Rahmathulla vs Trivandrum Urban Co-Operative ...
2021 Latest Caselaw 2589 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

      FRIDAY, THE 22ND DAY OF JANUARY 2021 / 2ND MAGHA, 1942

                       WP(C).No.1549 OF 2021(P)


PETITIONER:

               RAHMATHULLA
               AGED 46 YEARS
               S/O. SALIAH MOULAVI, TC X/1640, DHARUSSALAM,
               VATTIYOORKAVU P.O, THIRUVANANTHAPURAM.

               BY ADVS.
               SRI.R.SUNIL KUMAR
               SMT.A.SALINI LAL

RESPONDENTS:

      1        TRIVANDRUM URBAN CO-OPERATIVE BANK - LTD 1959,
               REPRESENTED BY ITS MANAGER, MANACADU BRANCH, MANACADU
               P.O,THIRUVANANTHAPURAM.

      2        THE AUTHORIZED OFFICER,
               TRIVANDRUM URBAN CO-OPERATIVE BANK-LTD 1959, HEAD
               OFFICE, MG ROAD, TRIVANDRUM-695 001



               SC- SMT. NISHA GEORGE

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.1549 OF 2021(P)

                                   2

                            JUDGMENT

Dated this the 22nd day of January 2021

Heard both sides.

2. The petitioner along with his wife has taken a housing loan

amounting to Rs.15,00,000/- in the year 2016 from the 1 st

respondent Bank. Now, the petitioner wants to repay the overdue

amount of loan in installments apart from payment of regular EMI.

3. The learned counsel for the respondent argued that total

overdue amount of loan as on 21.01.2021 is Rs.10,56,967/-,

whereas total amount of outstanding loan is Rs.20,65,320/-. The

term of the loan is upto the year 2031. With this, the learned

counsel for the respondent Bank submits that the auction is

scheduled to be held on 15/02/2021 as the respondent has taken

action according to the provisions of the SARFAESI Act. She however

submits that if the petitioner clears the overdue amount of loan in

ten equated monthly installments apart from regular payment of

EMI, the coercive action for recover shall not be taken by the Bank.

Considering the facts and circumstances of the instant case and

keeping in mind, the fact that the petitioner has lost his job in Gulf

country resulting in financial crunch, the petition is disposed of with

the following directions:

WP(C).No.1549 OF 2021(P)

a. The petitioner to clear entire overdue amount of housing

loan in ten equated monthly installments starting from 01.02.2021

apart from regular payment of EMI.

b. On the petitioner following these directions, the

respondents shall keep the coercive action in abeyance. After payment

of 1st installment, the petitioner be permitted to remove his belongings

from the secured asset.

c. Needless to mention that a single default in complying with

these directions shall permit the respondent to continue with the

action under the SARFAESI Act.

d. Considering the facts of the case and the relief granted, no

further extension of time either for payment of monthly installment or

for payment of EMI shall be granted in future.

e. On clearance of entire overdue amount, the respondent

Bank to restore the physical possession of the secured asset to the

petitioner.

Sd/-

A.M.BADAR Nsd //true copy// JUDGE PA to Judge WP(C).No.1549 OF 2021(P)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE LETTER DATED 25.10.2018 ALONG WITH TRANSILATION.

EXHIBIT P2 TRUE COPY OF THE POSSESSION NOTICE DATED 11.3.2019.

EXHIBIT P3 TRUE COPY OF THE AUCTION NOTICE DATED 4.1.2021.