IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 22890 of 2009()
1. ARU, S/O.KOTTU AGED 75 YEARS,
... Petitioner
Vs
1. THE MANAGER, INDIAN BANK,
... Respondent
2. AUTHORISED OFFICER, INDIA BANK,
For Petitioner :SRI.VINOD KUMAR.C
For Respondent : No Appearance
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :12/08/2009
O R D E R
P.R. RAMACHANDRA MENON J.
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W.P. (C) No. 22890 of 2009
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Dated, this the 12th day of August, 2009
JUDGMENT
The petitioner who is septuagenarian having crossed the age of
74 years, has been driven to this Court, allegedly because of the
misdeeds committed by his son, who after getting a settlement deed
executed in his favour created security interest over the said property
by depositing the title deed while standing as a surety in respect of a
loan transaction availed by M/s Athira Fast Food belonging to his friend.
2. The petitioner, who belongs to the lower strata of the society,
as revealed from Ext.P3 (BPL ration card) and stated as an illiterate,
came to know the situation, only when he was confronted with the
actual facts and figures by the respondent Bank, pursuant to the steps
taken under the SARFAESI Act, for not clearing the arrears on time.
3. The learned counsel for the petitioner submits that, the son of
the petitioner is no more available in station, having proceeded to the
Gulf in search of some or other employment. Despite the adverse
circumstances, it is stated that, the petitioner is ready and willing to
clear the entire liability by way of regular monthly installments, payable
at the rate Rs.25,000/- till the same is cleared.
4. The learned counsel for the respondent Bank submits that, a
sum of nearly Rs. 1.5 lakh is due as on 31.9.08 with further interest and
costs.
WP (C) No.22890 of 2009
: 2 :
5. Considering the facts and circumstances and also the age and
financial status of the petitioner as revealed from Ext.P3, the petitioner
is permitted to clear the outstanding liability by way of regular monthly
installments at the rate Rs. 25,000/-; the first of which shall be effected
or before the 15th of September, 2009 to be followed by the similar
installments to be effected on or before the 15th of the succeeding
months. Subject to the above, the coercive proceedings stated as
being pursued against the petitioner, shall be kept in abeyance. It is
made clear that, if any default is committed by the petitioner in remitting
the installments as above, the respondent Bank will be at liberty to
proceed against the petitioner for realization of the entire amount in a
lump sum, from the stage where it stands now.
The Writ Petition is disposed of as accordingly.
P. R. RAMACHANDRA MENON, JUDGE
kmd