SHEELA J Vs. AUTHORISED OFFICER

JUDGEMENT

(1.) THE petitioner had availed a loan of Rs.25 lakhs from the second respondent , creating security interest over the property in question. According to the petitioner, repayment could not be effected on time because of some adverse circumstances, when the account of the petitioner was declared as 'NPA' and the Bank proceeded with steps under the SARFAESI Act, also by filing a petition under Section 14 before the CJM Court , Thrissur as borne by Ext.P1. Pursuant to the said proceedings, Ext.P2 order was passed on 01.06.2012, appointing an Advocate Commissioner to take physical possession of the property, which made the petitioner to approach this Court for immediate interference.

(2.) THE learned Counsel for the petitioner submits that the default was never wilful, but because of some unforeseen circumstances ; and that there is no dispute with regard to the liability. It is also submitted that the petitioner is ready to clear the entire overdue amount, for which some breathing time is sought for by way of reasonable installments.

(3.) THE writ petition is disposed of.