Kerala High Court
Prathapan vs The Mattanchery Mahajanik ... on 7 September, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
TUESDAY, THE 7TH DAY OF SEPTEMBER 2021 / 16TH BHADRA, 1943
WP(C) NO. 16812 OF 2021
PETITIONERS:
1 PRATHAPAN
AGED 31 YEARS
S/O. NIKARTHIL KUMARAN, NIKARTHIL HOUSE, AMBEDKAR ROAD,
PARUTHITHARA COLONY, EDAKOCHI P.O., ERNAKULAM DISTRICT-
682010.
2 SHEEBA PRATHAPAN,
W/O. PRATHAPAN, NIKARTHIL HOUSE, AMBEDKAR ROAD,
PARUTHITHARA COLONY, EDAKOCHI P.O., ERNAKULAM DISTRICT-
682010.
3 ANOOP N.P.,
S/O. PRATHAPAN, NIKARTHIL HOUSE, AMBEDKAR ROAD,
PARUTHITHARA COLONY, EDAKOCHI P.O., ERNAKULAM DISTRICT-
682010.
BY ADVS.
G.HARIHARAN
PRAVEEN.H.
K.S.SMITHA
V.R.SANJEEV KUMAR
RESPONDENTS:
1 THE MATTANCHERY MAHAJANIK CO-OPERATIVE URBAN BANK LTD.
NO.665,
P.O.BOX NO.304, PALLIARAKAVU ROAD, KOCHI, ERNAKULAM
DISTRICT-682002, REPRESENTED BY ITS MANAGER.
2 JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL),
CIVIL STATION, KAKKANAD, ERNAKULAM DISTRICT-682030.
3 REGISTRAR OF CO-OPERATIVE SOCIETIES,
OFFICE OF THE REGISTRAR OF CO-OPERATIVE SOCIETIES,
JAWAHAR SAHAKARANA BHAVAN, DPI JUNCTION, THYCAUD P.O.,
KERALA-695014.
4 STATE OF KERALA
REPRESENTED BY THE PRINCIPAL SECRETARY TO GOVERNMENT,
WP(C) NO. 16812 OF 2021
2
DEPARTMENT OF CO-OPERATION, SECRETARIAT,
THIRUVANANTHAPURAM-695001.
5 RESERVE BANK OF INDIA
LISSIE JUNCTION, ERNAKULAM NORTH, ERNAKULAM-682018,
REPRESENTED BY ITS AUTHORISED OFFICER.
BY ADVS.
GEORGE POONTHOTTAM (SR.)
NISHA GEORGE
OTHER PRESENT:
NISHA GEORGE, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 07.09.2021, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 16812 OF 2021
3
BECHU KURIAN THOMAS, J.
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WP(C) No. 16812 of 2021
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Dated this the 7th day of September, 2021
JUDGMENT
The petitioner had availed an overdraft facility of Rs.32
lakhs from the first respondent Bank. While repaying the said
liability, default was committed, resulting in proceedings under
the SARFAESI Act being initiated against the petitioner.
Petitioner seeks regularization of the overdraft account by
repaying the overdue amount.
2. The learned Counsel for the first respondent Bank,
Adv.Nisha George upon instructions, submit that taking into
consideration the conduct of the petitioner, the bank is willing
to offer a limited instalment facility to clear the overdue
amount to enable the first respondent to renew the overdraft
facility with the petitioner instead of regularizing it.
3. I have heard the learned Counsel for the petitioner
as well as the respondents.
4. Having regard to the circumstances of the case and
WP(C) NO. 16812 OF 2021
taking into consideration the present situation, the offer of the
Bank to renew the overdraft facility on the petitioner clearing
the loan account in few instalments seems to be reasonable
and fair.
5. Accordingly, there will be a direction to the first
respondent to accept the overdue amount of Rs.6,51,725/- in
four equated monthly instalments, the first of which to
commence on 30.09.2021. The regular monthly instalments
shall also be paid along with the instalments as directed above.
In the event of default of any one instalment, the respondent,
Bank shall be entitled to proceed in accordance with law.
On completion of the payment of overdue amount as
directed above the first respondent shall renew the overdraft
facility in favor of the petitioner.
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AJ/07.09.2021
WP(C) NO. 16812 OF 2021
APPENDIX OF WP(C) 16812/2021
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 16.4.2021
ISSUED BY THE 1ST RESPONDENT BANK.
Exhibit P2 TRUE COPY OF THE CIRCULAR NO.RBI/2019-
20/186 DATED 27.3.2020 ISSUED BY THE 5TH
RESPONDENT AS A PART OF COVID-19
REGULATORY PACKAGE.
Exhibit P3 TRUE COPY OF THE CIRCULAR NO.RBI/2020-
21/16 ON 6.8.2020 ISSUED BY THE 5TH
RESPONDENT.
Exhibit P4 TRUE COPY OF THE RELIEF PACKAGE
NOTIFICATION ISSUED BY THE RESERVE BANK OF
INDIA ON 23.5.2020.
Exhibit P5 TRUE COPY OF CIRCULAR NO.47/2020 DATED
28.5.2020 ISSUED BY THE 3RD RESPONDENT.
Exhibit P6 TRUE COPY OF CIRCULAR NO.01/2021 DATED
1.1.2021 ISSUED BY THE 3RD RESPONDENT.
Exhibit P7 TRUE COPY OF THE POSSESSION NOTICE ISSUED
BY THE 1ST RESPONDENT AGAINST THE
PETITIONER ON 7.8.2021.
Exhibit P8 TRUE COPY OF NOTIFICATION NO.RBI/2021-
22/31 DOR.STR.REC.11/21/04/048/2021-22
ISSUED ON 5.5.2021 BY THE 5TH RESPONDENT.
Exhibit P9 TRUE COPY OF THE NOTIFICATION NO.RBI/2021-
22/32DOR.STR.REC.12/21/04/048/2021-22
ISSUED ON 5.5.2021 BY THE 5TH RESPONDENT.
Exhibit P10 TRUE COPY OF THE STATEMENT DATED 5.5.2021
ISSUED BY THE GOVERNOR OF THE RESERVE BANK
OF INDIA.
