GOPINATHAN NAIR Vs. THE BRANCH MANAGER

JUDGEMENT

(1.) Heard the learned counsel for the petitioner and the learned counsel for the respondent Bank, apart from perusing the record.

(2.) The petitioner took a housing loan of Rs.2 lakhs from the respondent bank on 29.5.2009. In the course of time, the petitioner defaulted on the loan repayment, ostensibly, owing to his financial stringency. As a result, the respondent bank initiated proceedings under the SARFAESI Act .

(3.) The learned counsel for the petitioner has submitted that the petitioner, despite his best efforts, could not repay the loan amount because of his stringent financial conditions. Accordingly, the petitioner wants this Court direct the respondent Bank to receive from him the outstanding loan amount in instalments.