V.KRISHNANKUTTY Vs. MAHINDRA RURAL HOUSING FINANCE LTD

JUDGEMENT

(1.) Admit. Standing Counsel takes notice for the respondents.

(2.) The prayer in the writ petition is to permit the petitioner to pay off the defaulted amounts in easy instalments. The petitioner prays that he may be permitted to approach the bank with a proposal to pay back the amounts and to stay the proceedings for recovery till the bank considers the said request. At present, the bank has only issued a notice under Sec. 13(2) of the SARFAESI Act.

(3.) In the above circumstances, this writ petition is disposed of directing the petitioner to approach the bank with a proposal for the payment of amounts within one week from today and on receipt of such request, the bank shall consider the same and pass order and intimate the petitioner within ten days therefrom.