IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
TUESDAY, THE 26TH DAY OF APRIL 2022 / 6TH VAISAKHA, 1944
WP(C) NO. 14627 OF 2022
PETITIONER:
SHAKEELA ABDUL SALAM
AGED 36 YEARS
W/O. ABDUL SALAM,
MANKADAVATH PUTHANVEETTIL HOUSE,
CODACAL P. O.,
MALAPPURAM - 676 108.
BY ADVS.
K. SUJAI SATHIAN
MARY LIYA SABU
VISMAYA VINOD
RESPONDENTS:
1 THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD.,
REPRESENTED BY ITS MANAGER,
KARATHUR BRANCH,
CODACAL P. O.,
MALAPPURAM - 676 108.
2 AUTHORIZED OFFICER UNDER SARFAESI ACT,
THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD.,
KARATHUR BRANCH,
CODACAL P. O.,
MALAPPURAM - 676 108.
SMT. PRINCY XAVIER - GP
SRI. E.S.M KABEER - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.14627 OF 2022
2
JUDGMENT
The petitioner is challenging the recovery proceedings initiated against her under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The petitioner has availed a credit facility from the respondent Bank and consequent to the default committed by the petitioner in repaying the amount, the said account is declared as NPA. Accordingly, recovery proceedings have been initiated which is impugned in this writ petition.
2. The learned Standing Counsel appearing for the Bank submits that as on date, an amount of Rs.22,46,542/- is in arrears. It is submitted by the learned Standing Counsel for the Bank upon instructions, that, they are amenable for granting an WP(C).No.14627 OF 2022 3 opportunity to the petitioner to regularise the loan account by paying the entire installment overdue along with interest in reasonable monthly installments. It is submitted by the learned Standing Counsel that total amount of installment overdue comes to Rs.17,70,964/-.
In such circumstances, this writ petition is disposed of granting an opportunity to the petitioner to regularise the loan account by paying the installment overdue as mentioned above along with interest due thereon in fifteen equal monthly installments commencing from 15th May, 2022 onwards. The subsequent installments shall be paid by the petitioner on 15th day of every month. Along with the aforesaid payment, regular monthly installment shall also be paid. In case of default on the part of the petitioner in payment of any of the installments including regular WP(C).No.14627 OF 2022 4 monthly installments, the aforesaid facility shall stand cancelled, upon which the Bank will be at liberty to proceed with the recovery proceedings. Subject to the above direction, the recovery proceedings against the petitioner is directed to be kept in abeyance.
Sd/-
ZIYAD RAHMAN A.A.
JUDGE SPR WP(C).No.14627 OF 2022 5 APPENDIX PETITIONER'S EXHIBITS:-
EXHIBIT P1 A TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER UNDER RULE 8 SECTION 13(4) OF THE SARFAESI ACT DATED 27.01.2022.
EXHIBIT P2 TRUE COPY OF THE ONE TIME SETTLEMENT
SCHEME NOTICE ISSUED BY THE 1ST
RESPONDENT TO THE PETITIONER DATED 05.02.2022.
EXHIBIT P3 TRUE COPY OF THE PASSBOOK ISSUED BY THE 1ST RESPONDENT BANK TO THE HUSBAND OF THE PETITIONER, ABDUL SALAM, DATED 25.01.2016.
EXHIBIT P4 TRUE COPY OF THE GIFT DEED IN FAVOUR OF THE PETITIONER DATED 11.12.2014. EXHIBIT P5 TRUE COPY OF THE ORDER IN I.A.1126 OF 2018 IN OP 473 OF 2018 DATED 27.12.2021 BY THE HON'BLE FAMILY COURT, TIRUR. EXHIBIT P6 TRUE COPY OF THE TREATMENT CERTIFICATE ISSUED BY DR.SALEEM P.K., PSYCHIATRIST IN 'CENTRE FOR HARMONIOUS LIVING HOSPITAL' IN THE NAME OF THE HUSBAND OF THE PETITIONER DATED 19.12.2021.
RESPONDENTS EXHIBITS: NIL.