Maimoona vs The Kerala State Co-Operative ...
2021 Latest Caselaw 5267 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 12TH DAY OF FEBRUARY 2021 / 23RD MAGHA,1942

                        WP(C).No.3263 OF 2021(G)


PETITIONER/S:

      1         MAIMOONA, AGED 66 YEARS,
                W/O LATE MOHAMMED KUNHI, RESIDING AT SABIR MANZIL,
                MOUVVAL(PO), PANAYAL VILLAGE, KASARAGOD DISTRICT,
                PIN-671 316.

      2         SAJID K.M, AGED 40 YEARS,
                S/O LATE MOHAMMED KUNHI, RESIDING AT NEW QUARTERS,
                NEAR DURGA HIGHER SECONDARY SCHOOL, KANHANGAD PO,
                KASARAGOD DISTRICT, PIN-671 315.

                BY ADV. SHRI.JAWAHAR JOSE

RESPONDENT/S:

      1         THE KERALA STATE CO-OPERATIVE BANK,
                REPRESENTED BY ITS CHIEF EXECUTIVE OFFICER,
                P.B NO 6515, CO-BANK TOWERS, PALAYAM,
                THIRUVANANTHAPURAM, PIN-695 033.

      2         THE GENERAL MANAGER,
                KERALA STATE CO-OPERATIVE BANK, REGIONAL OFFICE,
                TALAP, KANNUR, PIN-670002.

      3         THE AUTHORIZED OFFICER (SARFAESI (ACT),
                KERALA STATE CO-OPERATIVE BANK, NAYAKS ROAD,
                KASARAGOD, PIN-671 121.

                R1 TO R3 BY ADV. SRI.M.SASINDRAN, SC



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.3263 OF 2021

                                          2

                                  JUDGMENT

Dated this the 12th day of February 2021

Heard both sides.

2. Learned Counsel for the petitioners submit

that petitioners are neither disputing their

liability nor they are challenging any action taken

by the secured creditor under the SARFAESI Act.

Learned Counsel for the petitioners submit that

petitioners are desirous of refunding the entire

amount due against them in 12 equated successive

monthly instalments.

3. Learned Counsel for the respondents submit

that the term of the loan is already over and the

petitioners should avail benefit of One Time

Settlement Scheme, which is going on. Learned

Counsel for the respondents further submit that,

after the petitioners refund the amount due against

them in eight instalments, the respondents shall keep

the coercive action under the SARFAESI Act in

abeyance. Learned Counsel for the respondents also WP(C).No.3263 OF 2021

submit that, as on date, excluding other charges, the

amount outstanding in the loan account of the

petitioners is Rs.18,89,731/-.

4. I have considered the submissions so advanced

and perused the material placed before me.

5. The medium term non agricultural loan was

availed by the petitioners, but because of financial

constraints, they could not repay the loan in 60

instalments. Now the petitioners are desirous of

refunding the entire outstanding loan amount in 12

equated successive monthly instalments and even the

respondents have shown their willingness to keep

their coercive action in abeyance. In this view of

the matter, the writ petition is disposed of with the

following directions:

i) Petitioners should refund the entire outstanding amount due and payable to the respondents in 12 equated successive monthly instalments commencing from 25.02.2021.

ii) As long as the petitioners comply with this direction, the respondents shall not WP(C).No.3263 OF 2021

continue with the coercive action initiated by them under the SARFAESI Act against the petitioners.

iii) A single default on the part of the petitioners shall entitle the respondents to continue with the coercive action under the SARFAESI Act.

iv) No further extension of time shall be granted, as the request of the petitioners for 12 equated successive monthly instalments has been accepted by this Court.

The writ petition is disposed of accordingly.

Sd/-

A.M.BADAR

JUDGE

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12.2.2021 WP(C).No.3263 OF 2021

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 20.6.2016 ISSUED BY THE 1ST RESPONDENT BANK UNDER SECTION 1392) OF THE SARFAEST ACT

EXHIBIT P1 (A) COPY OF THE ENGLISH TRANSLATION OF EXHIBIT P1 DOCUMENT

EXHIBIT P2 TRUE COPY OF THE PETITION FILED BY TH BANK BEFORE THE CHIEF JUDICIAL MAGISTRATE, KASARAGOD