Sarath Gopi vs The Authorised Officer, People'S ...
2021 Latest Caselaw 17306 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
     TUESDAY, THE 17TH DAY OF AUGUST 2021 / 26TH SRAVANA, 1943
                        WP(C) NO. 16934 OF 2021
PETITIONER/S:

    1     SARATH GOPI
          AGED 22 YEARS
          S/O GOPI, KODUMBIL HOUSE, KODUMBIL ROAD, SOUTH
          CHITTTOOR, ERNAKULAM, PIN-682 027.

    2     K.V.GOPI,
          AGED 61 YEARS
          S/O VALLON, KODUMBIL HOUSE, KODUMBIL ROAD, SOUTH
          CHITTOOR, ERNAKULAM , PIN-682 027.

          BY ADVS.
          K.R.VINOD
          M.S.LETHA



RESPONDENT/S:

    1     THE AUTHORISED OFFICER, PEOPLE'S URBAN CO-OPERATIVE
          BANK LTD NO 51,
          HEAD OFFICE, TRIPUNITHURA, PIN-682 301

    2     PEOPLES URBAN CO-OPEATIVE BANK LTD NO 51,
          TRIPUNITHURA, REPRESENTED BY IS MANAGER, HEAD OFFICE,
          TRIPUNITHURA, PIN-682 301.

          R BY ADV.DEVA PRASANTH, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
17.08.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 16934 OF 2021          ..2..




                        JUDGMENT

The petitioners have availed a loan from the 2 nd

respondent Bank. According to the petitioners, due to

the pandemic situation, the petitioners could not repay

the loan amount and the Bank has initiated Ext.P1

proceedings under Rule 8 of the Security Interest

(Enforcement) Rules and Section 13(2) of the

Securitization and Reconstruction of Financial Assets

and Enforcement of Security Interest Act (SARFAESI),

2002. The amount due from the petitioners is

Rs.5,40,925/-.

2. When this writ petition came up for

consideration on 13.08.2021, notice was ordered to the

respondents and all proceedings pursuant to Ext.P1

proceedings was directed to be deferred. Today, WP(C) NO. 16934 OF 2021 ..3..

Adv.Deva Prasanth appeared for the respondent Bank

and submitted that the respondents are willing to

regularise the loan account of the petitioners, provided

they pay the amounts in instalments.

3. Heard the learned Counsel for the petitioners

and the learned Counsel for the respondents.

4. There will be a direction to the petitioners to

pay an amount of Rs.25,000/- (Rupees twenty five

thousand only) within a period of one month from the

date of receipt of a copy of this judgment. The Bank will

intimate the petitioners the steps to be taken for

regularising the loan account and the amounts to be

paid. On such intimation, the amount to regularise the

entire loan account will be paid by the petitioners in '6'

equal monthly installments along with regular EMI.

Ext.P1 and all proceedings thereto will stand deferred.

WP(C) NO. 16934 OF 2021 ..4..

If the petitioners make any default in remitting the

amount as stated above, the respondent Bank will be

free to proceed with Ext.P1.

The writ petition is disposed of accordingly.

Sd/-

MURALI PURUSHOTHAMAN JUDGE SB/17/08/2021.

                          //True Copy //

                          P.A To Judge
 WP(C) NO. 16934 OF 2021      ..5..



              APPENDIX OF WP(C) 16934/2021

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 11.8.2021

Exhibit P2 TRUE COPY OF THE TEST REPORT ISSUED BY LOURDE HOSPITAL, ERNAKULAM TO THE 1ST PETITIONER

Exhibit P3 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONERS BEFORE THE RESPONDENTS DATED 11.8.2021