Allowed

Vipin Chandra Bose v. Authorized Officer, Federal Bank Ltd.

Kerala HC20 May 2016WP(C)/32203/2015

Case brief

AI extract

What is this about?

The High Court of Kerala disposed of a writ petition filed under the SARFAESI Act. The petitioner, facing financial difficulties, sought an instalment facility or a deferral period to repay bank dues. The court directed the petitioner to pay the entire outstanding amount in equal monthly instalments, subject to default clauses.

What did the court decide?

Petitioner directed to pay entire amount in 10 equal monthly instalments starting 20/6/2016; default attracts normal bank steps.

Vipin Chandra Bose Vs Authorized Officer… — 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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FRIDAY, THE 20TH DAY OF MAY 2016/20TH VAISAKHA 1938

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WP(C).No. 32203 of 2015 (A)

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PETITIONER :

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VIPIN CHANDRA BOSE

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AGED 29, S/O.SUNDARAN, PROPRIETOR, M/S. S.L.TRADERS, THOONGAMPARA, KANDALA P.O., NOW RESIDING AT VENGANINNA VEEDU, THOONGAMPARA, KANDALA P.O.

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BY ADVS.SRI.R.T. PRADEEP SMT.M.BINDUDAS

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RESPONDENT(S) :

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1. AUTHORIZED OFFICER, FEDERAL BANK LTD., REGISTERED OFFICE : ALUVA, ERNAKULAM - 683 101.

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2. MANAGER FEDERAL BANK LTD., KATTAKKADA BRANCH- 695 121.

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3. SHAJI

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BUILDING NO. KP XVI/37, KULATHUMMAL VILLAGE- 695 121.

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4. JASILET BAI BUILDING NO. KP XVI/37, KULATHUMMAL VILLAGE- 695 121.

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R1 & R2 BY ADVS. SRI.REJI GEORGE

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SRI.BINOY DAVIS

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SMT.SIJI JOY

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20-05-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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...2/-

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WP(C).No. 32203 of 2015 (A)

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APPENDIX

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PETITIONER(S)' EXHIBITS :

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EXHIBIT P1. COPY OF THE LOAN SANCTION LETTER DATED 27.3.13 ISSUED TO THE PETITIONER.

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EXHIBIT P2. COPY OF THE TAX RECEIPT DATED 5.5.14 WITH RESPECT TO THE 55 CENTS COMPRISED IN SURVEY NO. 289/5 OF MARANALLOOR VILLAGE.

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RESPONDENT(S)' EXHIBITS : NIL

//TRUE COPY//

P.S. TO JUDGE

A.M. SHAFFIQUE, J.

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============= W.P. (C) No. 32203 of 2015

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===================

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Dated this, the 20^th day of May, 2016

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J U D G M E N T

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Petitioner has approached this Court when proceedings were taken by the respondent Bank under SARFAESI Act. According to the petitioner, he was unable to pay the amount due to the Bank on account of several financial difficulties and hence has sought for payment of the amount in instalments.

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This case was filed on 20/10/2015. Already the time sought for by the petitioner had expired. It is stated that Chief Judicial Magistrate had passed an order directing the Advocate Commissioner to take possession of the property at which stage, this writ petition is filed.

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There was an interim order not to dispossess the petitioner which was in force upto 15/12/2015. Thereafter, interim order is not extended as well.

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Learned counsel appearing for the respondent Bank submits that the total outstanding dues would come to `13,10,840/-. Learned counsel for the petitioner seeks for an

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W.P(C) No.32203/15

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instalment facility to repay the amount or to grant a period of six months to pay the entire amount.

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Taking into consideration the arguments raised on

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behalf of either parties, I am of the view that this writ petition can be disposed of as under:

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(i) That the petitioner shall pay the entire amount in 10 equal monthly instalments starting from 20/6/2016.

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(ii) If there is default in payment of any of the instalments, it shall be open for the respondent Bank to take such steps in accordance with law.

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Sd/- A.M. SHAFFIQUE, JUDGE

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Rp21/05/2016

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//True Copy//

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P.S to Judge

Vipin Chandra Bose v. Authorized Officer, Federal Bank Ltd.

Case brief

What is this about?

What did the court decide?

Vipin Chandra Bose v. Authorized Officer, Federal Bank Ltd.

Case brief

What is this about?

What did the court decide?

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