IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 28656 of 2008(J)
1. M.K.ALI, S/O.MOHAMMED HAJI,
... Petitioner
Vs
1. FEDERAL BANK LTD., REP. BY
... Respondent
2. AUTHORISED OFFICER, FEDERAL BANK LTD.
3. MANAGER, FEDERAL BANK LTD.,
For Petitioner :SRI.AVM.SALAHUDIN
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :26/09/2008
O R D E R
THOTTATHIL B. RADHAKRISHNAN, J.
------------------------------------------------------------------------
W.P.(C) NO.28656 OF 2008 (J)
------------------------------------------------------------------------
Dated this the 26th day of September, 2008
J U D G M E N T
Having regard to the nature of the orders being issued
hereunder, notice to respondents is dispensed with, preserving
their right to move for review of this judgment, if aggrieved.
2. The petitioner challenged Exhibit P2 proceedings whereby
notice was issued under Section 13(2) of the SARFAESI Act. The
transaction is admitted. The default is not in dispute. The
accruals have given the cause of action for the impugned action.
With that in view, there is no jurisdictional error or legal
infirmity in the impugned proceedings.
3. The learned counsel for the petitioner submitted that if
Exhibit P3 is considered, the petitioner would be given certain
concessions by the bank and that his client is ready to pay off the
outstandings, if he is given 6 to 8 months’ time. I am not
impressed to hold that the bank has to delay the recovery
proceedings so long.
W.P.(C) No.28656/2008
– 2 –
Having regard to the transaction, with the Government and
the fact that as on 01-08-2008 the total outstandings was
Rs.8,62,739/-, to be recovered with accruals and expenditure,
this writ petition is ordered directing that if the petitioner remits
amounts at the rate of Rs.2 lakhs per month, payable on or
before the 20th day of every month commencing from October,
2008, the respondents will consider whether any relief could be
granted on the basis of the petitioner’s request in Exhibit P3 on
petitioner remitting a total amount of Rs.6 lakhs following the
schedule, as stated above. If there is default in remitting any of
the instalments as afore-directed, the benefit of this judgment
shall stand recalled automatically and the respondents will be at
liberty to forthwith proceed with further recovery action. All
other questions stand answered against the petitioner.
Sd/-
THOTTATHIL B. RADHAKRISHNAN,
JUDGE
skr/29/9
// True copy //
P.A. to Judge.