Kerala High Court
Naseema vs The Authorized Officer on 1 March, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
MONDAY, THE 01ST DAY OF MARCH 2021 / 10TH PHALGUNA, 1942
WP(C).No.1785 OF 2021(W)
PETITIONER/S:
NASEEMA, AGED 58 YEARS
W/O.YOUSUF HAJI, RESIDING AT AL BUSHRA HOUSE,
PAIVALIGE VILLAGE AND POST, MANJESHWAR TALUK,
KASARAGOD DISTRICT-671 348.
BY ADVS.
SRI.T.MADHU
SMT.C.R.SARADAMANI
SRI.SHAHID AZEEZ
RESPONDENT/S:
1 THE AUTHORIZED OFFICER
CANARA BANK, REGIONAL OFFICE, IIND FLOOR,
SYNDICATE BANK BUILDINGS, BANK ROAD,
KASARAGOD-671 121.
2 THE CANARA BANK UPPALA BRANCH,
FORMERLY SYNDICATE BANK, UPPALA BRANCH, BEKUR P.O.,
KASARAGOD DISTRICT-671 322, REPRESENTED BY ITS
MANAGER.
SRI. M. GOPIKRISHNAN NAMBIAR - STANDING COUNSEL
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.1785 OF 2021 2
JUDGMENT
Dated this the 1st day of March 2021
Heard both sides.
2. Learned counsel appearing for the petitioner submits that the
petitioner is not challenging the action taken by the respondents under
the Securitisation and Reconstruction of Financial Assets and Enforcement
of Securities Interest Act (hereinafter referred to as 'the SARFAESI Act'),
but she wants to clear the entire overdue amount of her loan account
with interest and charges. Learned counsel for the petitioner further
submits that possession of the secured asset has already been taken over
by the respondents and the petitioner is wiling to repay the overdue
amount in five equated successive monthly instalments, apart from an
amount of Rs.6,00,000/- (Rupees six lakhs only) in lumpsum by the end
of March, 2021. In addition , according to the learned counsel for the
petitioner, the petitioner will pay the regular instalments.
3. Learned Standing Counsel appearing for the respondents
opposed the petition by contending that the petitioner had availed two
term loans and the outstanding amount as on 21.01.2021 is
Rs.41,35,800/- whereas the overdue amount of loans taken by the
petitioner is Rs.11,07,700/-. She prays for dismissal of the petition.
4. Considering the fact that the petitioner is willing to repay the
entire overdue amount with interest and charges and that possession of
the secured asset has already been taken by the respondents, so also
that the respondents are not interested in recovering the amount due and
payable by the petitioner towards the financial assistance availed by her,
the writ petition is disposed of with the following directions:-
The petitioner is directed to pay an amount of Rs.6,00,000/-
(Rupees six lakhs only) by the end of March, 2021 and she should pay the
balance overdue amount with interest and charges in five equated
successive monthly instalments commencing from 07.04.2021. In
addition, the petitioner should also to pay the regular instalments. If the
petitioner complies with this direction, the respondents shall keep the
coercive action initiated by them under the SARFAESI Act in abeyance.
Failure to comply with this direction shall entail the respondents to
continue with the coercive action initiated against the petitioner. No
further extension of time shall be granted for compliance of this order.
After paying the entire overdue amount with interest and charges apart
from regular installments, the respondents may consider the handing
over the possession of the secured asset to the petitioner.
The writ petition is disposed of, accordingly.
Sd/-
A.M.BADAR
ajt JUDGE
APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED
02.01.2019 ISSUED BY THE AUTHORIZED
OFFICER, SYNDICATE BANK, UPPALA BRANCH.
