Muhammed Rashid Vaniya Peediyekkal vs. Axis Bank LTD
Held
The Court dismissed the writ petition, noting that the petitioner failed to comply with an interim order to pay an amount of Rs. 3 lakhs. Since the petitioner could not even make the directed part payment, the Court found him not entitled to further relief.
Facts
The petitioner, a GST-registered proprietor, defaulted on a loan with Axis Bank, leading to coercive measures under the SARFAESI Act. He sought High Court intervention to permit payment of defaulted arrears in 20 monthly instalments and restrain the bank from taking physical possession of his vehicles.
Key Issues
The key legal issue was whether the High Court should grant instalment relief to a loan defaulter under SARFAESI proceedings, especially when the petitioner failed to comply with an interim payment direction.
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH MONDAY, THE 18TH DAY OF DECEMBER 2023 / 27TH AGRAHAYANA, 1945 WP(C) NO. 33137 OF 2023 PETITIONER: MUHAMMED RASHID VANIYA PEEDIYEKKAL, AGED 37 YEARS S/O KUNHEEN HAJI, PROPRIETOR, SHREELA PACKS, 12/387, KULUKKALLUR, PATTAMBI, PALAKKAD – 679337 BY ADVS. SNEHA M.S. ABHIJITH E.R. RESPONDENTS: 1 AXIS BANK LTD, NO.3/637C, PERINTHALMANNA ROAD, MELEPATTAMBI, PALAKKAD, KERALA, PIN - 679306, REPRESENTED BY ITS AUTHORISED OFFICER (APPOINTED UNDER THE SARFAESI ACT) 2 THE AUTHORISED OFFICER (APPOINTED UNDER THE SARFAESI ACT), AXIS BANK LTD, NO. 3/637C, PERINTHALMANNA ROAD, MELEPATTAMBI, PALAKKAD, KERALA, PIN – 679306. SRI.PRADEESH CHACKO THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) No.33137 of 2023 2 JUDGMENT Dated this the 18th day of December, 2023 The petitioner has approached this Court seeking the following reliefs: “(i) Issue a writ of mandamus or any other appropriate writ, direction or order permitting the petitioner to clear the defaulted arrears in 20 monthly instalment
The judgment continues below.
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