Disposed

Seena Praveen v. the Kannur Co-Operative Urban Bank Ltd.

Kerala HC20 Oct 2016WP(C)/7781/2016

Case brief

AI extract

What is this about?

The Court disposed of a writ petition filed by a housewife challenged to enforcement proceedings by her husband's loaner bank. Finding her willingness to clear the debt, the Court directed repayment in installments while mentioning the Act.

What did the court decide?

It directed repayment of overdue amount and interest in eight monthly installments, regular monthly payments, and a statement of installments; default allows bank to take steps under law.

Seena Praveen Vs the Kannur Co-Operative Urban Bank Ltd. — Banking and Recovery | 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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THURSDAY, THE 20TH DAY OF OCTOBER 2016/28TH ASWINA, 1938

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WP(C).No. 7781 of 2016 (W)

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PETITIONER(S):

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SEENA PRAVEEN, W/O. PRAVEEN PAKKARVEETTIL, AGED 46 YEARS, HOUSEWIFE, RESIDING AT GEETHALAYAM, MAITHANAPALLI, P.O. THAYYIL, KANNUR DISTRICT - 670 003.

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BY ADV. SRI.R.SURENDRAN.

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RESPONDENT(S):

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1. THE KANNUR CO-OPERATIVE URBAN BANK LTD., REPRESENTED BY THE BRANCH MANAGER, KANNUR CO-OPERATIVE URBAN BANK LTD, CITY BRANCH, THAVAKKARA, KANNUR, KANNUR DISTRICT - 670 002.

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2. THE AUTHORISED RECOVERY OFFICER, THE KANNUR CO-OPERATIVE URBAN BANK LTD, HEAD OFFICE, THAVAKKARA, KANNUR DISTRICT - 670 002.

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BY ADVS. SRI.R.SREEHARI, SRI.M.V.SURESH (KANNUR).

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20-10-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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rs.

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WP(C).No. 7781 of 2016 (W)

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APPENDIX

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PETITIONER'S EXHIBITS:-

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P1 - TRUE COPY OF PASSBOOK OF PETITIONER'S HUSBAND PRAVEEN ISSUED BY FISHERMEN WELFARE FUND BOARD.

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P2 - TRUE COPY OF NOTICE DTD. 18.12.2014 ISSUED BY THE SECOND RESPONDENT UNDER SECTION 13(2) OF THE SARFAESI ACT.

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P3 - TRUE COPY OF NOTICE DTD. 08.01.2016 PUBLISHED IN MALAYALA MANORAMA DAILY ON 11.01.2016 BY THE RESPONDENT NO.2.

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RESPONDENT'S EXHIBITS:- NIL.

//TRUE COPY//

P.S. TO JUDGE

rs.

A.M. SHAFFIQUE, J.

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W.P.(C) No. 7781 of 2016

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Dated this the 20^th day of October, 2016

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JUDGMENT

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Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner's husband had taken a loan for Rs.3.50,000/- and he 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,

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W.P.(C) No. 7781 of 2016

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-2-

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I am of the view that some indulgence can be shown to the petitioner.

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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

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accrued interest in eight equal monthly instalments starting from 21/11/2016 .

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(ii) In addition to payment of the aforesaid amount, petitioner shall also remit the 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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(iv) The respondent Bank shall provide a statement to the petitioner showing the installments payable by the petitioner within a period of one week from today.

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Sd/-

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A.M. SHAFFIQUE JUDGE

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Scl/20.10.2016

Seena Praveen v. the Kannur Co-Operative Urban Bank Ltd.

Case brief

What is this about?

What did the court decide?

Seena Praveen v. the Kannur Co-Operative Urban Bank Ltd.

Case brief

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What the court decided

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Statutes considered

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