Omana Amma R vs The Manager
2022 Latest Caselaw 4515 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
               THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
    TUESDAY, THE 19TH DAY OF APRIL 2022 / 29TH CHAITHRA, 1944
                       WP(C) NO. 14155 OF 2022
PETITIONER:

          OMANA AMMA R.,AGED 58 YEARS
          ADIUSHUS , KURIYOTTUKONAM, MINNAMKOD, PEYAD PO.,
          THIRUVANANTHAPURAM 695 571.

          BY ADV S.SOUMYA ISSAC

RESPONDENTS:

    1     THE MANAGER,
          KERALA STATE FINANCIAL ENTERPRISES LIMITED,
          BHADRATHA, MUSEUM ROAD, THRISSUR 680 020.
    2     KERALA STATE FINANCIAL ENTERPRISES LIMITED,
          REPRESENTED BY ITS BRANCH MANAGER, BRANCH 424,
          PEYAD BRANCH, SIVANANDA COMPLEX,
          THIRUVANANTHAPURAM 695 573.

OTHER PRESENT:

          ADV.P.C. ANILKUMAR-SC



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
19.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No.14155 of 2022                            2




                                   VIJU ABRAHAM, J.
                   .................................................................
                              W.P.(C) No.14155 of 2022
                   .................................................................
                       Dated this the 19th day of April, 2022

                                         JUDGMENT

The petitioner has availed financial credit facility from the

respondent. Since there was default in payment of the same, proceedings

under the Securitization and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 were initiated as is evident from

Ext.P1.

2. During the course of the hearing, petitioner sought for an

opportunity to repay the entire overdue amount in instalments and to

obtain regularisation of the loan account.

3. I have heard Smt.Soumya Issac, the learned counsel

appearing for the petitioner as well as Sri.Anil Kumar P.C., the learned

Standing Counsel for the respondent.

4. The learned Standing Counsel, upon instructions, submitted

that the total overdue amount as on date is Rs.3,70,645/- and the

respondent is willing to accept repayment of the overdue amount in limited

instalments. The learned Standing Counsel also submitted that the

respondent is willing to regularise the loan if the petitioner pays the

overdue amount in 15 equated monthly instalments.

5. Considering the facts and circumstances of the case, I am of

the view that the this writ petition itself can be disposed of, permitting the

petitioner to pay the entire overdue amount of Rs.3,70,645/- in

instalments and to have the loan regularised.

6. Accordingly, there will be a direction to the respondent to

accept repayment of the entire overdue amount of Rs.3,70,645/- along

with applicable charges and to regularise the loan of the petitioner on the

following conditions:

(i) The overdue amount of Rs.3,70,645/- (Rupees three lakhs seventy thousand six hundred and fortyfive only) along with applicable charges shall be repaid in '15' equated monthly instalments starting from 30.05.2022.

(ii) Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

(iii) In the event of default of any one of the instalments, the respondent shall be entitled to proceed in accordance with law.

(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings initiated against the petitioner shall be kept in abeyance.

The writ petition is disposed of.

Sd/-

VIJU ABRAHAM JUDGE cks

APPENDIX OF WP(C) 14155/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE SEND BY THE RESPONDENT TO THE PETITIONER.