Kerala High Court
Wilson vs State Of Kerala on 7 April, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
WEDNESDAY, THE 07TH DAY OF APRIL 2021 / 17TH CHAITHRA, 1943
WP(C).No.7425 OF 2021(C)
PETITIONER:
WILSON,
AGED 54 YEARS,
S/O. PAULOSE,
THEKKEKKARA HOUSE,
PERAMBRA P.O, KODAKARA-680 689.
BY ADVS.
SRI.ARUN MATHEW VADAKKAN
SRI.JOHNSON JOSE PANJIKKARAN
KUM.P.H.RIMJU
RESPONDENTS:
1 STATE OF KERALA,
REPRESENTED BY THE CHIEF SECRETARY TO GOVERNMENT,
SECRETARIAT, THIRUVANANTHAPURAM-695 001.
2 AUTHORISED OFFICER,
KERALA STATE CO-OPERATIVE BANK LTD,
KOVILAKATHUMPADAM, THIRUVAMBADY P.O,
THRISSUR-680 022,
(ERSTWHILE THRISSUR DISTRICT CO-OPERATIVE BANK)
3 THE BRANCH MANAGER,
PERAMBRA BRANCH,
THRISSUR DISTRICT CO-OPERATIVE BANK PERAMBRA P.O,
KODAKARA-680 689,
(ERSTWHILE THRISSUR DISTRICT CO-OPERATIVE BANK).
R1 BY SMT. POOJA SURENDRAN, GOVERNMENT PLEADER.
R2-3 BY SRI. P.C SASIDHARAN, STANDING COUNSEL.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.7425 OF 2021
2
JUDGMENT
Dated this the 07th day of April 2021
Heard both sides.
2. The subject matter of the petition is two
loans availed from the 3rd respondent. The 1st loan
was for Rs.4.50 Lakhs, the term of which is up to
year 2026, whereas the another loan is for
Rs.13,00,000/- the term of which is upto year 2027.
There is default in the repayment of these loans and
that is how they were declared as non-performing
asset. Action under the SARFAESI Act was commenced
against the petitioner. Demand notice under Section
13(2) of the SARFAESI Act was issued and it was
followed by the notice under Section 13(4) thereof
issued on 18-01-2021.
3. The learned counsel for the petitioner
submits that the petitioner wants to regularize the
loan accounts by payment of overdue amount in
instalments apart from regular payment of E.M.Is.
He submits that overdue amount shall be cleared in
12 instalments.
WP(C).No.7425 OF 2021
4. The learned Standing Counsel for respondent
Nos.2 and 3 submits first loan account overdue
amount is about Rs.357327/- whereas in the 2nd loan
overdue amount is about Rs.862935/-. Respondents
submit that the overdue amount needs to be cleared
in 8 instalments apart from regular payment of
E.M.Is.
5. As the respondents are willing to accept the
overdue amount in instalments, the petition is
disposed of with the following directions:
i) The petitioner to pay the entire ovderdue
amount of both loan accounts with interest and
other charges in twelve equated successive
monthly instalments commencing from 30-04-2021
apart from regular payment of E.M.Is..
If these directions are complied with, the
respondents shall keep coercive action under the
SARFAESI Act initiated against the petitioner in
abeyance. A single default on the part of the
petitioner in compliance with these directions shall
entail the respondents to continue with the coercive
WP(C).No.7425 OF 2021
action initiated against the petitioner. No further
extension of time shall be granted to the petitioner
for compliance with these directions.
The petition, is disposed of as above.
Sd/-
A.M.BADAR
JUDGE
SSK/07/04
WP(C).No.7425 OF 2021
APPENDIX
PETITIONER'S EXHIBITS:
TRUE COPY OF THE SECTION 13(4) NOTICE DATED
EXHIBIT P1 18.1.2021 ISSUED BY THE RESPONDENTS 2 AND 3
TO THE PETITIONER.
EXHIBIT P1 A TRUE ENGLISH TRANSLATION OF EXHIBIT P1.
TRUE COPY OF THE JUDGMENT OF THIS HON'BLE
EXHIBIT P2 COURT IN W.A. NO. 290 OF 2021 DATED
17.02.2021.
RESPONDENT'S EXHIBITS:NIL
SSK //TRUE COPY// PA TO JUDGE
