IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
THURSDAY, THE 07TH DAY OF JANUARY 2021 / 17TH POUSHA, 1942
WP(C).No.29014 OF 2020(B)
PETITIONER:
JYOTHI REMA K.G.
AGED 56 YEARS
W/O. LATE N.HARIDAS, VIDHYANIKETHAN, T.R.51/195,
PUNNATHALA, PCNRA-25, THIRUMULLAVARAM P.O.,
KOLLAM-691 012.
BY ADV. SRI.B.MOHANLAL
RESPONDENTS:
THE AUTHORIZED OFFICER
KOLLAM CO-OPERATIVE URBAN BANK LIMITED NO.960,
Y.M.C.A. ROAD, CHINNAKKADA, KOLLAM-691 001.
R1 BY ADV. SMT.D.P.RENU
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.29014 OF 2020 2
JUDGMENT
The petitioner assails certain proceedings initiated and being pursued by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act ('the SARFAESI Act' for brevity).
2. I have heard the learned counsel for the petitioner and the learned Counsel for the respondent Bank.
3. When I deal with this writ petition, I am conscious that I am jurisdictionally proscribed from entering into any enquiry or consideration of the legality or otherwise of the orders impugned in this writ petition on account of the imperative statutory provisions and the binding judicial pronouncements, especially that of the Hon'ble Supreme Court in Union Bank of India v. Satyawati Tondon [2010 (8) SCC 110] and in Authorised Officer, State Bank of Travancore and Another v. Mathew K.C. [2018 (1) KLT 784]. I, therefore, cannot and do WP(C).No.29014 OF 2020 3 not propose to consider any of the legal contentions raised by the petitioner on its merits.
4. However, obviously being aware of this, the learned counsel appearing for the petitioner has prayed that notwithstanding the limitations of jurisdiction as aforementioned, the petitioner may be granted some leniency or latitude in order to enable her to pay off the total outstanding amounts in installments.
5. I, therefore, enquired with the learned counsel for the Bank as to whether the request on the part of the petitioner can be allowed, especially on account of the fact that the Banks are only interested in recovering and not in maintaining and keep pending litigations and legal proceedings against such recovery. The learned counsel has fairly submitted that the Bank is concerned about recovery at the earliest and that if the petitioner pays off the total dues quickly, it would be to their interest also.
WP(C).No.29014 OF 2020 4
6. In view of the fact that the proceedings initiated by the Bank would consume time to culminate in total recovery and taking into account the financial constraints and burden that have been alleged and pleaded by the petitioner, I am inclined to dispose of this writ petition allowing her an opportunity to pay off the entire amounts demanded by the Bank.
7. The learned counsel for the Bank at this time submits that the petitioner can be allowed to pay off the total outstanding, which is stated to be Rs.19,62,098/- as on 07/01/2021; and that if the petitioner pays at least 50% of the same by 20/03/2021, the balance amount, along with all other charges and interest, can be allowed to be paid in not more than 5 equal monthly instalments thereafter. She submitted that the Bank is not willing to grant any further lenitude to the petitioner, because the secured assets have already been notified for sale through the WP(C).No.29014 OF 2020 5 impugned proceedings.
8. The learned counsel for the petitioner submitted that his client is agreeable to the above offer made by the Bank and therefore, that the writ petition may be ordered granting permission to the petitioner to pay off the amount in the manner as afore.
9. In such circumstances, I direct the petitioner to pay an amount of Rs.10 Lakhs on or before 20/03/2021; in which event, she will be allowed to pay off the balance outstanding, along with all applicable charges and interest, in 5 equal monthly instalments commencing from 05/04/2021.
10. It goes without saying that if there is any default in making the payment as directed above, the benefit granted under this judgment would stand vacated and the Bank will be at liberty to recover the entire liability from the petitioner by continuing with the proceedings from the stage it is on this date.
11. I make it clear that the WP(C).No.29014 OF 2020 6 directions in this judgment are peremptory in nature and that the petitioner will have to comply with the same meticulously.
This writ petition is ordered
accordingly.
Sd/-
DEVAN RAMACHANDRAN
JUDGE
MC/7.1.2021
WP(C).No.29014 OF 2020 7
APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED 4.9.2017
IN M.C.NO.817/2016 ISSUED BY THE ADVOCATE COMMISSIONER AS PER THE ORDER OF THE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM TO THE PETITIONER.
EXHIBIT P2 THE TRUE COPY OF THE SALE NOTICE IN THE KERALA KAUMUDI DAILY ISSUED BY THE RESPONDENT.
EXHIBIT P3 THE TRUE COPY OF THE ORDER DATED 3.8.2020 IN WPC NO.9400/2020 OF THE FULL BENCH OF THIS HON'BLE COURT.
RESPONDENT'S/S EXHIBITS:
NIL
MC
(TRUE COPY) PA TO JUDGE