{"id":217684,"date":"2006-08-29T00:00:00","date_gmt":"2006-08-28T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/siby-joseph-vs-canara-bank-on-29-august-2006"},"modified":"2014-02-14T23:24:39","modified_gmt":"2014-02-14T17:54:39","slug":"siby-joseph-vs-canara-bank-on-29-august-2006","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/siby-joseph-vs-canara-bank-on-29-august-2006","title":{"rendered":"Siby Joseph vs Canara Bank on 29 August, 2006"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">Siby Joseph vs Canara Bank on 29 August, 2006<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C) No. 22921 of 2006(D)\n\n\n1. SIBY JOSEPH, AGED 40 YEARS,\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. CANARA BANK, IRITTY BRANCH,\n                       ...       Respondent\n\n2. AUTHORISED OFFICER, CANARA BANK,\n\n                For Petitioner  :SRI.M.RAMESH CHANDER\n\n                For Respondent  :SRI.V.B.HARI NARAYANAN\n\nThe Hon'ble MR. Justice S.SIRI JAGAN\n\n Dated :29\/08\/2006\n\n O R D E R\n                                 S. SIRI JAGAN\n                                 --------------------\n                      W.P.(C) NO. 22921 OF 2006 D\n                         -------------------------------------\n                Dated this the 29th  day of August, 2006\n\n\n                                J U D G M E N T\n<\/pre>\n<p>       The petitioner defaulted repayment of loan amount taken from the<\/p>\n<p>1st  respondent   Bank.     Proceedings   under   the   Securitisation   and<\/p>\n<p>Reconstruction of Financial Assets and Enforcement of Security Interest<\/p>\n<p>Act were initiated by the Bank which culminated in Ext.P3 notice for sale<\/p>\n<p>of   the   security   interest.     The   petitioner   is   challenging   the   said<\/p>\n<p>proceedings.   The contention is that the Act itself expressly excludes<\/p>\n<p>agricultural land from the purview of the proceedings under the Act and<\/p>\n<p>since   the   petitioner&#8217;s   land   is   agricultural   land,   the   proceedings   now<\/p>\n<p>initiated are unsustainable.\n<\/p>\n<\/p>\n<p>       2.     The learned counsel appearing for the respondents would<\/p>\n<p>submit   that   the   land   is   not   agricultural   land   as   contended   by   the<\/p>\n<p>petitioner. I am not inclined to go into the merits of these contentions in<\/p>\n<p>view of the order I proposes to pass in this writ petition.  The petitioner<\/p>\n<p>is prepared to pay all the amounts, but he wants time to raise funds for<\/p>\n<p>the   same.         In     the     above     circumstances,   I   feel   that   the   some<\/p>\n<p>accommodation  can  be  granted  to  the  petitioner  in  the  matter  of<\/p>\n<p>W.P.(C) NO. 22921 OF 2006 D<\/p>\n<p><span class=\"hidden_text\">                                           (2)<\/span><\/p>\n<p>repayment in instalments.  Accordingly the writ petition is disposed of on<\/p>\n<p>the   following   terms.     The   petitioner   shall   pay   an   amount   of<\/p>\n<p>Rs.   4,00,000\/-   within   six   weeks   from   today   and   also   file   a   suitable<\/p>\n<p>representation before the 1st respondent seeking permission to pay the<\/p>\n<p>balance amount in instalments.   If the petitioner pays the above said<\/p>\n<p>amount and files a representation as directed above, the 1st respondent<\/p>\n<p>shall   consider   the   same   and   pass   appropriate   orders   thereon   in<\/p>\n<p>accordance with the Bank&#8217;s policy.  If the petitioner compliance with the<\/p>\n<p>above directions, further proceedings pursuant to Ext.P3 would stand<\/p>\n<p>stayed.  However, if the petitioner commits default in payment as above,<\/p>\n<p>the respondents would be free to continue the proceedings pursuant to<\/p>\n<p>Ext.P3 without having to issue any fresh notice of proceedings in that<\/p>\n<p>regard.\n<\/p>\n<\/p>\n<p>       This writ petition is disposed of as above.\n<\/p>\n<p>\n      (S.SIRI JAGAN, JUDGE)<\/p>\n<p>jg<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court Siby Joseph vs Canara Bank on 29 August, 2006 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C) No. 22921 of 2006(D) 1. SIBY JOSEPH, AGED 40 YEARS, &#8230; Petitioner Vs 1. CANARA BANK, IRITTY BRANCH, &#8230; Respondent 2. AUTHORISED OFFICER, CANARA BANK, For Petitioner :SRI.M.RAMESH CHANDER For Respondent :SRI.V.B.HARI NARAYANAN The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-217684","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Siby Joseph vs Canara Bank on 29 August, 2006 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/siby-joseph-vs-canara-bank-on-29-august-2006\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Siby Joseph vs Canara Bank on 29 August, 2006 - Free Judgements of Supreme Court &amp; 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