Abdul Kareem C vs The South Indian Bank Ltd
2021 Latest Caselaw 18917 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
      THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
 FRIDAY, THE 10TH DAY OF SEPTEMBER 2021 / 19TH BHADRA, 1943
                    WP(C) NO. 18514 OF 2021
PETITIONER/S:

            ABDUL KAREEM C
            AGED 50 YEARS
            S/O KUNJAMMED, RESIDING AT POYILIL, CHIRAKKAL
            HOUSE, VELIMANNA (PO), THAMARASSERY,
            KOZHIKODE-673572.
            BY ADV NIHARIKA HEMA RAJ


RESPONDENT/S:

            THE SOUTH INDIAN BANK LTD.
            REPRESENTED BY THE AUTHORIZED OFFICER, REGIONAL
            OFFICE, HAPPY TOWER, VAIKOM MUHAMMED BASHEER
            ROAD, MANANCHIRA,
            KOZHIKODE.

OTHER PRESENT:

            SRI. SUNIL SHANKER - SC



     THIS    WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION    ON   10.09.2021,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C).No. 18514 of 2021


                                    2


               BECHU KURIAN THOMAS, J
              -----------------------------------------
                 W.P.(C).No. 18514 of 2021
      --------------------------------------------------------
      Dated this the 10th day of September, 2021


                              JUDGMENT

Petitioner confines his relief to a solitary one- an

opportunity to clear the liability in instalments. Petitioner

was granted an overdraft facility by the respondent Bank and

his residential property of 21.99 cents was mortgaged as

collateral security. In the course of the dealings with the

respondent, petitioner committed default in repayment and

the Bank initiated proceedings under the SARFAESI Act, as

evident from Exts.P1 and P3.

2. The learned counsel for the petitioner Adv.Niharika

Hema Raj submitted that if a breathing time is granted to the

petitioner, he will clear off the entire liabilities, especially,

since the petitioner is trying his level best to sell one of his

valuable properties to clear this loan. The learned counsel for W.P.(C).No. 18514 of 2021

the petitioner beseeched this Court that all earnest efforts are

being taken by the petitioner to clear the liabilities and if an

indulgence is shown in the nature of a breathing time,

petitioner may revive fully.

3. Adv.Sunil Shankar, the learned counsel appearing

on behalf of the respondent submits that as on date an amount

Rs.56,56,567/- is due from the petitioner and also that the

proceedings before the Debt Recovery Tribunal is pending. It

was also submitted that though the petitioner is on the verge

of being dispossessed pursuant to the proceedings initiated by

the Bank, they are willing to accept repayment in instalments,

as a last opportunity, provided petitioner clears the entire loan

by 31.03.2021.

4. On an appreciation of the circumstances arising in

the case, I am of the view that, if the petitioner shows his

earnestness and bonafides in his attempt to repay the amount

by paying a sum of Rs.2.5 lakhs on or before 30.09.2021 and a

further sum of Rs.2.5 lakhs by 30.10.2021, the Bank ought to

permit the petitioner to repay the remaining amount in five W.P.(C).No. 18514 of 2021

equated monthly instalments. If the petitioner tenders the

first two instalments as directed above, the Bank shall accept

the balance amounts in five equated monthly instalments, with

the first instalment of the five, commencing on 30.11.2021.

5. Till the period stipulated above is completed the

Bank shall not proceed to dispossess the petitioner. However,

in the event of default of any one instalment as directed

above, the respondent Bank shall be entitled to proceed in

accordance with law from the stage at which the proceedings

were intercepted by this Court.

It is also clarified that, notwithstanding the above, if the

petitioner approaches the Bank with any reasonable proposal

for a One Time Settlement, the Bank shall consider the same

in all earnestness.

Sd/-

BECHU KURIAN THOMAS JUDGE Dxy W.P.(C).No. 18514 of 2021

APPENDIX OF WP(C) 18514/2021

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE DATED 08.11.2017 ISSUED BY THE RESPONDENT TO THE PETITIONER UNDER SECTION 13(2) OF THE SARFAESI ACT Exhibit P2 A TRUE COPY OF THE SAID NOTICE DATED 25.06.2019 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER Exhibit P3 A TRUE COPY OF THE SAID M.C.NO.185 OF 2019 FILED BY THE RESPONDENT BEFORE THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE Exhibit P4 A TRUE COPY OF THE AFFIDAVIT DATED NIL FILED BY THE RESPONDENT BEFORE THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE Exhibit P5 A TRUE COPY OF THE ORDER OF THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE DATED 15.05.2019 IN M.C.NO.185 OF 2019 Exhibit P6 A TRUE COPY OF THE JUDGMENT DATED 08.11.2019 OF THIS HON'BLE COURT IN W.P(C)N0.27341 OF 2019 Exhibit P7 A TRUE COPY OF THE SAID NOTICE DATED 18.11.2019 ISSUED TO THE PETITIONER BY THE ADVOCATE COMMISSIONER APPOINTED IN M.C.N0.185 OF 2019 OF THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT Exhibit P8 A TRUE COPY OF THE SAID S.A.NO.349 OF 2019 DATED 20.11.2019 FILED BEFORE THE HON'BLE DEBT RECOVERY TRIBUNAL-I,KOCHI Exhibit P9 A TRUE COPY OF THE SAID ORDER DATED 13.07.2021 OF THE HON'BLE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM IN I.A.NO.762 OF W.P.(C).No. 18514 of 2021

2021 IN O.A.NO.90 OF 2021.WITH TYPED COPY.