Thresiamma George vs The Idukki District Co-Operative … on 14 December, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 8561 of 2009(M)


1. THRESIAMMA GEORGE, AGED 58 YEARS,
                      ...  Petitioner

                        Vs



1. THE IDUKKI DISTRICT CO-OPERATIVE BANK
                       ...       Respondent

2. THE IDUKKI DISTRICT CO-OPERATIVE BANK

3. THE SPECIAL SALE OFFICER,

4. THE STATE OF KERALA REPRESENTED BY

                For Petitioner  :SRI.MATHEW ABRAHAM

                For Respondent  : No Appearance

The Hon'ble MR. Justice S.SIRI JAGAN

 Dated :14/12/2009

 O R D E R
                          S. SIRI JAGAN, J
               ................................................
                   W.P(C) No. 8561 of 2009
               .................................................
        Dated this the 14th day of December, 2009

                          J U D G M E N T

The petitioner is a defaulter in repayment of loan amounts

due to the 2nd respondent bank. The bank has initiated

proceedings under the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act, 2002

for coercive recovery of the loan amount. The petitioner only

wants 45 days time to clear the entire dues. This is opposed by

the counsel for the bank who submits that the petitioner has

been given several opportunities to pay off the amounts due and

the petitioner has not availed of the opportunity. The counsel for

the petitioner promises that if 45 days time is given, the

petitioner would be in a position to repay the entire amounts

due.

2. Having heard both sides, I feel that the 2nd respondent

can give 45 more days’ time to the petitioner to pay off the dues,

before proceeding further in the matter. Accordingly, the writ

petition is disposed of with a direction to the 2nd respondent to

grant the petitioner 45 more days’ time from today to clear of

W.P(C) No. 8561 of 2009 -2-

entire liability due from the petitioner. If the petitioner does not

clear off the liability within 45 days from today, it would be open

to the 2nd respondent to continue the proceedings under the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act as already initiated without

having to issue any fresh notice or proceedings in that regard.

The 2nd respondent shall issue an intimation to the petitioner

showing the exact amount due from the petitioner in respect of

the loan transaction within one week.

sd/-

S. SIRI JAGAN, JUDGE
rhs

// True copy //

PA to Judge