Anil Kumar vs Uco Bank on 27 February, 2008

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 6820 of 2008(J)


1. ANIL KUMAR, AGED 36 YEARS
                      ...  Petitioner
2. MRS. BINDU, AGED 35 YEARS

                        Vs



1. UCO BANK,REPRESENTED BY BRANCH MANAGER
                       ...       Respondent

2. AUTHORISED OFFICER

                For Petitioner  :SRI.P.V.GEORGE(PUTHIYIDAM)

                For Respondent  : No Appearance

The Hon'ble MR. Justice ANTONY DOMINIC

 Dated :27/02/2008

 O R D E R
                          ANTONY DOMINIC, J.

                 = =W.P.(C) = = = = = = = = = = =
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                              No. 6820 OF 2008 J
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                 Dated this the 27th February, 2008

                             J U D G M E N T

In this writ petition, petitioners submit that they had availed of

a housing loan from the respondents. Even according to the

petitioners, about Rs.86,000/- is already in default and the bank

has initiated proceedings under the Securitization and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002. It is also submitted that the properties were put

up for sale on 29.2.2008. Counsel for the petitioners offers that the

petitioners are willing to pay off the entire amount in default before

29.2.2008 and that the balance amount due will also be paid in 12

equal monthly instalments.

2. I heard the Standing Counsel for the bank also.

3. Having regard to the submissions made by both sides I

dispose of this writ petition with the following directions:

1) That before 11 0′ clock on 29.2.2008 the petitioner shall

W.P.(C) No. 6820 OF 2008 -2-

deposit the entire amount now in default, subject to remittance as

above, further action against the petitioners will stand deferred.

The balance amount due from the petitioners will be permitted to be

paid in 12 equal monthly instalments the first of which will be

payable in the first week of April, 2008 and the subsequent

instalments will be payable in the 1st week of every succeeding

month. It is clarified that if any of the conditions are defaulted the

bank will be free to continue the action that is already initiated. If

the first payment is made on 29.2.2008 within two weeks thereafter,

the bank will furnish the petitioners a statement of their dues.

ANTONY DOMINIC
JUDGE
jan/-