Kerala High Court
Hamza P.P vs The Ponnani Co-Operative Urban Bank ... on 28 June, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 28TH DAY OF JUNE 2024 / 7TH ASHADHA, 1946
WP(C) NO. 12199 OF 2024
PETITIONER:
HAMZA P.P.
AGED 68 YEARS
S/O. KUNHAVA, PADINJAREPATTAYIL HOUSE, PURANGU
P.O., MARANCHERY, PONNANI TALUK, MALAPPURAM
DISTRICT, PIN - 679584.
BY ADV C.M.MOHAMMED IQUABAL
RESPONDENTS:
1 THE PONNANI CO-OPERATIVE URBAN BANK LIMITED
REPRESENTED BY ITS MANAGER, NO. M372, PONNANI
BRANCH, K.K.JUNCTION, PONNANI P.O., MALAPPURAM
DISTRICT, PIN - 679577.
2 THE BRANCH MANAGER
THE PONNANI CO-OPERATIVE URBAN BANK
LIMITED,MARANCHERY BRANCH, MARANCHERY P.O.,
PONNANI TALUK, MALAPPURAM DISTRICT,
PIN - 679581.
3 THE AUTHORIZED OFFICER
THE PONNANI CO-OPERATIVE URBAN BANK LIMITED,NO.
M372, PONNANI BRANCH, K.K.JUNCTION, PONNANI
P.O., MALAPPURAM DISTRICT, PIN - 679577.
BY ADVS.
SHOBY K.FRANCIS
AGI SHOBY(A-768)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 28.06.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) NO. 12199 OF 2024
:2:
JUDGMENT
Dated this the 28h day of June, 2024 The petitioner who has availed a mortgage loan of ₹32 lakhs from the Ponnani Co-operative Urban Bank Ltd. for construction of his residential house in the year 2016, is before this Court, aggrieved by the proceedings initiated by the Bank, invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
2. Though the writ petition was filed with a prayer to direct the 1st respondent to consider and pass appropriate orders on Ext.P3 representation filed by the petitioner seeking opportunity to repay the outstanding amount in instalments, when the writ petition came up for hearing today, the counsel representing the petitioner submitted that the petitioner is inclined to try for a One Time Settlement and the petitioner may be permitted to approach the Bank for One Time Settlement.
3. The Standing Counsel entered appearance and resisted the writ petition on behalf of the Bank. The Standing WP(C) NO. 12199 OF 2024 :3: Counsel submitted that as on 15.06.2024 the outstanding amount payable by the petitioner is ₹18,57,815/-. If the petitioner makes an upfront payment and apply for One Time Settlement, such application can be considered in accordance with law.
Taking into consideration the afore facts, the writ petition is disposed of directing that if the petitioner remits/transfers an amount of ₹5 lakhs to the Bank and makes a concrete proposal for One Time Settlement within 3 weeks indicating the settlement amount and timeline for repayment, then the respondent shall consider such application and take appropriate decision in accordance with law. If the petitioner makes the payment as directed above and submits application for One Time Settlement within the stipulated time, coercive proceedings against the petitioner shall stand deferred till the Bank takes a decision on the application.
Sd/-
N. NAGARESH
pvv JUDGE
WP(C) NO. 12199 OF 2024
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APPENDIX OF WP(C) 12199/2024
PETITIONER'S EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE STATEMENT ISSUED
BY THE 2ND RESPONDENT BANK DATED
18.03.2024.
EXHIBIT P2 THE TRUE COPY OF THE NOTICE ISSUED BY
THE ADVOCATE COMMISSIONER IN M.C.NO.
912/2023 OF THE CJM COURT, MANJERI DATED 27.02.2024.
EXHIBIT P3 THE TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE 1ST RESPONDENT DATED 11.03.2024