SANEESH P.A Vs. KERALA STATE COOPERATIVE BANK

JUDGEMENT

(1.) The petitioner availed a credit facility from the respondent Bank. Repayment of the loan was defaulted, pursuant to which Ext.P2 demand notice was issued by the bank. It is at that stage the petitioner has approached this Court.

(2.) Heard the learned counsel for the petitioner and the learned Standing Counsel for the Bank.

(3.) The learned Standing Counsel for the Bank points out that the term of the loan expires only in the year 2028. As on 20/12/2021, an amount of Rs.7,12,993.00 is overdue in the loan account. Proceedings have also been initiated under the provisions of the SARFAESI Act, he further points out.