Allowed

Vasanthi Kumari v. the Authorised Officer

Kerala HC25 Jul 2016WP(C)/4445/2016

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging SARFAESI proceedings by the respondent bank against the petitioner, a housing loan defaulter. Finding the petitioner willing to repay, the Court directed payment of overdue amounts with interest in 15 equal monthly instalments starting 22/08/2016, along with regular instalments. Default would permit the bank to take legal action.

What did the court decide?

Order directing petitioner to pay overdue amount with interest in 15 equal monthly instalments starting 22/08/2016 and remit monthly instalments as per agreed terms.

Vasanthi Kumari Vs the Authorised 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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MONDAY, THE 25TH DAY OF JULY 2016/3RD SRAVANA, 1938

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WP(C).No. 4445 of 2016 (E)

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PETITIONER:

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VASANTHI KUMARI V.G, W/O. SASIDHARAN PILLAI, KAVITHA VILSAM, KALLUVATTAMKUZHY, KULATHUPUZHA, KOLLAM DISTRICT.

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BY ADVS.SRI.E.NARAYANAN

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SRI.P.M.UNNI NAMBOODIRI

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RESPONDENT(S):

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1. THE AUTHORISED OFFICER, KOLLAM DISTRICT CO-OPERATIVE BANK, CHINNAKKADA, KOLLAM - 691 001.

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2. THE BRANCH MANAGER, DISTRICT CO-OPERATIVE BANK LTD, KULATHUPUZHA BRANCH, KOLLAM - 691 306.

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BY SRI.T.R.HARIKUMAR, SC.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25-07-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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K.V

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WP(C).No. 4445 of 2016 (E)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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----------------------P1 - TRUE COPY OF THE NOTICE DT. 17.09.2015. P2 - TRUE COPY OF THE NOTICE DT. 22.12.2015.

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RESPONDENT(S)' NIL.

/TRUE COPY/

P.S.TO JUDGE

K.V.

A.M. SHAFFIQUE, J.

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=============== W.P. (C) No. 4445 of 2016

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

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Dated this, the 25^th day of July, 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 proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner had taken a housing loan for `8 lakhs. 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.4445/16

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-:2:-

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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 15 equal monthly instalments starting from 22/8/2016.

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(ii) In addition to payment of the aforesaid amount, petitioner shall also remit 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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Rp25/07/2016

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//True Copy//

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P.S to Judge

Vasanthi Kumari v. the Authorised Officer

Case brief

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Vasanthi Kumari v. the Authorised Officer

Case brief

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