Mohammed Kunhi vs The Authorized Officer

Kerala High Court

Mohammed Kunhi vs The Authorized Officer 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. 17144 OF 2024
PETITIONER:

             MOHAMMED KUNHI,
             AGED 57 YEARS
             S/O. ABDULLA, M.R.HOUSE, PAKYARA, UDUMA P.O,
             KASARGOD DISTRICT, PIN - 671319
             BY ADV K.V.SREE VINAYAKAN


RESPONDENTS:

      1      THE AUTHORIZED OFFICER,
             KERALA STATE CO-OPERATIVE BANK LTD,(KERALA BANK)
             HEAD OFFICE, P.B.NO.48, NAYAK'S ROAD, KASARAGOD,
             PIN - 671121
      2      THE KERALA STATE CO-OPERATIVE BANK LTD,(KERALA
             BANK),
             UDUMA BRANCH, KASARAGOD, REPRESENTED BY ITS
             MANAGER, PIN - 671121
      3      RASHEEDA.P.H.,
             W/O. MOHAMMED KUNHI, M.R.HOUSE, PAKYARA, UDUMA
             P.O, KASARGOD DISTRICT, PIN - 671319


             BY ADV M.SASINDRAN


      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.17144 of 2024      :2:



                           VIJU ABRAHAM, J.
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                       W.P.(C) No.17144 of 2024
         --     -- -- -- -- -- -- -- -- -- -- -- --
                   Dated this the 14th day of May, 2024

                             JUDGMENT

The 3rd respondent, who is the wife of the petitioner, has availed two loans from the 2 nd respondent bank and consequent to the default in repayment of the amount, proceedings have been initiated by the bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act. The petitioner has approached this Court seeking a direction to permit him to pay the overdue amount in 20 equal monthly instalments.

2. Heard the learned counsel for the petitioner and the learned counsel for the respondent bank.

3. The learned counsel for the respondent bank submitted that the total overdue amount as on date is Rs.6,72,937/- and that the if the petitioner pays the overdue amount in equal monthly instalments along with the regular EMIs, the loan account could be regularised.

4. Considering the facts and circumstances of the case and submissions made across the bar, I dispose of the writ petition W.P.(C). No.17144 of 2024 :3: directing to regularise the loan account on the following conditions:

i) The petitioner shall pay the overdue amount of Rs.6,72,937/- (Rupees six lakhs seventy two thousand nine hundred and thirty seven only) along with the accrued interest and other charges in 15 equated monthly installments, commencing from 01.06.2024 and shall continue to pay the regular instalments as per the original loan schedule.

ii) 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.

iii) 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.17144 of 2024 :4: APPENDIX OF WP(C) 17144/2024 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE JUDGMENT IN W.P(C) 2640/2022 DATED 25-01-2022 OF THIS COURT Exhibit P2 THE TRUE COPY OF THE ORDER IN R.P.NO.

1051/2023 DATED 22-03-2024 OF THIS COURT Exhibit P3 THE TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENTS 1 AND 2 DATED 04-04-2024