Disposed

P.Mohammed Rashid v. the Branch Manager

Kerala HC10 Jan 2017WP(C)/162/2017

Case brief

AI extract

What is this about?

The petitioner, admitted defaulting on housing, vehicle, and term loans to the 1st and 2nd respondents, intervened in SARFAESI proceedings initiated against his property. The court disposed of the writ petition by ordering the bank to grant twelve monthly instalments for arrears repayment while keeping recovery proceedings in abeyance, subject to strict conditions regarding installment payments.

What did the court decide?

Grant of twelve monthly instalments for arrears payment; recovery proceedings kept in abeyance if instalments and EMIs are paid as per order.

P.Mohammed Rashid Vs the Branch Manager — Banking and Recovery | Kerala HC (2017)

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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 K.VINOD CHANDRAN

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TUESDAY, THE 10TH DAY OF JANUARY 2017/20TH POUSHA, 1938

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WP(C).No. 162 of 2017 (U)

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PETITIONER(S):

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P.MOHAMMED RASHID,

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AGED 36 YEARS, S/O KUNCHALAN, VALLIKKATTUTHODI HOUSE, (P.O) NELLAYA, CHERPULASSERY, PALAKKAD DISTRICT, PIN:679 504.

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BY ADV. SRI.K.RAVI (PARIYARATH)

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RESPONDENT(S):

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1. THE BRANCH MANAGER, KERALA GRAMIN BANK, CHERPULASSERY BRANCH, CHERPULASSERY, PALAKKAD DISTRICT, PIN:679 504.

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2. THE AUTHORIZED OFFICER, KERALA GRAMIN BANK, CHERPULASSERY BRANCH, CHERPULASSERY, PALAKKAD DISTRICT, PIN:679 504.

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3. THE REGIONAL MANAGER, KERALA GRAMIN BANK, REGIONAL OFFICE, EAST FORT, THRISSUR.

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BY ADV. SRI.K.M.ANEESH

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10-01-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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msv/

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WP(C).No. 162 of 2017 (U)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE SALE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 27.1.2016.

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EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER IN CMP NO.6261/16 ON THE FILE OF THE CHIEF JUDICIAL MAGISTRATE, PALAKKAD DATED 19.12.16.

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RESPONDENT(S)' EXHIBITS

NIL

//TRUE COPY//

P.S.TO JUDGE

msv/

K. VINOD CHANDRAN, J

W.P(C) No. 162 of 2017 - U

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Dated this the 10^th day of January, 2017

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J U D G M E N T

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The petitioner availed financial assistance from the

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1^st respondent Bank under different heads. On default being

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committed the respondents initiated SARFAESI proceedings against the property of the petitioner. The liability and the default is admitted. Considering the facts of the case and the alleged impecunious circumstances of the petitioner, this writ

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petition is disposed of on the following terms.

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(i) The total defaulted arrears with respect to the

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housing loan, Vehicle loan and term loan are said to be

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Rs.7,35,011/-, Rs.2,35,128/- and Rs.15,06,770/- respectively as on

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09.01.2017.

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(ii) The respondents shall grant twelve monthly

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WPC.No.162/2017

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: 2 :

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instalments for the payment of the arrears, starting from 10.02.2017 along with the regular EMIs.

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(iii) Recovery proceedings shall be kept in

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abeyance on condition that the remittances as per this order are made without any default, along with regular EMIs on the

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respective due dates.

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(iv) On the petitioner making two defaults in repaying the installments as also the regular EMIs, the recovery steps initiated shall revive and continue.

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(v) On the 12^th instalment being satisfied, the

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respondent shall issue a statement of future interest accrued

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from 09.01.2017 which shall be satisfied by the petitioner on

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the 10^th of the succeeding month as 13^th instalment.

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(vi) On the petitioner satisfying the entire arrears,

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as also the EMI's the recovery proceedings shall be

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WPC.No.162/2017

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: 3 :

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unenforceable and the petitioner shall be permitted to satisfy

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the EMI as per the original agreement.

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Writ Petition is disposed of as above, making it clear

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that the respondent will be free to proceed with the recovery

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if the above conditions are not complied with.

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Sd/-

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(K. VINOD CHANDRAN, JUDGE)

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jma

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//true copy//

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P.A to Judge

P.Mohammed Rashid v. the Branch Manager

Case brief

What is this about?

What did the court decide?

P.Mohammed Rashid v. the Branch Manager

Case brief

What is this about?

What did the court decide?

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