IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 17TH DAY OF JUNE 2022 / 27TH JYAISHTA, 1944
WP(C) NO. 19711 OF 2022
PETITIONER:
MARY DAVIS,
AGED 52 YEARS,
W/O. DAVIS,
KAITHATHRA HOUSE,
PALATHURUTH,
CHENDAMANGALAM P.O., PIN 683 512,
PARAVUR TALUK, ERNAKULAM DISTRICT.
BY ADVS.
V.A.PRADEEP KUMAR
ANOOP KRISHNA
RESPONDENTS:
1 BANK OF INDIA,
REP. BY ZONAL MANAGER,
KERALA ZONAL OFFICE,
KALOOR TOWERS,
KADAVANTHARA ROAD,
KALOOR, ERNAKULAM, PIN 682 017.
2 CHIEF MANAGER AND AUTHORISED OFFICER,
BANK OF INDIA,
PARUR MAIN BRANCH,
STAR HOUSE,
NEAR MUNCIPAL JUNCTION,
MAIN ROAD, NORTH PARAVUR,
ERNAKULAM DISTRICT, PIN 683 513.
SRI.K.M.ANEESH, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
17.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C)No.19711/2022
2
JUDGMENT
Dated this the 17th day of June, 2022 The petitioner and her son, who have obtained a housing loan of ₹14 lakhs from the 1st respondent-Bank in the year 2016, are before this Court seeking to consider Ext.P2 and to permit the petitioner to sell the mortgaged property to a third party and to pay the due amount as per One Time Settlement referred in Ext.P1 by paying entire outstanding dues within six months and seeking for a direction that till then the steps pursuant to Ext.P1 be kept in abeyance.
2. The petitioner states that she along with her son availed a housing loan of ₹14 lakhs. A property was WP(C)No.19711/2022 3 mortgaged to settle the loan. The petitioner was prompt in repayment. Subsequently, due to the floods in the year 2018 and 2019 and subsequent Covid-19 pandemic, the petitioner could not make payments promptly. In the meanwhile, the respondents have taken coercive proceedings against the petitioner invoking Section 13(2) of the SARFAESI Act, 2002.
3. The petitioner states that the petitioner proposes to sell off mortgaged property and clear the entire outstanding dues. If the respondents grant some time to the petitioner to sell the property, which is now mortgaged, the entire dues can be cleared.
4. The Standing Counsel entered appearance on behalf of the respondents and resisted the writ petition. The Standing Counsel controverted all the material allegations made by the petitioner in the writ petition. It is pointed out that the total outstanding of the petitioner would be around WP(C)No.19711/2022 4 ₹16,04,526/- and the overdue amount itself comes to ₹4,25,269/-. The petitioner has been deliberately defaulting the repayment. Therefore, the respondents were justified in proceeding under the SARFAESI Act, 2002. Ext.P1 is not liable to be interfered, contended the Standing Counsel.
5. The Standing Counsel, however, submitted that if the petitioner can remit the outstanding amount within a short period, then a breathing time can be granted to the petitioner to remit the said amount in instalments.
6. Having heard the learned counsel for the petitioner and the learned Standing Counsel representing the respondents, this Court is of the view that the petitioner shall be given reasonable time to clear the overdue amount.
7. In the circumstances, the writ petition is disposed of with the following directions:
i) The petitioner shall remit the overdue amount of ₹4,25,269/- along with accruing interest and other charges, WP(C)No.19711/2022 5 if any, in 10 equal consecutive monthly instalments.
ii) If the petitioner remits the instalments as directed above, coercive proceedings pursuant to Ext.P1 shall stand deferred.
iii) If the petitioner commits any default in making such payments, the respondents will be at liberty to proceed against the petitioner in accordance with law.
iv) During the afore period, the petitioner will be free to approach the respondents for One Time Settlement in the matter as per any Scheme of the respondents.
v) The petitioner will be at liberty to seek permission to sell the property for clearing the entire dues.
Sd/-
N. NAGARESH JUDGE SR WP(C)No.19711/2022 6 APPENDIX OF WP(C) 19711/2022 PETITIONER's EXHIBITS:
Exhibit P1 THE TRUE COPY OF THE 13(2) NOTICE DATED 03.04.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.
Exhibit P2 THE TRUE COPY OF THE REPRESENTATION DATED 04.06.2022 SUBMITTED TO THE 2ND RESPONDENT BY THE PETITIONER TO PERMIT TO SELL THE PROPERTY AND TO PAY THE AMOUNT AS PER ONE TIME SETTLEMENT.
SR