KANCHANA Vs. STATE BANK OF MYSORE

JUDGEMENT

(1.) THE petitioner is before this Court being aggrieved by the steps taken by the respondent Bank under the SARFAESI Act particularly by way of Ext.P3 which is the order passed by the CJM Court Palakkad in a petition filed under Section 14 of the SARFAESI Act for taking physical possession of the property.

(2.) THE petitioner, along with her husband, availed a housing loan from the respondent Bank creating security interest over the property in question. But since the repayment could not be effected as scheduled, the Bank proceeded with steps, when the husband approached this Court by challenging the same by filing W.P.(C).No.33124/2011. It was submitted before the Court that the petitioner therein did not intend to challenge the proceedings and that the only relief sought for was to permit the petitioner to clear the liability by way of regular instalments. It was after considering the said prayer that the matter was disposed of by Ext.P2 judgment dated 16.12.2011, enabling the petitioner therein to have the loan account regularized on satisfying the 'overdue' amount by way of two equal monthly instalments, with a rider that the future regular instalments shall be cleared without fail. This Court also incorporated a default clause, observing that, if at all any default was committed in satisfying the due payment as above, it would be open for the respondent Bank to proceed with further steps without any fresh notice or fresh proceedings.

(3.) IN the said circumstances, interference is declined and the writ petition is dismissed accordingly; without prejudice to other appropriate remedies.