Bindu K.N vs The Branch Manager
2022 Latest Caselaw 4675 Ker

        IN THE HIGH COURT OF KERALA AT ERNAKULAM
                        PRESENT
         THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
 FRIDAY, THE 22ND DAY OF APRIL 2022 / 2ND VAISAKHA, 1944
                WP(C) NO. 14244 OF 2022
PETITIONERS:

    1    BINDU K.N., AGED 39 YEARS
         W/O. BABURAJAN,
         KATTUKUDI HOUSE, IRAPURAM P.O.,
         ERNAKULAM-683 541.
    2    BABURAJAN K.R., AGED 46 YEARS
         S/O. RAJAN, KATTUKUDI HOUSE,
         IRAPURAM P.O., ERNAKULAM-683541.
         BY ADVS.
         KRISHNADAS P. NAIR
         K.L.SREEKALA
         HARIDAS P.NAIR
         M.A.VINOD
         M.RAJESH KUMAR
         SHINTO THOMAS


RESPONDENTS:

    1    THE BRANCH MANAGER
         UNION BANK OF INDIA, KOLENCHERY BRANCH (3427),
         DENHIL BUILDING, NH-49, PERUMBAVOOR LINK ROAD,
         KOLENCHERY-682311.
    2    THE CHIEF MANAGER AND AUTHORISED OFFICER,
         UNION BANK OF INDIA, REGIONAL OFFICE,
         DENHIL BUILDING, NH-49,
         PERUMBAVOOR LINK ROAD, KOLENCHERY-682311.
         SRI.A.S.P.KURUP, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 22.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
 WP(C) NO.14244 of 2022
                                                 2



                                    VIJU ABRAHAM, J
                              .......................................
                               W.P.(C) No.14244 of 2022
                           ................................................
                         Dated this the 22 nd day of April, 2022


                                          JUDGMENT

Petitioners availed a loan to the tune of Rs.17 Lakhs

from the respondent Bank and the same has now been

defaulted. Ext.P1 is the possession notice issued

under Section 13(2) of the Securitization and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002.

2. During the course of the hearing, petitioners sought

for an opportunity to repay the entire overdue amount

in instalments and to obtain regularisation of the loan

account.

3. I have heard Sri.Krishnadas P.Nair, the learned

counsel for the petitioners as well as Sri.A.S.P.Kurup,

the learned Standing Counsel for the respondents.

4. The learned Standing Counsel, upon instructions,

submitted that the total overdue amount is

Rs.7,20,000/- and the respondent Bank is willing to WP(C) NO.14244 of 2022

accept repayment of the overdue amount in limited

instalments and to regularise the loan account.

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 petitioners to pay the

entire overdue amount of Rs.7,20,000/- in '9' equated

monthly instalments and to have the loan account

regularised.

6. Accordingly, there will be a direction to the

respondent-Bank to accept repayment of the entire

overdue amount of Rs.7,20,000/- along with bank

charges and to regularise the loan account of the

petitioners on the following conditions:

(i). The overdue amount of Rs.7,20,000/- along

with bank charges shall be repaid in '9'

equated monthly instalments.

(ii). The first instalment shall be paid on or

before 16.05.2022 and the remaining

instalments shall be paid on or before the 16 th

day of every succeeding month.

(iii). Petitioners shall continue to pay the

regular EMI's along with the instalments WP(C) NO.14244 of 2022

directed above.

(iv). In the event of default of any one

instalment, the respondent bank shall be

entitled to proceed in accordance with law.

(v) In order to enable the petitioners to repay

the entire amounts, all coercive proceedings

initiated against the petitioners shall be kept in

abeyance.

The writ petition is disposed of.

Sd/-

VIJU ABRAHAM, JUDGE

AMV/22/04/2022 WP(C) NO.14244 of 2022

APPENDIX OF WP(C) 14244/2022

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT DATED 24.1.2020 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS. Exhibit P2 A TRUE COPY OF THE POSSESSION NOTICE DATED 17.2.2022 UNDER RULE 8(1) OF SECURITY INTEREST (ENFORCEMENT) RULES AFFIXED BY THE 1ST RESPONDENT ON THE WALL OF THE PETITIONER'S HOUSE. Exhibit P3 A TRUE COPY OF THE REQUEST LETTER SENT BY THE PETITIONERS TO THE MANAGER OF THE UNION BANK DATED 14.3.2022.

Exhibit P4 THE TRUE COPY OF THE REPLY NOTICE SENT BY 1ST RESPONDENT TO PETITIONERS DATED 16.3.2022.

Exhibit P5 A TRUE COPY OF THE COMMISSION NOTICE SENT BY THE ADVOCATE COMMISSION TO PETITIONERS DATED 6.4.2022.

Exhibit P6 THE TRUE COPY OF THE REQUEST LETTER SENT BY THE PETITIONERS TO THE 1ST RESPONDENT DATED 8.4.2022.

Exhibit P7 THE TRUE COPY OF THE POSTAL RECEIPT DATED 8.4.2022.

Exhibit P8 THE TRUE COPY OF THE REQUEST LETTER SENT BY THE PETITIONERS TO THE 1ST RESPONDENT DATED 16.4.2022.

Exhibit P9 THE TRUE COPY OF THE POSTAL RECEIPT DATED 18.4.2022.

RESPONDENTS EXHIBITS : NIL

TRUE COPY