Disposed

Moideen Koya v. Authorized Officer Under Sarfaesi Act, Cholamandalam Investment and Finance Company

Kerala HC1 Mar 2023WP(C)/414/2023

Case brief

AI extract

What is this about?

Kerala High Court disposed of a writ petition in a loan recovery matter, directing the petitioner to pay a lump sum of Rs.1 lakh by 29.03.2023 and balance in eight monthly instalments starting 29.04.2023, with promise of account regularisation upon full payment.

What did the court decide?

Directed to pay Rs.1,00,000 by 29.03.2023 and balance in 8 monthly instalments; respondent to regularise account if full payment made.

Moideen Koya Vs Authorized Officer Under Sarfaesi Act… — Banking and Recovery | Kerala HC (2023)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE T.R.RAVI

¶4

WEDNESDAY, THE 1ST DAY OF MARCH 2023 / 10TH PHALGUNA, 1944

¶5

WP(C) NO. 414 OF 2023

¶6

PETITIONER:

¶7

MOIDEEN KOYA
AGED 58 YEARS
S/O KUNHAMMMAD, AGED 58 YEARS, KATTOTTIL HOUSE,
PUTHOORVATTAM, THURUTHIYAD PO, PIN – 673612.

¶8

BY ADV JISSMON A KURIAKOSE

¶9

RESPONDENT:

¶10

AUTHORIZED OFFICER UNDER SARFAESI ACT,
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY
HAVING OFFICE AT DARE HOUSE 2, N.S.C BOSE ROAD,
PARRYS, CHENNAI, PIN – 600001.

¶11

BY ADV P.PAULOCHAN ANTONY P

¶12

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶13

WP(C) NO. 414 OF 2023

¶14

¶15

T.R. RAVI, J.

¶16

-------------------------------------------- W.P.(C) No.414 of 2023

¶17

Dated this the 01^st day of March, 2023

¶18

JUDGMENT

¶19

The prayer in the writ petition is to permit the petitioner to pay off the overdue amounts in the loan account availed from the respondent in easy instalments and to regularise the loan account. The Standing Counsel on instructions submits that the overdue amount is Rs.4,44,262/-.

¶20

In the above circumstances, the writ petition is disposed of directing the petitioner to pay a sum of Rs.1,00,000/- (Rupees one lakh only) on or before 29.03.2023 and the balance in 8 equal monthly instalments, the frst instalment falling due on or i before 29.04.2023 and the subsequent instalments falling due on or before the 29 th of the succeeding months. The petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioner pay s the entire overdue amount, the respondent shall

¶21

WP(C) NO. 414 OF 2023

¶22

¶23

regularise the loan account. If the petitioner makes a single default in the payment of instalments, the respondent will be at liberty to continue with coercive steps for recovery. The coercive steps initiated shall be kept in abeyance to facilitate the payment of instalments as directed above.

Sd/-

T.R.RAVI JUDGE

mpm

WP(C) NO. 414 OF 2023

¶28

¶29

APPENDIX OF WP(C) 414/2023

¶30

PETITIONER’S EXHIBITS

¶31

Exhibit P1TRUE COPY NOTICE ISSUED BY RESPONDENT DATED
THE 23/11/2021.
Exhibit P2TRUE COPY OF NOTICE ISSUED UNDER SECTION
13(2) OF SARFAESI ACT.
Exhibit P3TRUE COPY OF THE RECEIPT OF PAYMENT.
Exhibit P4TRUE COPY OF THE DISCHARGE SUMMARY ISSUED
BY THE NIRMALA HOSPITAL DATED 7/11/2022.

Moideen Koya v. Authorized Officer Under Sarfaesi Act, Cholamandalam Investment and Finance Company

Case brief

What is this about?

What did the court decide?

Moideen Koya v. Authorized Officer Under Sarfaesi Act, Cholamandalam Investment and Finance Company

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

Adv. E.M. Sunilkumar Vs Union of India

Dr.P.S. George Vs Safna Nazarudeen IAS

Katheeja, Vs Housing Development Finance Corporation Limited

Johnson George, Vs the Coastal Urban Co-Operative Bank Limited

Baburajan A.C. Vs Secretaryt to Finance

Saranya Krishnan Vs Authorized Officer, Idbi Bank Limited