Laila Rafeeque vs Union Bank Of India

Kerala High Court

Laila Rafeeque vs Union Bank Of India on 14 May, 2024

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
              THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
     TUESDAY, THE 14TH DAY OF MAY 2024 / 24TH VAISAKHA, 1946
                      WP(C) NO. 17732 OF 2024
PETITIONER:

           LAILA RAFEEQUE
           AGED 45 YEARS
           ALHAMDULILLA MANZIL, MAYANAD,NAYADATHPARAMBA,
           KODAKATTU THAZHAM, KOTTAPPARAMBA, KOZHIKODE,
           PIN - 673008
           BY ADV VIJAYAKUMARI


RESPONDENT:

             UNION BANK OF INDIA
             REPRESENTED BY THE AUTHORISED OFFICER, UNION BANK
             OF INDIA, FIRST FLOOR, KSHB BUILDING, VIKAS NAGAR,
             EAST HILL ROAD, KOZHIKODE, PIN - 673005

             SC - Adv. ASP KURUP
      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   14.05.2024,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P.(C). No.17732 of 2024          :2:



                           VIJU ABRAHAM, J.
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                       W.P.(C) No.17732 of 2024
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                   Dated this the 14th day of May, 2024

                                JUDGMENT

The petitioner has approached this Court challenging Ext.P1 notice under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act and seeks for 24 instalments to pay the amount due to the bank.

2. The learned Standing Counsel appearing for the bank would submit that the total overdue amount as on date is Rs.2,07,000/- and the loan can be regularised if the petitioner pays a substantial amount initially and pay balance amount in reasonable instalments.

3. Considering the facts and circumstances of the case and submissions made across the bar, I dispose of the writ petition directing to regularise the loan amount on the following conditions:

i) The petitioner shall pay an amount of Rs.50,000/-

(Rupees fifty thousand only) within a period of one month from today.

ii) The balance amount along with the accrued interest and other charges shall be paid by the W.P.(C). No.17732 of 2024 :3: petitioner in 10 equated monthly installments, commencing from 15.06.2024 and shall continue to pay the regular instalments as per the original loan schedule.

iii) In the event of any single default in payment as directed above, the respondent bank shall be free to continue the recovery proceedings from the stage at which they presently stand.

iv) It is made clear that if the petitioner complies with the aforesaid directions, further proceedings for recovery shall be kept in abeyance. With the above said directions, this writ petition is disposed of.

Sd/-

VIJU ABRAHAM JUDGE sm/ W.P.(C). No.17732 of 2024 :4: APPENDIX OF WP(C) 17732/2024 PETITIONER EXHIBITS Exhibit .P1 TRUE COPY OF POSSESSION NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER