IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
WP(C) NO. 14315 OF 2022
PETITIONER/S:
MOHAMMED AJI B.
AGED 52 YEARS
S/O.BASHEER M., JAHIM MANZIL, KUTTICHAL,
MANNOORKARA P.O., THIRUVANANTHAPURAM DISTRICT,
PIN - 689 574.
BY ADV G.SUDHEER
RESPONDENT/S:
STATE BANK OF INDIA
REPRESENTED BY ITS AUTHORIZED OFFICER, RACPC-2,
1ST FLOOR, CHANDRASEKHARAN NAIR, STADIUM
COMPLEX, PALAYAM, THIRUVANANTHAPURAM, PIN - 695
033.
ADV.JITHESH MENON, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 29.04.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.14315/2022
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JUDGMENT
The petitioner has availed a housing loan for Rs.65,00,000/- from the respondent bank in the year 2015 by creating equitable mortgage by depositing the title deed of his residential property. Due to the difficulties caused, repayments were not made in time and the same led to proceedings for recovery against the petitioner.
2. The limited prayer of the petitioner in this writ petition is to grant instalment facility to pay the overdue amounts and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding overdue as on today is Rs.7,54,764/- (Rupees seven lakh fifty four thousand seven hundred and sixty four only). WP(C) No.14315/2022 ..3..
4. Taking into account the averments in the writ petition and after hearing the learned counsel on either side, I deem it appropriate to grant 10 equal monthly instalment facility to the petitioners to wipe off the overdue amounts due to the respondent bank.
5. In the said circumstances, this writ petition is disposed of permitting the petitioner to clear off the overdue amounts due to the respondent bank in 10 equal monthly instalments starting from 25.05.2022. The petitioner will also be liable to pay the applicable EMI with the accrued interest, if any, continuously over and above the instalments to pay off the overdue amounts.
6. It is made clear that if there are two defaults committed in paying the instalments at any time, the petitioner will lose the benefit of this order and the respondent bank will be at liberty to proceed against the WP(C) No.14315/2022 ..4..
petitioner on the basis of the recovery proceedings already initiated. The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P.
JUDGE bka/30.04.2022 WP(C) No.14315/2022 ..5..
APPENDIX OF WP(C) 14315/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE UNDER SECTION 13(4) OF THE ACT AND RULE 8(1) OF SECURITY INTEREST (ENFORCEMENT) RULES 2002 DTD. 4/4/2022.