IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 31ST DAY OF MAY 2022 / 10TH JYAISHTA, 1944
WP(C) NO. 17493 OF 2022
PETITIONER:
MANJU.P.G,
AGED 49 YEARS,
W/O.SASI.K. TC-51/1013, VALIYAVILA PUTHENVEEDU,
ARUVAKKODE, INDUSTRIAL ESTATE.P.O., PAPPANAMKODE,
THIRUVANANTHAPURAM - 695 018.
BY ADVS.
A.ABDUL RAHMAN (A-1917)
VARNIBHA.T
RESPONDENTS:
1 THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.,
HEAD OFFICE, P.B.NO.115, M.G.ROAD.,
THIRUVANANTHAPURAM-695 001,
REPRESENTED BY IT'S AUTHORISED OFFICER.
2 HARIDAS.B.,
AGED 40 YEARS
S/O BHASI, KAMUKINKUZHYVEEDU, INDUSTRIAL ESTATE.P.O.,
SATHYAN NAGAR, PAPPANAMKODU,
THIRUVANANTHAPURAM-695 018.
BY SMT NISHA GEORGE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 17493 OF 2022
2
JUDGMENT
The petitioner is a guarantor in respect of a loan availed by the 2nd respondent. She has approached this Court challenging proceedings initiated her under the SARFAESI Act and states that if reasonable installment facility is granted, she is willing to discharge the liability.
2. The learned Standing Counsel for the 1 st respondent Bank opposes the prayer. It is submitted that the 2 nd respondent is a chronic defaulter and he had also approached this Court earlier and obtained an interim order in W.P. (C)No.7870 of 2022 on condition that he pays a sum of Rs.10 lakhs on or before 10.03.2022. It is submitted that no payment has been made pursuant to the order.
3. The learned counsel appearing for the petitioner submits that the proceedings have now been initiated against the residential house of the petitioner. It is submitted that the 2nd respondent is a friend of the petitioner's husband and she was forced to guarantee the repayment of loan on the promise that there will be no default committed by the 2nd respondent. WP(C) NO. 17493 OF 2022 3
4. 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 petitioner can be granted an opportunity to repay the entire amount due in 12 instalments.
5. Accordingly, there will be a direction to the 1 st respondent bank to accept repayment of the amount of Rs.56,92,490/- along with bank charges and any additional interest payable from the petitioner.
(i) The amount of Rs.56,92,490/- shall be repaid in 12 equated monthly instalments, together with bank charges and additional interest (if any);
(ii) The first instalment shall be paid on or before 15.06.2022.
(iii) In the event of default of any one instalment, the 1st respondent Bank shall be entitled to proceed in accordance with law.
On compliance of the above directions, further proceedings initiated against the petitioner shall be kept in abeyance.
WP(C) NO. 17493 OF 2022 4 The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE DK WP(C) NO. 17493 OF 2022 5 APPENDIX OF WP(C) 17493/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE NO.287/20-21 DATED 12.11.2020 SERVED ON THE PETITIONER BY THE 1ST RESPONDENT.
Exhibit P2 TRUE COPY OF THE NOTICE DATED 21.5.2022 SERVED ON THE PETITIONER BY THE ADVOCATE COMMISSIONER.