The Court disposed of a writ petition challenging SARFAESI proceedings initiated by a bank. Permitting instalment payments for educational, housing, and vehicle loans as a means of repayment.
Petitioner ordered to clear educational loan in 8 monthly installments and housing loan overdue in 5 monthly installments, plus monthly instalments as agreed.
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
WEDNESDAY, THE 17TH DAY OF AUGUST 2016/26TH SRAVANA, 1938
WP(C).No. 3483 of 2014 (I)
PETITIONER :
N.C.ABDUL KAREEM, N.C.MAHAL, NEAR MEENCHANDA RAILWAY GATE, P.O.ARTS COLLEGE, KOZHIKODE - 673 018.
BY ADVS.SRI.S.EASWARAN
SRI.P.MURALEEDHARAN (IRIMPANAM) SRI.M.A.AUGUSTINE
RESPONDENT :
THE FEDERAL BANK LIMITED., REPRESENTED BY THE AUTHORISED OFFICER (CHIEF MANAGER), FEDERAL BANK LIMITED, BEYPORE, KOHIKODE - 673 028.
BY ADVS. SRI.MOHAN JACOB GEORGE SMT.P.V.PARVATHI SMT.REENA THOMAS
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17-08-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 3483 of 2014 (I)
APPENDIX
PETITIONER(S)' EXHIBITS
| EXT.P1: | RELEVANT PAGES OF THE PASS BOOK RELATING TO THE SAVINGS BANK ACCOUNT OF THE PETITIONER. |
|---|---|
| EXT.P2: | COPY OF CERTIFICTE DATED 5/6/2013 ISSUED BY THE UNIVERSITY OF CALICUT. |
| EXT.P3: | COPY OF REPRESENTATION DATED 15/2/2013 SUBMITTED BY THE PETITIONER AND OTHERS UNDER SEC. 13(3A) OF THE SECURITISATION ACT, 2002. |
| EXT.P4: | COPY OF PROCEEDINGS DATED 28/2/2013 ISSUED BY THE RESPONDENT. |
| EXT.P5: | COPY OF POSSESSION NOTICE DATED 22/01/2014 ISSUED BY THE RESPONDENT |
| EXT.P6: | COPY OF CLAIM CERTIFICATE BY BANK DATED 26/9/2013 ISSUED BY THE RESPONDENT. |
RESPONDENT(S)' EXHIBITS:
NIL
/TRUE COPY/
P.A.TO JUDGE
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A.M. SHAFFIQUE, J.
W.P.(C).No.3483 of 2014
Dated this, the 17th day of August, 2016
J U D G M E N T
Petitioner has approached this Court being faced with proceedings initiated by the respondent Bank under the SARFAESI Act.
Accordingly, this writ petition is disposed of as under:
(i) As far as the educational loan is concerned, the petitioner shall clear the entire outstanding amount in eight equal instalments starting from 19.09.2016.
(ii) The petitioner shall pay the overdue amount in respect of
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W.P.(C).No.3483 of 2014
the housing loan with accrued interest in five equal monthly instalments starting from 19.09.2016.
(iii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments with respect to the housing loan account as per the agreed terms.
(iv) 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
AV
2 issues framed by the court
Whether the petitioner is eligible for indulgence regarding repayment of outstanding dues against bank loans.
Whether a writ petition challenging proceedings under SARFAESI Act should be disposed of on terms of repayment.
N.C. Abdul Kareem
The Federal Bank Limited
A.M. Shaffique
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
