Disposed

Chandrahasan.P v. Authorised Officer

Kerala HC5 Feb 2021WP(C)/2662/2021

Case brief

AI extract

What is this about?

This petition concerned suspension of SARFAESI action on a defaulting housing loan. The court directed the petitioner to pay one-third of the overdue amount within a month, clear the balance in five installments, and pay regular EMIs.

What did the court decide?

Suspension of SARFAESI action conditioned on payment of one-third overdue by March 2021 and balance in five monthly installments commencing April 9, 2021.

Chandrahasan.P Vs Authorised Officer — Banking and Recovery | Kerala HC (2021)

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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.BADAR

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FRIDAY, THE 05TH DAY OF FEBRUARY 2021 / 16TH MAGHA,1942

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WP(C).No.2662 OF 2021(G)

PETITIONER:

CHANDRAHASAN.P

AGED 45 YEARS

S/O.PARAMU.M., CHANDRAVILASAM, PANAPPETTY, PORUVAZHI P.O., KOLLAM-690 520.

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BY ADV. SRI.VINOY VARGHESE KALLUMOOTTILL

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RESPONDENTS:

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1 AUTHORISED OFFICER KERALA GRAMIN BANK, REGIONAL OFFICE, KGB TOWERS, BAKERY JN., THIRUVANANTHAPURAM-695 001.

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2 BRANCH MANAGER, KERALA GRAMIN BANK, BHARANIKKAVU BRANCH, KOLLAM DISTRICT.

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OTHER PRESENT:

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SC-JAWAHAR JOSE

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No.2662 OF 2021(G)

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JUDGMENT

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Dated this the 5th day of February 2021

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Heard both sides.

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Learned counsel for the petitioner argued that the petitioner

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is not challenging the action taken by the secured creditor under the SARFAESI Act, but he wants to clear the overdue amount apart from regular payment of EMIs.

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Learned counsel for the respondents submits that the overdue amount of Housing Loan taken by the petitioner is Rs.5,07,588/- and the petitioner is having with him, 14 years to repay the loan. However, he has committed default and therefore the entire loan is recalled by issuing demand Notice under Section 13(2) of the SARFAESI Act. The learned counsel for the respondents however submitted that the respondents will take sympathetic view if 1/3^rd of the overdue amount is paid by the petitioner by the end of March, 2021 and the remaining amount is cleared in some installments apart from regular payment of EMI.

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In this view of the petition is disposed of with the following

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order.

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The petitioner to clear 1/3^rd of the overdue amount of Rs.5,07,588/- by depositing the same with the respondent by the end

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WP(C).No.2662 OF 2021(G)

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of March 2021. The petitioner to clear of the balance of the overdue amount in five equated monthly installments commencing from 09/04/2021. The petitioner to pay regular EMIs. If this directions are followed, then the respondents shall keep the coercive action under the SARFAESI Act in abeyance. A single default by the petitioner shall entail the respondents to continue with the SARFAESI action taken under the SARFAESI Act. It is made clear that, as the prayer made by the petitioner is virtually granted, no further extension of time to comply with this order shall be granted to the petitioner.

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Sd/-

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A.M.BADAR

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Nsd //true copy// PA to Judge

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JUDGE

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WP(C).No.2662 OF 2021(G)

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APPENDIX

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PETITIONER'S/S EXHIBITS:

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EXHIBIT P1 TRUE COPY OF THE DISABILITY CERTIFICATE OF PETITIONERS SON ISSUED BY THE MEDICAL BOARD. EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 02.12.2020 WITH TRANSLATION. EXHIBIT P3 TRUE COPY OF THE REPRESENTATION SUBMITTED BEFORE THE CHIEF MANAGER KERALA GRAMIN BANK DATED 04.01.2021 WITH TRANSLATION. EXHIBIT P4 TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(2) OF THE SARFAESI ACT.

Chandrahasan.P v. Authorised Officer

Case brief

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What did the court decide?

Chandrahasan.P v. Authorised Officer

Case brief

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What did the court decide?

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