Kerala High Court
P.P.Abdu Rehiman vs Malappuram District Co-Operative ... on 27 November, 2012
Author: Antony Dominic
Bench: Antony Dominic
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE ANTONY DOMINIC
TUESDAY, THE 27TH DAY OF NOVEMBER 2012/6TH AGRAHAYANA 1934
WP(C).No. 28020 of 2012 (B)
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PETITIONER(S):
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P.P.ABDU REHIMAN,, AGED 55 YEARS
S/O YAHU, PUTHENPEEDIYEKKAL HOUSE
PADINJARENIRAPPU P.O, KADAMPUZHA, TIRUR TALUK
BY ADVS.SRI.BLAZE K.JOSE
SMT.N.DEEPA
RESPONDENT(S):
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1. MALAPPURAM DISTRICT CO-OPERATIVE URBAN BANK LTD,
NO 4329, KADAMPUZHA BRANCH MALAPPURAM DISTRICT
REPRESENTED BY ITS BRANCH MANAGER 675563
2. THE AUTHORIZED OFFICER,
THE GENERAL MANAGER IN CHARGE
THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD NO 4329 H.O
MALAPPURAM, MALAPPURAM DISTRICT 675001
BY ADV. SRI.E.S.M.KABEER FOR BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27-11-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC NO.28020/12
APPENDIX
PETITIONER'S EXHIBITS
EXT. P1 TRUE COPY OF THE NOTICE U/S 13(2) OF SECURITISATION ACT 21-
06-2012
//True Copy//
PA to Judge
Rp
ANTONY DOMINIC, J.
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W.P.(C) NO. 28020 OF 2012
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Dated this the 27th day of November, 2012
J U D G M E N T
In 2010, petitioner availed of a business loan of `5,00,000/- from the respondent Bank. The period of the loan is 8 years. Default was committed by the petitioner and in such circumstances, SARFAESI proceedings were initiated. Finally the Bank issued Ext.P1 notice under Section 13(4) of the Act. It is at that stage the writ petition has been filed with a prayer to allow the petitioner to get the loan regularised.
2. I heard the learned counsel for the respondent Bank also.
3. As already seen, what is sought for by the petitioner is an order for regularisation of the loan in question. Such request of the petitioner can be entertained only if the petitioner clears the defaulted dues. Therefore, I direct that the petitioner shall pay the entire defaulted dues in two monthly instalments. The first instalment shall be paid on or before 5/12/12 and the second instalment shall be paid on or before 5/1/13. Along with the instalments, the current EMI shall also be paid. If payments are WPC.No.28020/12 :2 : made as above and the defaulted dues are cleared, the loan in question will be regularised and the petitioner will be permitted to pay the balance liability as per the loan agreement. In order to enable the petitioner to do so, I direct that, subject to payment as ordered herein above, coercive action will be deferred. It is clarified that, in case the petitioner makes default in complying with the conditions imposed by this Court, respondents will be free to continue the recovery action already initiated by them.
Writ petition is disposed of as above.
ANTONY DOMINIC, JUDGE Rp