Kerala High Court
Binu T vs Karamana Co-Operative Bank Ltd on 23 February, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
TUESDAY, THE 23RD DAY OF FEBRUARY 2021 / 4TH PHALGUNA, 1942
WP(C).No.3943 OF 2021(P)
PETITIONER:
BINU T.
AGED 45 YEARS
S/O.THANKAN, TC 19/1095, THERIVILA VEEDU,
KAMARAJ RESIDENCE, THAMALAM, POOJAPPURA P.O.,
THIRUVANANTHAPURAM.
BY ADV. SRI.LATHEESH SEBASTIAN
RESPONDENTS:
1 KARAMANA CO-OPERATIVE BANK LTD
NO.1761, KARAMANA P.O., THIRUVANANTHAPURAM-695 002,
REPRESENTED BY ITS GENERAL MANAGER.
2 AUTHORIZED OFFICER,
UNDER THE SARFAESI ACT, THIRUVANANTHAPURAM
CO-OPERATIVE URBAN BANK LTD. NO.1761, KARAMANA P.O.,
THIRUVANANTHAPURAM-695 002.
3 THE BRANCH MANAGER,
MAIN BRANCH, KARAMANA CO-OPERATIVE URBAN BANK LTD.
NO.1761, KARAMANA P.O., THIRUVANANTHAPURAM-695 002.
R1-3 BY ADV. SRI.R.S.KALKURA
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C) No.3943/2021 2
JUDGMENT
Dated this the 23rd day of February 2021
By this writ petition, the petitioner seeks the following
reliefs:
1. Call for the entire records relating to Ext.P1 to P3
from the respondents.
2. Issue a writ of mandamus or any other writ,
directions or order directing the respondents to
grant instalment facility to discharge the liability of
the petitioner and to regularize the loan account of
the petitioner with the respondents on such terms
as fixed by this Hon'ble court in the facts and
circumstances of the case.
2. Heard both sides.
3. Learned counsel for the petitioner argued that the
petitioner along with his wife had availed a loan of Rs.10 lakhs
from the 3rd respondent. But due to Covid-19 pandemic and other
financial problems, the petitioner could not run the business
properly which has affected the repayment schedule and that is
how the loan account was declared as non performing asset and
proceedings are initiated under the SARFAESI Act. It is further
argued that the petitioner is willing to clear the entire overdue
amount in suitable instalments as term of the loan is yet to expire.
4. Learned counsel for the respondents argued that the
overdue amount of loan is Rs.3,59,882/- and the term of the loan
is yet to complete. According to him, eight instalments be granted
to the petitioner.
5. Having considered the submissions made across the bar,
I am of the considered opinion that the writ petition deserves to
be disposed of with the following directions:
The petitioner to clear the entire overdue amount and other
charges due and payable to the respondents in ten equated
successive monthly instalments commencing from 26.02.2021. In
addition, the petitioner should also pay the EMIs regularly. If the
petitioner complies with this direction, the respondents should
keep coercive action under the SARFAESI Act initiated against the
petitioner in abeyance. A single default in compliance with this
direction shall entail the respondents to continue with the action
under the SARFAESI Act. No further extension of time shall be
granted to the petitioner for complying this direction.
This writ petition is disposed of as above.
A.M.BADAR
JUDGE
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APPENDIX
PETITIONER'S EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE RELEVANT PAGE OF PASSBOOK
OF THE PETITIONER WITH RESPECT TO THE LOAN.
EXHIBIT P2 TRUE COPY OF THE NOTICE OF THE ADVOCATE
COMMISSIONER DATED 09.02.2021.
EXHIBIT P3 TRUE COPY OF THE REPRESENTATION OF THE
PETITIONER DATED 11.02.2021.
RESPONDENTS' EXHIBITS: NIL.
True Copy
P.S to Judge
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