IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 23RD DAY OF JUNE 2022 / 2ND ASHADHA, 1944
WP(C) NO. 19106 OF 2022
PETITIONERS:
1 USHA THOMAS
AGED 57 YEARS
W/O. THOMAS VARGHESE, THALIANICKAL, MAKKAPUZHA P.O.,
RANNI, PLACHERY, PATHANAMTHITTA,PIN-689 676
2 THOMAS VARGHESE,
AGED 60 YEARS
S/O. VARGHESE, THALIANICKAL, MAKKAPUZHA P.O., RANNI,
PLACHERY, PATHANAMTHITTA,PIN-689 676
BY ADVS.
P.HARIDAS
P.C.SHIJIN
SHIJIMOL M.MATHEW
BIJU HARIHARAN
RISHIKESH HARIDAS
RESPONDENTS:
1 UNION BANK OF INDIA
REPRESENTED BY ITS AUTHORIZED OFFICER, REGIONAL
OFFICE, KOTTAYAM, III FLOOR, AMALA TOWERS, ADICHIRA
JUNCTION, KOTTAYAM,PIN-686 630
2 THE BRANCH MANAGER,
UNION BANK OF INDIA, RANNI BRANCH, THAMARASSERIL
BUILDING, MAMUKKU, PAZHAVANGADI P.O., RANNI,
PATHANAMTHITTA,PIN-689 673
OTHER PRESENT:
SHRI. A.S.P KURUP (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.19106/2022 2
JUDGMENT
Petitioners have approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the Securitisation Act) for recovery of the amounts due upon agricultural loan availed by the petitioners.
2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the outstanding amount in instalments.
3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment and the outstanding amount is Rs.5,48,657/- as on 23.6.2022. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the outstanding amount in limited instalments.
4. I have heard the learned counsel for the petitioners as well as the learned Standing Counsel for the respondents.
5. Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in twelve (12) instalments.
6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.5,48,657 /- along with bank charges from the petitioners on the following conditions: W.P.(C)No.19106/2022 3
(i) The outstanding amount of Rs.5,48,657/-together with any accured interest/costs shall be repaid in twelve (12) equated monthly instalments
(ii) The first instalment shall be paid on or before 15.07.2022 and subsequent instalments shall be paid on or before 15 th of every succeeding month.
(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.
(iv) In order to enable the petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE acd W.P.(C)No.19106/2022 4 APPENDIX OF WP(C) 19106/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO THE 1ST PETITIONER DATED 04.09.2019 Exhibit P2 TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS DATED 20.09.2019 Exhibit P3 TRUE COPY OF THE RECEIPTS OF PAYMENT BY THE PETITIONERS DATED 07.04.2022 AND 11.04.2022 Exhibit P3A TRUE COPY OF THE RECEIPTS OF PAYMENT BY THE PETITIONERS TOWARDS AGRICULTURAL LOAN ACCOUNT DATED 13.04.2022 AND 28.04.2022 Exhibit P3B TRUE COPY OF THE RECEIPTS OF PAYMENT BY THE PETITIONERS TOWARDS AGRICULTURAL LOAN ACCOUNT DATED 29.04.2022 AND 04.05.2022 Exhibit P4 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONERS DATED 27.05.2022 Exhibit P5 TRUE COPY OF THE LEASE DEED IN FAVOUR OF THE 1ST PETITIONER DATED 20.04.2022