Petitioner challenged sale proceedings under SARFAESI Act. Court granted relief allowing debt clearance in eight instalments from 31-01-2020, keeping proceedings in abeyance pending compliance.
Sale proceedings kept in abeyance pending payment of overdues and interests in 8 monthly instalments; default results in automatic vacation of stay.
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 ALEXANDER THOMAS
WEDNESDAY, THE 15TH DAY OF JANUARY 2020 / 25TH POUSHA, 1941
WP(C).No.1058 OF 2020(F)
PETITIONER:
K.VIJAYAMMA AGED 63 YEARS D/O. JAGADAMMA, T.C NO. 34/1094, LAKSHMI BHAVAN, SREE CHITHIRA NAGAR, HOUSE NO. 71, VALLAKKADAVU P.O, THIRUVANNATHAPURAM DISTRICT, PIN 695 008
BY ADVS. SRI.S.MANIKANTAN NAIR SRI.K.V.JAYADEEP MENON SRI.T.P.RAMESH (THENGUMPILLIL) SMT.P.KRISHNAPRIYA VAISHAKH M.S
RESPONDENT:
KERALA STATE CO-OPERATIVE BANK LTD EAST FORT P.O, THIRUVANANTHAPURAM DISTRICT, PIN 695 023, REPRESENTED BY THE AUTHORIZED OFFICER.
BY ADVS. SRI.THOMAS ABRAHAM, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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ALEXANDER THOMAS, J.
W.P(C). No. 1058 of 2020
Dated this the 15th day of January, 2020
JUDGMENT
The prayers in the above writ petition (civil) are as follows:-
appearing for the petitioner and Sri.Thomas Abraham, learned Standing Counsel appearing for the respondent Kerala State Cooperative Bank Ltd,.
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respondent bank is prepared to give to the petitioner one last opportunity to clear overdues in eight equal instalments starting from 31-01-2020, but subject to payment of all other applicable charges and interests and also subject to payment of the regular EMI instalments. Further the respondent would submit that in case the petitioner complies with the abovesaid directions, then the impugned proceedings will be kept in abeyance and that in case the petitioner does not pay any of the instalments as aforementioned, then the bank will be at liberty to proceed further in the matter from the stage where it has stopped.
Accordingly, the following directions and orders are issued:
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of the respective month. Until then, further steps pursuant to the impugned proceedings in this case will be kept in abeyance. Further it is ordered that the petitioner shall pay all the applicable charges and interest thereon and should also clear regular EMIs in time.
With these observations and directions, the Writ Petition (Civil) stands finally disposed of.
Sd/-
ALEXANDER THOMAS, JUDGE
KAS
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APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1
THE TRUE PHOTOCOPY OF THE NOTICE OF SALE DATED 19-12-2019 ISSUED BY THE RESPONDENT BANK TO THE PETITIONER UNDER THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 (SARFAESI)
EXHIBIT P2
THE TRUE PHOTOCOPY OF THE STATEMENT OF ACCOUNT OF THE LOAN TRANSACTION OF THE PETITIONER WITH THE RESPONDENT BANK
RESPONDENT'S/S EXHIBITS: NIL
//TRUE COPY// PA TO JUDGE
1 issue framed by the court
Whether sale proceedings under SARFAESI Act initiated by the Bank can be quashed allowing repayment via monthly instalments.
1 provisions across 1 enactments
K.VIJAYAMMA
KERALA STATE CO-OPERATIVE BANK LTD
ALEXANDER THOMAS
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
