Nadira Navas vs The Federal Bank Ltd
2021 Latest Caselaw 17715 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                           PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   FRIDAY, THE 27TH DAY OF AUGUST 2021 / 5TH BHADRA, 1943
                   WP(C) NO. 17337 OF 2021
PETITIONER:

          NADIRA NAVAS,
          AGED 46 YEARS, W/O. NAVAS,
          NAFILA MANZIL,
          MADANVILA, PERUMATHURA,
          THIRUVANANTHAPURAM 695 303.
          BY ADVS.
          K.K.DHEERENDRAKRISHNAN
          N.P.ASHA


RESPONDENTS:

    1     THE FEDERAL BANK LTD.
          LCRD/4TH FLOOR, FEDERAL TOWERS, STATUE,
          THIRUVANANTHAPURAM 695 001,
          REPRESENTED BY ITS AUTHORIZED OFFICER.
    2     THE FEDERAL BANK LTD,
          PERUMATHURA BRANCH, AAPPYS PLAZA,
          THIRUVANANTHAPURAM 695 303, REPRESENTED BY ITS
          BRANCH MANAGER.
          ADV.SUNIL SHANKAR, SC
     THIS WRIT PETITION      (CIVIL) HAVING COME UP        FOR
ADMISSION ON 27.08.2021,     THE COURT ON THE SAME         DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.17337/21                   -:2:-




                                  JUDGMENT

Dated this the 27th day of August, 2021

The limited prayer raised in this writ petition is for grant of 20

equal monthly instalments for clearing the entire dues in the loan

account of the petitioner.

2. Petitioner and her husband had availed off a loan from the

2nd respondent and according to the learned Standing Counsel, as on

date, an amount of Rs.4,01,800/- is remaining in arrears.

Accordingly proceedings under the Securitisation and Reconstruction

of Financial Assets and Enforcement of Security Interest Act, 2002,

have been initiated.

3. Since the limited relief claimed is for regularisation of the

loan by clearing the entire arrears as on date, through instalments, I

am of the view that the discretionary jurisdiction can be exercised

having regard to the contentions raised by the respondents as well

as the petitioner.

4. In view of the above, I direct the petitioner to repay the

entire arrears mentioned above in seven equated monthly

instalments, first of which shall commence from 10.9.2021. It is also

made clear that the petitioner shall continue to pay the regular EMI

without default. Needless to say that in the event of default of any of

the instalment, the benefit under this judgment shall not be available.

In the event of the entire arrears paid as stipulated in this judgment,

the 2nd respondent shall regularise the loan account of the petitioner.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE vps

APPENDIX

PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE SECTION 13(2) NOTICE UNDER SARFAESI ACT 2002 NO. TVMLCRD/NPA

-1983/PMT/3263 DATED 9.4.2021 ISSUED BY THE RESPONDENT BANK.

EXHIBIT P2            TRUE COPY OF NOTICE ISSUED BY 2ND
                      RESPONDENT         AS        LCRDTVM/NPA

1983/PMT/4115/2021-22 DATED 6.8.2021.