IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 8648 of 2009(A)
1. JAYAKUMAR,AGED 48 YEARS,
... Petitioner
Vs
1. THE AUTHORIZED OFFICER, CHIEF
... Respondent
For Petitioner :SRI.T.A.UNNIKRISHNAN
For Respondent :SRI.K.S.DILIP
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :06/04/2009
O R D E R
THOTTATHIL B.RADHAKRISHNAN, J.
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W.P(C).No.8648 OF 2009
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Dated this the 6th day of April, 2009
JUDGMENT
The petitioner, now aged 48 years going by the affidavit, is
an ex-service man. He availed a loan in connection with an
activity in hollow bricks. The loan was not repaid. The bank
filed a suit and obtained a decree. On the strength of that
decree, the bank has initiated action under the SARFESI Act.
There is no jurisdictional error or legal infirmity in the impugned
proceedings. Since the amount due is in terms of the decree, the
quantification of the amount sought to be recovered under the
SARFESI Act is beyond challenge. The total accruals by now is
around Rupees Five Lakhs. In terms of the interim orders, an
amount of Rs.50,000/- has been paid. Taking that also into
consideration, it is directed that if the petitioner remits amounts
at the rate of Rs.50,000/- per month, payable on or before the
10th of every month commencing from May, 2009, the impugned
distress action will be deferred and ultimately dropped.
However, if there is default in remitting any of the instalments as
WPC.8648/09
Page numbers
aforesaid, the benefit of this judgment will stand recalled
automatically and distress action will follow. The writ petition is
ordered accordingly.
Sd/-
THOTTATHIL B.RADHAKRISHNAN,
Judge.
kkb.8/4.