Puthukkudi Mumthas Laila vs Nilambur Co-Operative Urban Bank … on 12 January, 2010

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 34514 of 2009(H)


1. PUTHUKKUDI MUMTHAS LAILA,
                      ...  Petitioner

                        Vs



1. NILAMBUR CO-OPERATIVE URBAN BANK LTD.,
                       ...       Respondent

2. THE AUTHORISED OFFICER,

                For Petitioner  :SRI.T.K.AJITH KUMAR

                For Respondent  : No Appearance

The Hon'ble MR. Justice P.R.RAMACHANDRA MENON

 Dated :12/01/2010

 O R D E R
                   P.R.RAMACHANDRA MENON, J
                 -----------------------------
                   W.P(C) No.34514 of 2009 -H
                 ------------------------------
              Dated this the 12th day of January, 2010.

                        J U D G M E N T

Challenging the steps taken by the respondent bank for

realisation of the due amount under the loan transaction availed by

the petitioner under the SARFAESI Act, the petitioner has

approached this Court by filing this Writ Petition. The coercive steps

were intercepted by this Court as per interim order dated 1.2.2009;

subject to the condition that the petitioner remitted a sum of

Rs.50,000/- on or before 11.12.2009. Subsequently, the petitioner

filed I.A.No.16231 of 2009 seeking for extension of time by two

weeks from the date of the petition ie. 17.12.2009. It appears that

the petitioner did not comply with the direction even within the

extended time and now, the petitioner has filed yet another I.A as

I.A.No.16382 of 2009 seeking for identical relief as prayed for in the

former I.A.

2. The learned counsel appearing for the bank submits that

huge amounts are due from the petitioner and his attempt only to

protract the matter, evading the payment.

W.P(C) No.34514 of 2009 -H 2

3. The learned counsel for the petitioner submits that the

petitioner has made some alternate arrangements to raise funds

from some other sources and that the entire liability to the bank will

be cleared within the shortest possible time.

4. After hearing the submissions made by both the sides,

this Court finds that the matter could be disposed of, permitting the

petitioner to clear the entire liability by way of ‘four’ equal monthly

instalments. Accordingly, the petitioner is directed to pay the first

instalment on or before 31.1.2010; followed by similar instalments

to be effected on or before the 25th of the succeeding months. It is

also made clear if any default is committed by the petitioner, the

respondent bank will be at liberty to proceed against the petitioner

for realisation of the entire amount in a lump sum, for the stage

where it stands now.

The Writ Petition is disposed of accordingly.

Sd/-

P.R.RAMACHANDRA MENON
JUDGE

//True Copy//

P.A to Judge

ab

W.P(C) No.34514 of 2009 -H 3