{"id":55793,"date":"2010-08-30T00:00:00","date_gmt":"2010-08-29T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/antony-sebastian-vs-bank-of-india-on-30-august-2010"},"modified":"2014-04-23T08:18:03","modified_gmt":"2014-04-23T02:48:03","slug":"antony-sebastian-vs-bank-of-india-on-30-august-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/antony-sebastian-vs-bank-of-india-on-30-august-2010","title":{"rendered":"Antony Sebastian vs Bank Of India on 30 August, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">Antony Sebastian vs Bank Of India on 30 August, 2010<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 26869 of 2010(G)\n\n\n1. ANTONY SEBASTIAN, AGED 77 YEARS,\n                      ...  Petitioner\n2. SURAJ SEBASTIAN, AGED 39 YEARS,\n\n                        Vs\n\n\n\n1. BANK OF INDIA, REP. BY THE MANAGER,\n                       ...       Respondent\n\n2. CHIEF MANAGER AND AUTHORIZED OFFICER,\n\n                For Petitioner  :SRI.A.T.ANILKUMAR\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice C.K.ABDUL REHIM\n\n Dated :30\/08\/2010\n\n O R D E R\n                          C.K.ABDUL REHIM, J\n                   ---------------------------\n                      W.P(C) No.26869 of 2010-G\n                   ----------------------------\n              Dated this the 30th day of August, 2010.\n\n                            J U D G M E N T\n<\/pre>\n<p>      1.   Challenge in this Writ Petition is against Exts.P1 and P2<\/p>\n<p>notices issued under Section 13(2) of the Securitization and<\/p>\n<p>Reconstruction of Financial Assets and Enforcement of Security<\/p>\n<p>Interest Act, 2002 (SARFAESI Act). The petitioners, having defaulted<\/p>\n<p>repayment of the loan availed from the respondent, has now been<\/p>\n<p>proceeded against for taking over possession of the secured assets.<\/p>\n<p>According to the petitioners the property, which is the secured asset<\/p>\n<p>has already been agremented for sale, as evident from Ext.P3, and<\/p>\n<p>that they need only some time to pay off the liability.<\/p>\n<p>      2.   Learned Standing Counsel appearing for respondents<\/p>\n<p>disputed genuineness of Ext.P3, contending that the purchaser has<\/p>\n<p>not come forward with any concrete proposal or had undertaken for<\/p>\n<p>payment of the amounts due.\n<\/p>\n<p>      3.    It is noticed that the proceedings are only at the stage of<\/p>\n<p>Section 13(2) notice. The petitioners are at liberty to object such<\/p>\n<p><span class=\"hidden_text\">W.P(C) No.26869 of 2010-G            2<\/span><\/p>\n<p>notice and further to seek appellate remedy available under the<\/p>\n<p>statute.     Therefore I am not inclined to interfere with the<\/p>\n<p>proceedings in this jurisdiction.\n<\/p>\n<p>       4.    However, learned counsel appearing for the petitioners<\/p>\n<p>made a fervent appeal to permit payment of the entire arrears<\/p>\n<p>within a reasonable time in instalments. Eventhough the learned<\/p>\n<p>counsel for the respondent Bank opposed the prayer, having<\/p>\n<p>considered totality of circumstances attendant in this case, I am<\/p>\n<p>inclined to show indulgence in permitting the petitioners to pay off<\/p>\n<p>the entire liability in instalments.\n<\/p>\n<p>       5.    In the result, the writ petition is disposed of directing the<\/p>\n<p>respondents to keep further steps pursuant to Exts.P1 and P2<\/p>\n<p>notices in abeyance, on condition of the petitioners remitting the<\/p>\n<p>entire arrears due, in 5 (five) equal monthly instalments falling due<\/p>\n<p>on or before 15.9.2010 and on or before the 15th day of every<\/p>\n<p>succeeding months.\n<\/p>\n<p>       6.    It is made clear that on the event of default in payment<\/p>\n<p>of any of the instalments as stipulated above, the respondents will<\/p>\n<p>be free to proceed with further steps. It is further made clear that<\/p>\n<p>the above indulgence will be subject to the condition that the<\/p>\n<p><span class=\"hidden_text\">W.P(C) No.26869 of 2010-G      3<\/span><\/p>\n<p>petitioners are precluded from raising any subsequent challenge<\/p>\n<p>against such proceedings either before this Court or before any<\/p>\n<p>other forum.\n<\/p>\n<\/p>\n<p>                               C.K.ABDUL REHIM<br \/>\n                                     JUDGE<\/p>\n<p>ab<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court Antony Sebastian vs Bank Of India on 30 August, 2010 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 26869 of 2010(G) 1. ANTONY SEBASTIAN, AGED 77 YEARS, &#8230; Petitioner 2. SURAJ SEBASTIAN, AGED 39 YEARS, Vs 1. BANK OF INDIA, REP. BY THE MANAGER, &#8230; Respondent 2. CHIEF MANAGER AND AUTHORIZED [&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-55793","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>Antony Sebastian vs Bank Of India on 30 August, 2010 - 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\/antony-sebastian-vs-bank-of-india-on-30-august-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antony Sebastian vs Bank Of India on 30 August, 2010 - Free Judgements of Supreme Court &amp; 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