Disposed

Jacob John v. Indian Overseas Bank

Kerala HC6 Jan 2020WP(C)/5/2020

Case brief

AI extract

What is this about?

The Court issued directions regarding coercive Bank recovery proceedings under the SARFAESI Act. The Bank must provide a detailed account statement within one week. The petitioner is directed to clear dues in three equal monthly instalments starting 25.1.2020 plus regular EMIs. Proceedings are stayed if complied with.

What did the court decide?

Bank to furnish account statement within one week; Petitioner to clear dues in 3 equal monthly instalments from 25.1.2020 with regular EMIs; Impugned proceedings to be kept in abeyance upon compliance

Jacob John Vs Indian Overseas Bank — Banking and Recovery | Kerala HC (2020)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE ALEXANDER THOMAS

¶4

MONDAY, THE 06TH DAY OF JANUARY 2020 / 16TH POUSHA, 1941

¶5

WP(C).No.5 OF 2020(A)

¶6

PETITIONER/S:

¶7

JACOB JOHN AGED 44 YEARS S/O.JOHN, REHOBATH (ALEXANDER BHAVAN), PARANTHAL P.O., PANDALAM, PATHANAMTHITTA- 689501.

¶8

BY ADVS. SRI.T.K.BIJU (MANJINIKARA) SMT.ANNIE M.ABRAHAM

¶9

RESPONDENT/S:

¶10

INDIAN OVERSEAS BANK REP.BY ITS AUTHORIZED OFFICER, PARANTHAL BRANCH, ST.GEORGE ORTHODOX CHURCH BUILDINGS, PARANTHAL P.O., PATHANAMTHITTA- 689501.

¶11

OTHER PRESENT:

¶12

SRI.LEO GEORGE,SC

¶13

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶14

ALEXANDER THOMAS, J.

¶15

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

¶16

W.P.(C).No. 5 of 2020

¶17

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

¶18

Dated this the 6^th day of January, 2020

¶19

J U D G M E N T

¶20

The prayers in the above Writ Petition (Civil) are as follows:

¶21

“a) Issue a writ of mandamus or any other appropriate writ, order or direction directing the respondent to keep in abeyance coercive proceedings under the SARFAESI Act against the petitioner as per Ext.P-5 and permit him to clear the dues as on this date in instalments along with regular EMI's and to regularize the loan accounts.

¶22

b) Issue a writ of mandamus or any other appropriate writ, order or direction declaring that the respondent is liable to comply Ext.P-4 order passed by the Legal Services Authority, Pathanamthitta District in letter and spirit and hence direct the respondent to comply with the directions therein.

¶23

c) Issue such other reliefs.”

¶24

Heard Sri.T.K.Biju, learned counsel appearing appearing

¶25

for the petitioner and Sri.Leo George, learned Standing Counsel appearing for the respondent Indian Overseas Bank.

¶26

Sri.Leo George, learned Standing Counsel for the respondent bank submits on the basis of the instructions of his party that the respondent bank is prepared to give three equal monthly instalments to clear off entire overdue amounts starting from 25.1.2020, 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

¶27

W.P.(C).5/2020 - : 3 :-

¶28

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.

¶29

Accordingly, the following directions and orders are issued:

¶30

(i) The competent official of the respondent bank shall immediately furnish a comprehensive and authenticated statement of accounts pertaining to the instant loan transaction so as to precisely and clearly show the total dues to be paid by the borrower in the above transaction and the details may also be shown in the said statement, as to how the said figures have been arrived at, to the petitioner and this may be done within one week.

¶31

(ii) The petitioner shall clear the entire due amounts with all applicable charges and interest in 3 equal monthly instalments on 25.1.2020, 25.2.2020 and 25.3.2020. Further that the petitioner shall pay the regular EMI in time without fail.

¶32

(iii) In case the petitioner complies with the abovesaid directions, then the impugned proceedings shall be kept in abeyance. Further in case the petitioner does not pay any of the instalments, then the respondent bank will be at liberty to proceed further with the impugned steps from the stage where it has stopped.

¶33

With these observations and directions, the Writ Petition (Civil)

¶34

stands finally disposed of.

¶35

Sd/-

¶36

sdk+

¶37

ALEXANDER THOMAS, JUDGE

¶38

W.P.(C).5/2020 - : 4 :-

¶39

APPENDIX

¶40

PETITIONER'S/S EXHIBITS:

¶41

EXHIBIT P1	A TRUE COPY OF THE NOTICE UNDER SEC.13(2) OF THE ACT ISSUED BY THE RESPONDENT DATED 18.07.2017.
EXHIBIT P2	A TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT DATED 05.01.2018.
EXHIBIT P3	A TRUE COPY OF THE COMPLAINT FILED BY THE PETITIONER BEFORE THE LEGAL SERVICES AUTHORITY, PATHANAMTHITTA DISTRICT DATED 14.02.2018.
EXHIBIT P4	A TRUE COPY OF THE AWARD PASSED BY THE LEGAL SERVICES AUTHORITY, PATHANAMTHITTA DISTRICT IN PLP DATED 22.02.2018.
EXHIBIT P5	A TRUE COPY OF THE NOTICE DATED 21.12.2019 ISSUED BY THE RESPONDENT.

Jacob John v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

Jacob John v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Clinton Antony Vs State of Kerala

Satheesan, Vs the State of Kerala

C.K.Vinod, Vs State of Kerala

Kgm Gold Vs the State Tax Officer

T.N. Sankarapillai Vs the Intelligence Officer

P.v.Yesoda Amma, Vs Rajiv Gauba