SAJIL. V.B. Vs. UCO BANK

JUDGEMENT

(1.) THE petitioner challenging recovery proceedings initiated by the respondent Bank under the SARFAESI Act.

(2.) THE petitioner admits that, he was earlier before this Court and had filed a writ petition in which instalments were granted.

(3.) THE learned counsel for the respondent Bank hands over the judgment dated 11.05.2012, in which this Court has specifically directed the entire liability to be cleared in six equal monthly instalments and had also directed recovery steps to be revived on petitioner making two consecutive defaults. The petitioner did not comply with the conditions in the said order. The petitioner then invoked the statutory remedy, under the SARFAESI Act and approached the DRT with a securitisation application. In the securitisation application an order was passed as evidenced in Ext.P3, wherein certain instalments were directed to be made. The petitioner did not make the payments as directed by the DRT, even within the time granted in Ext.P4 or in the extended period.