Kerala High Court
P.S.Ramesh Kumar vs State Bank Of India on 20 May, 2013
Author: V.Chitambaresh
Bench: V.Chitambaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE V.CHITAMBARESH
MONDAY, THE 20TH DAY OF MAY 2013/30TH VAISAKHA 1935
WP(C).No. 12464 of 2013 (G)
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PETITIONER :
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P.S.RAMESH KUMAR,
SON OF LATE PRABHAKARAN NAIR, AGED 57 YEARS,
RESIDING AT TC 28/721/1 VAISHNAVAM
PUNNAPURAM,PETTAH.P.O., THIRUVANANTHAPURAM-695 024.
BY ADV. SRI.P.C.HARIDAS
RESPONDENT(S):
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1. STATE BANK OF INDIA, RACPC, THIRUVANANTHAPURAM,
REPRESENTED BY THE MANAGER,
RACPC, THIRUVANANTHAPURAM, RACPC (RETAIL ASSETS CENTRAL
PROCEEDING CENTRE),PIN-695 004
2. AUTHORISED OFFICER, STATE BANK OF INDIA,
RACPC,LMS COMPOUND, THIRUVANANTHAPURAM.
RACPC (RETAIL ASSETS CENTRAL PROCEEDING CENTRE),PIN-695 004
BY ADV.SRI.R.S.KALKURA, SC, SBI
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 20-05-2013, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
sts
WP(C)NO.12464/2013(G)
APPENDIX
PETITIONER'S EXHIBITS:
P1 COPY OF THE RULE 8 (1) NOTICE ISSUED TO THE PETITIONER BY THE 2ND
RESPONDENT.
RESPONDENT'S EXHIBITS: NIL
/TRUE COPY/
P.A.TO.JUDGE
sts
V.CHITAMBARESH,J.
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W.P.(C) No. 12464 of 2013
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Dated this the 20th day of May, 2013
J U D G M E N T
The petitioner challenges Ext.P1 notice issued by the first respondent bank under the provisions of the SARFESI Act. The petitioner is willing to pay the overdue amount in easy instalments and regularise the loan account.
2. The bank submits that a sum of Rs.4,15,000/- (Rupees four lakhs fifteen thousand only) is the overdue amount even though the time for wiping off the entire loan expires in the year 2020 only. I therefore permit the petitioner to pay the overdue amount of Rs.4,15,000/- in two instalments starting from 1-7- 2013
3. The payment as above will not effect the payment schedule fixed as per the original loan agreement. The bank is also at liberty to recall the loan and initiate coercive proceedings in case any default is committed by the petitioner.
4. The premises taken possession of (which is an office run by a practicing Advocate ) shall be restored by the respondent W.P.(C) No. 12464 of 2013 bank within a period of three days.
The writ petition is disposed of.
V.CHITAMBARESH.
JUDGE smm