Kerala High Court
Kamala vs The Manager on 13 September, 2024
2024:KER:70009
WP(C) NO. 32631 OF 2024 -1-
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
FRIDAY, THE 13TH DAY OF SEPTEMBER 2024 / 22ND BHADRA, 1946
WP(C) NO. 32631 OF 2024
PETITIONER/S:
KAMALA,
AGED 65 YEARS
W/O.RAVEENDRAN, KUNNINPURATHU PUTHEN VEEDU,
KARAMCODE P.O, THATTARKONAM, KALLUVATHUKKAL,
KOLLAM, PIN - 691579
BY ADVS.
PRATHEESH.P
ANJANA KANNATH
MARIYA JOSE
RESPONDENT/S:
1 THE MANAGER,
QUILON CO-OPERATIVE URBAN BANK LTD., 960, KUNDARA
BRANCH, BUILDING NO. 4/988, PUNNAMUKKU, KUNDARA P
O,KOLLAM -, PIN - 691501
2 THE AUTHORIZED OFFICER,
QUILON CO-OPERATIVE URBAN BANK LTD., 960, YMCA
ROAD, CHINNAKKADA, KOLLAM -, PIN - 691001
OTHER PRESENT:
SC SRI. RENU D.P
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 13.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
2024:KER:70009
WP(C) NO. 32631 OF 2024 -2-
JUDGMENT
(Dated this the 13th day of September 2024) The son of the petitioner had availed a financial assistance of Rs.18,00,000/- from the 1 st respondent-Bank. The property of the petitioner was mortgaged by deposit of a title deed by way of the security for the due re-payment of loan amount. The payment of the EMI was defaulted in the year 2024. The respondents had declared the loan account as NPA.
2. Ext.P1 notice was issued by the Advocate Commissioner informing that the physical possession of the property will be taken on 24.09.2024. The petitioner thereafter requested the Bank for reasonable time to clear the outstanding arrears so as to regularize the loan. But the Bank was not ready to grant the same.
3. The Standing counsel for the respondent-Bank submits that the overdue amount as of today is Rs. 4,75,647/-.
2024:KER:70009 WP(C) NO. 32631 OF 2024 -3-
4. The counsel for the petitioner seeks indulgence of this court to grant 10 installments to wipe off the overdue amount.
5. Having heard the counsel appearing for the petitioner as well as Standing counsel appearing for the respondents, I deem it appropriate to dispose of the writ petition as follows:
(i) The petitioner shall pay the overdue amount in eight equal monthly installments along with regular installments.
(ii) The first installment is to be paid on or before 15.10.2024, and the remaining 7 installments on or before the 15 th day of each succeeding month, along with regular installments.
(iii) After making payment of the entire overdue amount along with regular installments, the petitioner shall continue to pay the regular installments till the entire loan liability is discharged.
2024:KER:70009 WP(C) NO. 32631 OF 2024 -4-
(iv) In case of failure to make payment of the installments as directed above, the Bank shall be free to take possession of the secured assets. The Bank shall proceed against the petitioner in accordance with law to realize its dues.
(v) Till such time, all coercive proceedings against the secured assets shall be deferred.
Sd/-
BASANT BALAJI JUDGE JS 2024:KER:70009 WP(C) NO. 32631 OF 2024 -5- APPENDIX OF WP(C) 32631/2024 PETITIONER EXHIBITS Exhibit P1 THE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN M.C NO.646/2024 DATED 6.9.2024 ON THE FILE OF CJM COURT, KOLLAM ALONG WITH READABLE COPY