Allowed

Selva Livingston v. the Manager

Kerala HC3 Jun 2016WP(C)/7208/2016

Case brief

AI extract

What is this about?

In a writ petition under the SARFAESI Act, the Court allowed the petitioner to clear his outstanding debt to the bank by paying the balance amount in six equal monthly instalments starting July 2016. The Bank reserves the right to initiate further legal action in case of default.

What did the court decide?

Order that the petitioner shall pay the entire balance amount in six equal monthly instalments starting from 5th July, 2016; in default, Respondent Bank may take such steps as per law.

Selva Livingston Vs the Manager — 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 3RD DAY OF JUNE 2016/13TH JYAISHTA, 1938H

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WP(C).No. 7208 of 2016 (A)

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PETITIONER:

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MR.SELVA LIVINGSTON, AGED 48 YEARS, KP IX 473 A, VATTAPARA VILLAGE, KARAKULAM PANCHAYATH, THIRUVANANTHAPURAM - 695 028.

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BY ADV. SMT.KEERTHI SOLOMON

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RESPONDENT(S):

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1. THE MANAGER,STATE BANK OF INDIA (RECOVERY BRANCH), 1ST FLOOR, "SANGAMAM", GENERAL HOSPITAL ROAD, THIRUVANANTHAPURAM - 695 001.

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2. THE MANAGER, STATE BANK OF INDIA, SARB, LAKSHMI GANAPATHY KOVIL ROAD, VAZHUTHAKAD, THIRUVANANTHAPURAM - 695 014.

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3. AUTHORIZED OFFICER, ASSET RECONSTRUCTION CO(INDIA) LTD, OFFICE NO.715-C, 7TH FLOOR, SPENCER PLAZA - PHASE II, NO.769, ANNA SALAI , CHENNAI -2.

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R1 & R2 BY SMT.S.AMBILY, SC R3 BY ADV. SRI.B.S.SURESH KUMAR

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03-06-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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mbr/

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WP(C).No. 7208 of 2016 (A)

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APPENDIX

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PETITIONER(S)' EXHIBITS:

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P1TRUE COPY OF THE STATEMENT OF ACCOUNT DATED 16.4.2014 ISSUED FROM THE 2ND RESPONDENT TO THE PETITONER.

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P2A TRUE COPY OF THE BANK RECEIPT ISSUED TO THE PETITONER DATED 16.4.2014.

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P3A TRUE COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT DATED 28.12.2015.

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P4A TRUE COPY OF THE REPLY LETTER NO. SARB/16/522/2015-16 DATED 22.12.2015.

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P5TRUE COPY OF THE LETTER DATED 5.1.2016.

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P6TRUE COPY OF THE LETTER DATED 8.1.2016.

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P7A TRUE COPY OF THE REPLY NOTICE DATED 28.1.2016.

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P8A TRUE COPY OF THE REPLY NOTICE DATED 16.2.2016

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RESPONDENT(S)' EXHIBITS:

NIL

//TRUE COPY//

P.S. TO JUDGE

mbr/

A.M. SHAFFIQUE, J.

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============= W.P. (C) No. 7208 of 2016

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

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Dated this, the 3^rd day of June, 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 under the SARFAESI Act. It is submitted by the petitioner that the 1^st respondent Bank had assigned debt to the 3^rd respondent, who had now initiated steps for recovering the amount from the petitioner. Petitioner submits that certain amounts have been paid by the petitioner towards the loan account, which is liable to be adjusted from the amounts claimed by the 3^rd respondent.

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Learned counsel for the petitioner only seeks some time to repay the entire balance amount.

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Having regard to the aforesaid factual situation, this writ petition is disposed of as under:

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(i) The petitioner shall pay the entire balance amount after crediting the amount already paid in 6 equal monthly instalments starting from 5^th July, 2016.

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

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W.P(C) No.7208/16

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-:2:-

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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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Rp3/06/2016

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//True Copy//

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P.S to Judge

Selva Livingston v. the Manager

Case brief

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Selva Livingston v. the Manager

Case brief

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