K.S.Suresh Pai vs. Authorised Officer - Kerala High Court, 30 March 2021

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A.M.BADAR TUE AY, THE 30TH DAY OF MARCH 2021 / 9TH CHAITHRA, 1943 WP(C).No.6847 OF 2021(E) PETITIONER/S: K.S.SURESH PAI, AGED 55 YEARS S/O SIVANANDA PAI, RESIDING AT KALAPPURAMBATH HOUSE, NEAR ANGADIKADAVU, ALANGAD P.O, ERNAKULAM DISTRICT-683511. BY ADVS. SRI.C.SIVADAS SRI.G.PADMARAJ RESPONDENT/S: 1 AUTHORISED OFFICER, KERALA GRAMIN BANK, REGIONAL OFFICE, ERNAKULAM, COASTAL TOWERS, NEAR SAMSKARA JUNCTION, PIPELINE ROAD, PALARIVATTOM, KOCHI-682025. 2 KERALA GRAMIN BANK, MULAMTHURUTHY BRANCH, PALAI BUILDINGS, MULAMTHURUTHY- 682314, ERNAKULAM DISTRICT. REPRESENTED BY ITS BRANCH MANAGER, SRI.SANTHOSH KUMAR, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No.6847 OF 2021 2 JUDGMENT Dated this the 30th day of March 2021

Heard both sides.

The petitioner had availed financial assistance in the form of Overdraft facility from the respondents. But it is alleged that the business of the petitioner suffered a set back because of demonetization, issues of GST, pandemic Covid-19, so also because of health problems suffered by the petitioner, his hotel was closed. With this, learned counsel appearing for the petitioner submits that petitioner is willing to clear the entire dues payable to the respondents in ten instalments.

Learned Standing Counsel appearing for the respondent submits that the petitioner is liable to pay an amount of about Rs.11,13,630/- to the respondents towards financial assistance availed by him. It is further argued that the respondents have already initiated action under the SARFAESI Act and possession notice at Ext.P3 is also issued.

Considering the facts and circumstances of the instant petition and also as the petitioner is ready and willing to repay the entire amount due and payable to the respondents, the writ

WP(C).No.6847 OF 2021 3 petition is disposed of with the following directions:-

The petitioner is directed to repay the entire outstanding amount due and payable to the respondents in ten equated successive monthly instalments commencing from 05.04.2021. If the petitioner complies with these directions, respondents shall keep the coercive action, initiated against the petitioner under the SARFAESI Act, in abeyance. In case of a single default, the respondents are at liberty to continue the action under the SARFAESI Act initiated against the petitioner. No further extension of time for compliance of this direction shall be granted to the petitioner. A.M.BADAR ajt JUDGE

WP(C).No.6847 OF 2021 4 APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1OF THE DISCHARGE SUMMARY OF THE PETITIONER DATED 12.11.2020 EXHIBIT P2OF THE DEMAND NOTICE DATED 04.02.2019 ISSUED BY THE 1ST RESPONDENT. EXHIBIT P3OF THE POSSESSION NOTICE ISSUED BY 1ST RESPONDENT DATED 29.12.2020. EXHIBIT P4OF THE REQUEST SUBMITTED BY THE PETITIONER DATED 31.12.2020. EXHIBIT P5OF THE REPLY ISSUED BY THE REGIONAL OFFICE DATED 25.01.2021.