IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 34013 of 2008(Y)
1. SMT.S.JASEENA, NAJATH, NCC ROAD,
... Petitioner
Vs
1. THE AUTHORISED OFFICER, CHIEF MANAGER
... Respondent
2. THE MANAGER, STATE BANK OF
For Petitioner :SRI.P.J.MATHEW
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :24/11/2008
O R D E R
THOTTATHIL B.RADHAKRISHNAN, J.
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W.P(C).No.34013 OF 2008
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Dated this the 24th day of November, 2008
JUDGMENT
Heard learned counsel for parties. I do not find any error
of jurisdiction or legal infirmity in the impugned proceedings.
The petitioner availed a cash-credit facility and defaulted
repayment. The account got classified as an NPA and
proceedings were initiated under Section 13 of the SARFAESI
Act. In October, 2007, the total accruals was around Rs.3.40
lakhs. No amount was paid. The petitioner states that
appropriate notice was not issued though the change of address
was notified to the bank. Learned counsel for the bank states
that the petitioner, after availing the cash-credit facility for
business purpose, left India even without informing the bank.
Whatever that be, the total outstandings have accrued and by
now, the amount would be around Rs.4 lakhs. Under such
circumstances, repelling all contentions and affirming the
proceedings, and precluding the petitioner and her husband
from challenging the impugned proceedings before any other
WPC.34013/08
Page numbers
Tribunal or court, this writ petition is ordered recording the
submission that the petitioner may be granted facility to repay
the outstandings in instalments, that if the petitioner deposits
an amount of Rs.1.50 lakhs within four weeks and continues to
remit amounts at the rate of Rs.25,000/- per month, payable on
or before the last working day of every month commencing from
January, 2009, the impugned distress action will be deferred and
ultimately dropped. However, if there is default in remitting any
of the amounts as aforesaid, the benefit of this judgment shall
stand recalled automatically and distress action shall follow.
Sd/-
THOTTATHIL B.RADHAKRISHNAN,
Judge.
kkb.