DEEPU S Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.

(2.) Petitioner had taken a loan for Rs.12,00,000/-from the Kadavoor branch of the respondent Bank. The petitioner could not repay the monthly instalments in time on account of certain financial difficulties. In the meantime, proceedings had been taken by the respondent Bank under the SARFAESI Act.

(3.) Learned counsel for the petitioner submits that the petitioner is ready and willing to pay the entire amount in instalments if some time is granted.