Mohanan. E vs The General Manager

[Cites 1, Cited by 1]

Kerala High Court

Mohanan. E vs The General Manager

Bench: A.M.Shaffique

        

 
IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                               PRESENT:

                         THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE

                 TUESDAY,THE 21ST DAY OF JUNE 2016/31ST JYAISHTA, 1938

                                   WP(C).No. 21004 of 2016 (A)
                                   ----------------------------------------




PETITIONER(S):
----------------------

        1. MOHANAN. E, AGED 53 YEARS,
            S/O.NADI, IRIKKODAN HOUSE,
            KOTTAKKUNNU, P.O MALAPPURAM,
            MALAPPURAM DISTRICT.

        2. RADHAMANI M.P,
            W/O.MOHANAN, IRIKKODAN HOUSE, KOTTAKKUNNU,
            P.O MALAPPURAM, MALAPPURAM DISTRICT.

            BY ADVS.SRI.K.MOHANAKANNAN
                         SMT.A.R.PRAVITHA
                         SRI.NOEL JOSEPH

RESPONDENT(S):
-------------------------

        1. THE GENERAL MANAGER,
            MALAPPURAM DISTRICT CO-OPERATIVE BANK LIMITED,
            HEAD OFFICE, UPHILL, MALAPPURAM DISTRICT-676 505.

        2. THE AUTHORISED OFFICER AND DEPUTY GENERAL MANAGER,
            MALAPPURAM DISTRICT CO-OPERATIVE BANK LIMITED,
            HEAD OFFICE, UPHILL, MALAPPURAM 676 505.

            BY SRI.E.S.M.KABEER,SC


            THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
             ON 21-06-2016, THE COURT ON THE SAME DAY DELIVERED THE
             FOLLOWING:


PJ

WP(C).No. 21004 of 2016 (A)
----------------------------------------

                                            APPENDIX

PETITIONER(S)' EXHIBITS
-------------------------------------

P1:       COPY OF THE NOTICE DATED 22.12.15 ISSUED BY THE IST RESPONDENT U/S.
          13 OF SARFAESI ACT.

P2:       COPY OF THE NOTICE PUBLISHED IN VEEKSHANAM DAILY MALAPPURAM
          EDITION DATD 5.4.16.

RESPONDENT(S)' EXHIBITS
---------------------------------------

          NIL.

                                                        / TRUE COPY /


                                                        P.S. TO JUDGE
PJ



                         A.M.SHAFFIQUE, J.
                    ------------------------------------
                      W.P.(C).No.21004 of 2016
                    -----------------------------------
                Dated this the 21st day of June, 2016

                           J U D G M E N T

Petitioners have approached this Court being faced with proceedings initiated by the respondent Bank under the SARFAESI Act.

2. Petitioners had taken a housing loan for `8 lakhs. The petitioners could not repay the monthly instalments in time on account of certain financial difficulties. In the meantime, proceedings had been taken by the respondent Bank under the SARFAESI Act.

3. Learned counsel for the petitioners submits that the petitioners are ready and willing to pay the outstanding dues in instalments and will also pay the regular instalments if some time is granted.

4. Learned counsel for the respondent Bank submits that the overdue amount would come to `4,97,681/-.

5. Having regard to the fact that the petitioners had expressed their willingness to repay the amount in instalments, I am of the view that some indulgence can be shown to the petitioners.

Accordingly, this writ petition is disposed of as under:

(i) The petitioners shall pay the overdue amount of `4,97,681/- with accrued interest in ten equal monthly instalments starting from 21.07.2016.

W.P.(C).No.21004 of 2016 2

(ii) In addition to payment of the aforesaid amount, petitioners shall also remit monthly instalments as per the agreed terms.

(iii) If there is default in payment of any of the aforesaid amounts, it shall be open for the respondent Bank to take such steps in accordance with law.

Sd/-

A.M.SHAFFIQUE, JUDGE.

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