In a writ petition regarding SARFAESI proceedings, the court held that the petitioner, an agrarian loan defaulting borrower, could repay the outstanding amount with accrued interest over six monthly instalments, granting time on payment.
Direction to pay entire amount with accrued interest in six equal monthly instalments starting from 01/07/2016.
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
MONDAY, THE 30TH DAY OF MAY 2016/9TH JYAISHTA, 1938
WP(C).No. 5959 of 2016 (T)
PETITIONER(S) :
DEVIS.M.J, AGED 62 YEARS, S/O.JOSEPH, MADAMPY HOSUE, KEEZHMADU, ERUMATHALA.
BY ADV. SRI.P.V.GEORGE(PUTHIYIDAM)
RESPONDENT(S) :
1. AUTHORIZED OFFICER, THE ALWAYE URBAN CO-OPERATIVE BANK LTD.NO.1623, HEAD OFFICE, MARKET ROAD, ALUVA-683 101.
2. THE ALWAYE URBAN CO-OPERATIVE BANK LTD.NO.1623, REPRESENTED BY BRANCH MANAGER, EVENING BRANCH, DEEPAM BUILDING, MUNICIPAL OFFICE ROAD, OPP: TO POST OFFICE, ALUVA-683 101.
BY ADV. SRI.DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30-05-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Msd.
WP(C).No. 5959 of 2016 (T)
APPENDIX
PETITIONER(S)' EXHIBITS :
EXHIBIT P1: TRUE COPY OF THE MEDICAL CERTIFICATE ISSUED TO PETITIONER FROM RAJAGIRI HOSPITAL.
EXHIBIT P2: TRUE COPY OF THE POSSESSION NOTICE DATED 06.02.2016 ISSUED BY 2ND RESPONDENT.
RESPONDENT(S)' EXHIBITS :
NIL
//TRUE COPY//
P.A.TO JUDGE.
Msd.
**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.5959 of 2016
Dated this the 30th day of May 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:
W.P.C.No.5959/2016
2
(i) The petitioner shall pay the entire amount with accrued interest in six equal monthly instalments starting from 01/07/2016.
(ii) 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)
jsr
1 issue framed by the court
Whether the court should grant indulgence to a borrower facing financial difficulties who is willing to repay the loan via instalments.
Devis M.J
The Alwaye Urban Co-operative Bank Ltd.
A.M. Shaifque
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
