T MADHUSOODHANAN PILLAI Vs. AUTHORIZED OFFICER

JUDGEMENT

(1.) THE petitioner is stated as aggrieved of the steps taken by the respondent Bank by resorting to the remedy under the SARFAESI Act for realisation of the amount due under a loan transaction.

(2.) THE case of the petitioner is that, the default was never wilful, but because of some unforeseen circumstances, particularly, in view of the various ailments and frequent hospitalisation as borne out by the records produced before this Court as Exts.P1 to P4. The learned counsel for the petitioner submits that there is absolutely no dispute whatsoever with regard to the liability or as to the rights and liberties of the Bank in proceeding with the steps under the SARFAESI Act and the relief pressed before this Court is to permit the petitioner to clear the liability in a phased manner.