IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 28788 of 2008(B)
1. SURESH.V.A, KARIVELIL HOUSE,
... Petitioner
Vs
1. THE CHIEF MANAGER (ADVANCES),
... Respondent
2. THE BRANCH MANAGER,
For Petitioner :SMT.K.A.ANGEL TREENA
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :15/10/2008
O R D E R
THOTTATHIL B.RADHAKRISHNAN, J.
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W.P(C).No.28788 OF 2008 &
I.A.NO.12932 OF 2008
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Dated this the 15th day of October, 2008
JUDGMENT
The petitioner availed a loan for housing purpose and also a
demand loan from the second respondent and created security
interest over 2 cents of land and a residential building thereon.
Through Exts.P1 and P1(a), the petitioner demonstrates that he
had been paying the loan quite diligently and states that later,
his mother fell ill due to cardiac arrest and resultantly, he, being
a Shauffeur in the Tourism Department, could not repay the
entire outstandings as he has also to support his wife and two
children. He, therefore, pleads that he may be granted a
protective order from further action under the SARFAESI Act.
2. Having found that there is no jurisdictional error or legal
infirmity in the impugned proceedings, including those under
Section 14, learned counsel for the petitioner states that his
client gives up all contentions and his right to move the Debts
Recovery Tribunal or other tribunals, courts or authorities
WPC.28788/08
Page numbers
against the impugned proceedings and pleads that the petitioner
may be granted a last opportunity to pay off the entire
outstandings in six months. This obviously is not acceptable to
the Bank since SARFAESI Act proceedings were initiated in
February, 2008 and the petitioner has paid only an amount of
Rs.10,000/- following the interim order dated 26.9.2008, instead
of Rs.50,000/- ordered thereby. He has also filed I.A.
No.12932/08 seeking enlargement of time to comply with that
condition. It is also pointed out that the petitioner had paid a
further amount of Rs.25,000/- as per Exts.P1 and P1(a).
Obviously, that was before the proceedings were initiated.
Having regard to the totality of the facts and
circumstances, repelling all other contentions, this writ petition
is ordered directing that the impugned distress action shall stand
deferred if the petitioner remits the entire outstandings in 5
equal monthly instalments, payable on or before the 5th of every
month commencing from November, 2008. However, if there is
default in remitting any of the instalments as aforesaid, the
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benefit of this judgment shall stand recalled automatically and
distress action shall follow.
The writ petition and the I.A. are disposed of accordingly.
Sd/-
THOTTATHIL B.RADHAKRISHNAN,
Judge
kkb.