S.SURESH KUMAR Vs. INDIAN BANK

JUDGEMENT

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

(2.) Petitioner's father late Sreedharan Vaidyan had taken a loan for Rs.1,97,522/-. Petitioner was the guarantor to the loan. The petitioner's father 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.