HIGH COURT OF KERALA
MOHAN M. SHANTANAGOUDAR, CJ, Sathish Ninan, J
SHAJAHAN S. – Appellant
Versus
THE MANAGER, INDIAN OVERSEAS BANK – Respondent
J U D G M E N T
Mohan M. Shantanagoudar, C.J The judgment dated 16.8.2016 passed in W.P.(C) No.24519 of
2016 is called in question in this appeal by the unsuccessful writ petitioner.
2. The appellant's brother, late Sri.Sabu Khan, availed a total overdraft facility of `1,40,00,000/- from the respondent Bank by mortgaging an extent of 4.96 Ares of land along with buildings situated therein. The said loans were transacted well upto his life time. Subsequent to his death, there was default on the part of his legal representative and the guarantor to repay the loans. The appellant/writ petitioner is the guarantor of the loans in question.
In view of the default made in repaying the loans, proceedings were initiated by the respondent Bank by issuing Ext.P8 notice under Section 13(2) of the SARFAESI Act . Questioning the said notice, the appellant approached this Court in the aforesaid writ petition, which came to be disposed of with the following directions :-
W.A. No.1983 of 2016 “(i) Petitioner shall pay the outstanding amount due to the Bank in four equal monthly instalments starting from 30.08.2016.
(ii) In the meantime, it shall be open for the respondent Bank to take appropriate measur
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