Soujath Musthafa vs South Indian Bank Ltd
2021 Latest Caselaw 4314 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 05TH DAY OF FEBRUARY 2021 / 16TH MAGHA,1942

                       WP(C).No.2355 OF 2021(T)


PETITIONER:

               SOUJATH MUSTHAFA
               AGED 45 YEARS
               W/O.MUSTHAFA, FAIZ VILLA, BEHIND CIVIL STATION
               KOYILANDY, KOYILANDY (P.O.), KOZHIKODE (DIST.), - 673
               305.

               BY ADV. SMT.K.DEEPA (PAYYANUR)

RESPONDENTS:

      1        SOUTH INDIAN BANK LTD.
               REGIONAL OFFICE, HAPPY TOWER, VAIKOM MOHAMMED BASHEER
               ROAD, MANACHIRA, KOZHIKODE, REGD.OFFIE, SIB HOUSE,
               T.B.ROAD, MISSION QUARTERS, THRISSUR - 680 001
               REPRESENTED BY THE CHIEF MANAGER.

      2        THE AUTHORIZED OFFICER
               M/S.SOUTH INDIA BANK, REGIONAL OFFICE, HAPPY TOWER,
               VAIKOM MOHAMMED BASHEER ROAD, MANACHIRA (P.O.),
               KOZHIKODE - 673 001.

               R1-2 BY ADV. SRI.SUNIL SHANKER
               R1-2 BY ADV. SMT.VIDYA GANGADHARAN



               SC-- SUNIL SHANKAER

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.2355 OF 2021(T)

                                       2

                                JUDGMENT

Dated this the 5th day of February 2021

Heard the learned counsel for the petitioner.

2. The petitioner is a guarantor of the loan taken by her

husband for doing hotel business. Because of the default committed in

repayment of that loan, respondent, ie, the secured creditor had

recalled that loan. The petitioner's husband on an earlier occasion had

approached this Court by filing WP(C) No. 33542/2019 for

regularization of that loan by granting installments. By judgment

dated 21.01.2020, this Court was pleased to grant four equal

installments for clearing the overdue amount and for regularization of

that loan. While deciding that petition, it was made clear that if the

conditions imposed in the said judgment are not complied, then the

Bank shall be at liberty to commence the impugned proceedings.

3. The learned counsel for the petitioner argued that because

of pandemic Covid-19, the overdue amount of loans could not be

repaid fully. The loanee has made some payment. However, the

petitioner is informed that the Bank is going to take possession of the

property shortly for an amount of Rs.1.57 crores. The learned counsel

for the petitioner argued that the petitioner is ready and willing to

clear the entire overdue amount of loan by installments and she is WP(C).No.2355 OF 2021(T)

willing to get the loans regularized. My attention is also drawn to the

statement of accounts at Ext.P4.

4. As against this, the learned counsel for the respondent

Bank made a statement at Bar that the Bank has filed Original

Application before the DRT for decree in respect of recovery of amount

of the recalled loan.

5. The statement made by the learned counsel for the

respondent regarding filing of the original application before the DRT is

recorded and accepted. As the original application is reportedly

pending before the DRT, the only course open for the petitioner is to

enter into compromise in that matter by seeking necessary relief. The

petitioner is at liberty to approach the DRT for getting the Original

Application compromised.

In this view of the matter, the petition is disposed of.

SD/-

A.M.BADAR Nsd //TRUE COPY// JUDGE PA TO JUDGE WP(C).No.2355 OF 2021(T)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE JUDGMENT DATED 21/01/2020 IN W.P(C) NO.33542/2019 OF THIS HON'BLE COURT.

EXHIBIT P2 TRUE COPY OF THE LAWYER NOTICE DATED 07/09/2020 ISSUED TO THE PETITIONER AND HER HUSBAND BY THE RESPONDENT BANK.

EXHIBIT P3 TRUE COPY OF THE REPLY NOTICE DATED 18/09/2020 WITH RESPONSE TO EXT.P3 SENT BY THE PETITIONER.

EXHIBIT P4 TRUE COPY OF THE STATEMENT OF ACCOUNTS FOR THE PERIOD FROM 11/11/2016 TO 06/10/2020 ISSUED TO THE PETITIONER FROM THE RESPONDENT BANK.