Kerala High Court
WP(C)/38232/2008 of YESUDASAN Vs TVM DISTRICT CO-OP.BANK LTD on 30 December 2008
HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH DECEMBER 2008 / 9TH POUSHA 1930 WP(C).No. 38232 of 2008(B) -------------------------- PETITIONER(S): --------------- YESUDASAN, KATTUVILA PUTHEN VEEDU, THOONGAMPPARA, KULATHUMMEL
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN
TUESDAY, THE 30TH DECEMBER 2008 / 9TH POUSHA 1930
WP(C).No. 38232 of 2008(B)
--------------------------
PETITIONER(S):
---------------
YESUDASAN, KATTUVILA PUTHEN VEEDU,
THOONGAMPPARA, KULATHUMMEL VILLAGE,
NEYYATTINKARA TALUK, THIRUVANANTHAPURAM DISTRICT.
BY ADV. SRI.SAIJO HASSAN
SRI.SABU SREEDHARAN
RESPONDENT(S):
---------------
1. THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE
BANK, HEAD OFFICE, FORT, THIRUVANANTHAPRUAM, REPRESENTED BY ITS GENERAL MANAGER.
2. THE AUTHORISED OFFICER,
THIRUVNANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD
OFFICE FORT, THIRUVANANTHAPURAM.
3. THE BRANCH MANAGER, THIRUVANANTHAPURAM
DISTRICT CO-OPERATIVE BANK, KATTAKKADA BRANCH
KATTAKKADA, THIRUVANANTHAPURAM.
BY ADV.SRI.K.G.RADHAKRISHNAN, S.C.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 30/12/2008, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
THOTTATHIL B.RADHAKRISHNAN, J.
------------------------------------------- W.P(C).No.38232 OF 2008
------------------------------------------- Dated this the 30[th] day of December, 2008
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JUDGMENT
The petitioner availed a loan from the first respondentbank and defaulted repayment. He was issued with noticeunder Section 13 (2) of the SARFAESI Act in November,2007. On default, proceedings were initiated under Section13(4). The petitioner challenges it. The total outstandingsby now would be around Rs.2 lakhs. Taking that intoconsideration, I am inclined to accept the request of thepetitioner that he may be permitted to pay off theoutstandings in instalments, particularly when he does notprays any other contention. Recording that submission, it isdirected that if the petitioner pays an amount of Rs.35,000/-within three weeks and continues to deposit amounts at therate of Rs.15,000/- per month, payable on or before the lastworking day of every month commencing from February WPC.38232/08
2009, the impugned proceedings will stand suspended andultimately dropped. However, if there is default inremitting any of the amounts as aforesaid, the benefit ofthis judgment will stand recalled automatically and distressaction will follow. The writ petition is ordered accordingly.
Sd/-
kkb.
THOTTATHIL B.RADHAKRISHNAN,Judge.