T. JOSEPH Vs. BANK OF BARODA

JUDGEMENT

(1.) HEARD the learned counsel for the petitioner and the learned standing counsel for the respondents. It appears that a loan was availed of from the respondent Bank for the overseas studies of the petitioner's son Sri. Ajai Joseph. To that loan, apart from Sri. Ajai Joseph, petitioner, the father, is also a co -obligant. Default was committed and finally Bank issued Ext.P5 demand notice informing that in the event of continued non payment, SARFAESI proceedings will be initiated. It is at that stage this writ petition is filed and the prayer made is to direct that the loan be regularised so that the balance liability due can be paid as per the loan agreement.

(2.) AS at present, all that has been issued to the petitioner is Ext.P5, which is only a demand notice and the request of the petitioner is to regularise the loan. Such a request of the petitioner can be considered only if the defaulted dues are paid.