOLI, MARKET P O, ALAPPUZHA DISTRICT.

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BY ADVS.SRI.P.SREEKUMAR

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SRI.K.S.MANU (PUNUKKONNOOR)

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RESPONDENT(S):

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1. THE AUTHORISED OFFICER, CORPORATION BANK, MUTHUKULAM, ALAPPUZHA DISTRICT.

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2. THE BRANCH MANAGER, CORPORATION BANK, MUTHUKULAM, ALAPPUZHA DISTRICT.

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BY ADVS. SRI.N.RAJENDRAN SRI.VIVEK VARGHESE

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29-11-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 30916 of 2010 (L)

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APPENDIX

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PETITIONERS' EXHIBITS

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P1: COPY OF THE LETTER DATED 18/3/10 ISSUED BY THE R1

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P2: COPY OF THE DEMAND PLACED BY THE ADVOCATE COMMISSIONER ON 6/10/10.

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RESPONDENTS' EXHIBITS

NIL.

/ TRUE COPY /

P.S. TO JUDGE

A.M. SHAFFIQUE, J.

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W.P.(C) No. 30916 of 2010

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Dated this the 29^th day of November, 2016

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JUDGMENT

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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 taken a loan from the respondent bank. But 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

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petitioner is ready and willing to pay the entire amount in instalments, if some time is granted.

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Having regard to the fact that the petitioner had

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expressed the willingness to repay the amount in instalments,

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

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W.P.(C) No. 30916 of 2010

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-2-

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petitioner.

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Accordingly, this writ petition is disposed of as under: (i) The petitioner shall pay the entire amount with

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accrued interest in ten equal monthly instalments starting from

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3/01/2017.

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(ii) If there is default in payment of any of the aforesaid

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amounts, it shall be open for the respondent Bank to take such

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steps in accordance with law.

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Sd/A.M. SHAFFIQUE JUDGE

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Scl/29.11.2016

Archana.T v. the Authorised Officer and Another

Case brief

What is this about?

What did the court decide?

Archana.T v. the Authorised Officer and Another

Case brief

What is this about?

What did the court decide?

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