In a writ petition challenging SARFAESI proceedings, the petitioner sought directions to regulate loan repayment via monthly instalments. The Court held that regularisation does not arise for cash credit loans and dismissed the petition.
Petitioner dismissed; no directions issued to regularise loan or remit overdue amount.
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
THURSDAY, THE 19TH DAY OF MAY 2016/29TH VAISAKHA, 1938
WP(C).No. 7790 of 2016 (W)
PETITIONER(S) :
SANWAR, AGED 45 YEARS, S/O.KOYAKUTTY, KUDILUMGAL HOUSE, KANJIRAKKAD, PERUMBAVOOR, PIN:683 543, ERNAKULAM DISTRICT.
BY ADV. SRI.N.K.MOHANLAL
RESPONDENT(S) :
AUTHORISED OFFICER, FEDERAL BANK LTD., MECHAMKUNNEL SHOPPING COMPLEX, P.P.ROAD, PATTIMATTOM-683 562.
BY ADVS. SRI.A.ANTONY SMT.LEELAMMA ANTONY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19-05-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Msd.
WP(C).No. 7790 of 2016 (W)
APPENDIX
PETITIONER(S)' EXHIBITS :
EXHIBIT P1: A TRUE COPY OF SECTION 13(2) NOTICE DATED 03.10.2015. EXHIBIT P2: A TRUE COPY OF POSSESSION NOTICE DATED 19.01.2016. RESPONDENT(S)' EXHIBITS :
NIL
//TRUE COPY//
P.S.TO JUDGE.
Msd.
A.M. SHAFFIQUE, J.
============= W.P. (C) No. 7790 of 2016
===================
Dated this, the 24th day of May, 2016
J U D G M E N T
Petitioner had approached this Court challenging SARFAESI proceedings and seeking for a direction to regularise the loan account by remitting the overdue amount in 6 equal monthly instalments.
15 lakhs which was enhanced to 24 lakhs on 5/4/2014. He had also mortgaged his property as security. Since he could not repay the amount, SARFAESI proceedings had been initiated.W.P(C) No.7790/16
-:2:-
for renewal of the cash credit facility.
With the above observation, the writ petition is dismissed.
SD/-
A.M. SHAFFIQUE, JUDGE
Rp24/05/2016
//True Copy//
P.S to Judge
1 issue framed by the court
Whether the Court can direct the bank to regularise the loan account by allowing repayment in instalments.
SANWAR
AUTHORISED OFFICER, FEDERAL BANK LTD.
A.M. SHAFFIQUE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court