Kerala High Court
Bindhu K.C vs The Authorized Officer on 16 April, 2024
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
TUESDAY, THE 16TH DAY OF APRIL 2024 / 27TH CHAITHRA, 1946
WP(C) NO. 15947 OF 2024
PETITIONER:
BINDHU K.C,
AGED 40 YEARS
W/O.BIJU KURUTHERILRAJAPPAN, VALLUVANTHARA COLONY,
PALLIPAD P.O, HARIPAD, ALAPPUZHA, PIN - 690512
BY ADVS.
P.BIJIMON
JACOB SAMUEL
RESPONDENTS:
1 THE AUTHORIZED OFFICER,
THE FEDERAL BANK LTD, LOAN COLLECTION AND RECOVERY
DIVISION, MAVELIKARA, PIN - 690101
2 THE MANAGER,
THE FEDERAL BANK LTD, PALLIPPAD BRANCH, HARIPAD, PIN-
690512
3 BIJU KURUTHERILRAJAPPAN,
AGED 42 YEARS, S/O. RAJAPPAN,
VALLUVANTHARA COLONY, PALLIPAD, P.O, HARIPAD,
PIN-690512.
SC SRI MOHUN JACOB GEORGE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C) No.15947 OF 2024
2
JUDGMENT
Dated this the 16th day of April, 2024 The petitioner is the wife of the third respondent, who availed a housing loan from the respondent bank. On committing default in repayment, the respondent bank initiated recovery proceedings against the petitioner. Aggrieved by the issuance of notice under Sections 13(2) and 13(4) of the SARFAESI Act, 2002, the petitioner has approached this Court with the above writ petition.
2. The learned counsel for respondent Bank submitted that, the total amount outstanding in the Loan Account of the petitioner, as on 01.12.2023 (on the date of filing of OA), is Rs.47,53,910/- (Rupees Forty seven lakhs fifty three thousand nine hundred and ten only) and also submits that the petitioner may be directed to remit a substantial amount before 30.04.2024 and further that ten instalments may be granted for payment of the balance amount.
3. I have heard the learned counsel for the petitioner and the learned counsel for the respondent W.P.(C) No.15947 OF 2024 3 bank. The learned Counsel for the petitioner seeks 15 instalments for clearing the outstanding liability.
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 outstanding amount in twelve equal monthly instalments.
Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.47,53,910/- (Rupees Forty seven lakhs fifty three thousand nine hundred and ten only) along with accrued interest and charges from the petitioner on the following conditions:
(i) The petitioner shall pay a sum of Rs.5,00,000/-
(Rupees Five lakhs only) on or before 10.05.2024;
(ii) The balance outstanding amount along with any accrued interest and charges shall be repaid in twelve equated monthly instalments commencing from 10.06.2024;
W.P.(C) No.15947 OF 2024 4
(iii) The subsequent instalments shall be paid on or before the 10th day of each succeeding months;
(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.
(v) The petitioner is also at liberty to file an application for One Time Settlement within a period of ten days from the date of receipt of a certified copy of this judgment and the respondent shall consider the application to be filed by the petitioner, within a period of one month from the date of such application;
(vi) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.
The writ petition is disposed of, as above.
Sd/-
SHOBA ANNAMMA EAPEN JUDGE RK W.P.(C) No.15947 OF 2024 5 PETITIONER EXHIBITS Exhibit -P1 THE COPY OF SUMMONS DATED 02.12.2023 ISSUED IN FAVOUR OF THE PETITIONER BY THE DEBT RECOVERY TRIBUNAL - 2, ERNAKULAM IN O.A.634/2023 Exhibit -P2 THE COPY OF THE NOTICE DATED 05.04.2024 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED IN M.C.NO.204/2024 ON THE FILES OF CJM,ALAPPUZHA