Raji Sidharthan vs Kerala State Co-Operative Bank ...
2021 Latest Caselaw 4632 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                   PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     TUESDAY, THE 09TH DAY OF FEBRUARY 2021 / 20TH MAGHA,1942

                        WP(C).No.3268 OF 2021(G)


PETITIONER/S:

                RAJI SIDHARTHAN,
                AGED 41 YEARS,
                W/O SIDHARTHAN,M POOTTALAKKAL HOUSE, THIRUVENKIDOM,
                GURUVAYUR P.O.TRISSUR DISTRICT, PIN-680 101.

                BY ADVS.
                SMT.P.MAMATHA
                SMT.P.DHANYA
                SMT.SANDHYA VENI

RESPONDENT/S:

                KERALA STATE CO-OPERATIVE BANK LTD.,
                (FORMER TRISSUR CO OPERATIVE BANK LTD), GURUVAYUR
                BRANCH, GURUVAYUR P.O.,
                SAHAKARNA SHATHABDHI MANDIRAM,
                HEAD OFFICE, TUDA ROAD, KOVILAKATHUMPADAM,
                THIRUVAMBADI P.O.THRISSUR , PIN-680 022, REPRESENTED
                BY ITS AUTHORIZED OFFICER




                SC-- P C SASIDHARAN FOR R1

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.3268 OF 2021

                                           2


                                      JUDGMENT

Dated this the 9th day of February 2021

By this petition, the petitioner is challenging

the proceedings of notice at Ext.P2 issued by the

respondent secured creditor under the SARFAESI Act.

2. Learned Counsel for the petitioner argued

that the petitioner is not desirous of pursuing her

challenge to the notice issued under the SARFAESI

Act, but wants to clear the entire overdue amount

of loan in suitable instalments.

3. Learned Counsel for the respondent bank

opposed the petitioner contending that, on

30.05.2016, a loan of Rs.20 lakhs was obtained

by the petitioner and the term of that loan is

for 120 months. As the petitioner has failed to

repay the loan in time, on 01.12.2017,

demand notice under Section 13(2) of the SARFAESI

Act was issued, recalling the entire loan. On

09.03.2018, by virtue of notice under Section 13(4)

of SARFAESI Act, symbolic possession is taken. WP(C).No.3268 OF 2021

According to learned Counsel for the respondent,

the entire overdue amount is about Rs.11,89,612/-

(Rupees Eleven lakhs Eighty Nine Thousand Six Hundred

and Twelve only). The petitioner is a

chronic defaulter, according to the secured

creditor. Learned Counsel for the respondent

therefore seeks dismissal of the petition.

4. I have considered the submissions so

advanced and perused the material placed before me.

5. Duly sworn petition shows that, the husband

of the petitioner was working in the Gulf at the

time of availing the loan and due to Covid-19

pandemic, he lost his job and returned to Kerala.

It is also noticed that term of the loan is yet to

expire and the petitioner is willing and desirous

of repaying the entire overdue amount apart from

regular payment of instalments. Hence, the

petitioner deserves one more chance in the light of

the fact that the petitioner is not challenging the

action taken by the respondent under the SARFAESI

Act. Hence, the petition is disposed of with the WP(C).No.3268 OF 2021

following directions:

i) The petitioner to pay half of the overdue loan amount, i.e., half of Rs.11,89,612/-, to the secured creditor by the end of March 2021.

          ii)     The      petitioner           to     pay    the     balance
          overdue            amount             in         six           equated
          successive                    monthly                   instalments

commencing from 09.04.2021. In addition, the petitioner to continue regular payment of EMI's.

iii) If the petitioner abides by these directions, the respondent shall keep coercive action in abeyance.

iv) A single default in compliance with these directions shall entitle the respondent to continue with coercive action.

v) No further extension of time for compliance with these directions shall be granted to the petitioner.

WP(C).No.3268 OF 2021

The Writ Petition is disposed of accordingly.

Sd/-

A.M.BADAR

JUDGE

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9.2.2021 WP(C).No.3268 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF BANK STATEMENT DATED 30.5.2016 SHOWING THE TRANSACTION BETWEEN THE RESPONDENT AND THE PETITIONER

EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 7.3.2020 ISSUED BY THE RESPONDENT BANK ALONG WITH THE ENGLISH TRANSLATION

EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 23.6.2020 ISSUE BY THE RESPONDENT BANK TO THE PETITIONER ALONG WITH THE ENGLISH TRANSLATION

EXHIBIT P4 TRUE COPY OF THE INLAND LETTER/NOTICE DATED NIL IS ISSUED BY THE RESPONDENT BANK TO THE PETITIONER ALONG WITH THE ENGLISH TRANSLATION