Mrs Souminiamma vs Kerala Bank
2022 Latest Caselaw 4732 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
              THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
     TUESDAY, THE 26TH DAY OF APRIL 2022 / 6TH VAISAKHA, 1944
                       W.P.(C) NO.14390 OF 2022
PETITIONER:

          MRS SOUMINIAMMA,
          AGED 53 YEARS, W/O. SHANKARAN THREPPAMAL,
          KUZHIMANNIL HOUSE,
          MENHANNIAM P.O., KOZHIKODE DISTRICT,
          PIN-673 525.

          BY ADVS.T.B.SHAJIMON
                  GOVINDU P.RENUKADEVI


RESPONDENTS:

    1     KERALA BANK (ORDINARILY KNOWN AS KOZHIKODE
          DISTRICT CO-OPERATIVE BANK LTD.),
          PERAMBRA BRANCH, KOZHIKODE DISTRICT,
          PIN-673 525.

    2     THE AUTHORIZED OFFICER,
          KERALA BANK, P.B.NO.503,
          KALLAI ROAD, KOZHIKODE,
          KERALA, PIN-673 003.

  R1&R2   ADV. P.C. SASIDHARAN, STANDING COUNSEL, KERALA BANK

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                                      -2-
W.P.(C) NO.14390 OF 2022


                                 JUDGMENT

The petitioner is challenging the recovery proceedings

initiated against her under the Securitisation and

Reconstruction of Financial Assests and Enforcement of

Security Interest Act, 2002 (SARFAESI Act). The petitioner

has availed a credit facility from the respondent Bank and

consequent to the default committed by the petitioner in

repaying the amount, the said account is declared as NPA.

Accordingly, recovery proceedings have been initiated which

is impugned in this writ petition.

2. The learned counsel appearing for the Bank

submits that as on date, an amount of Rs.1,31,415/- is in

arrears towards instalments. It is submitted by the learned

counsel for the Bank upon instructions that they are

amenable for granting an opportunity to the petitioner to

regularise the loan account by paying the entire instalment

overdue along with interest in reasonable monthly

instalments.

In such circumstances, this writ petition is disposed of

granting an opportunity to the petitioner to regularise the

W.P.(C) NO.14390 OF 2022

loan account by paying the instalment overdue as mentioned

above along with interest due thereon in 8 equal monthly

instalments commencing from 15th May, 2022 onwards. The

subsequent instalments shall be paid by the petitioner on 15 th

day of every month. Along with the aforesaid payment,

regular monthly instalments shall also be paid. In case of

default on the part of the petitioner in payment of any of the

instalments including regular monthly instalments, the

aforesaid facility shall stand cancelled, upon which the Bank

will be at liberty to proceed with the recovery proceedings.

Subject to the above direction, the recovery proceedings

against the petitioner is directed to be kept in abeyance.

Sd/-

ZIYAD RAHMAN A.A.

JUDGE bpr

W.P.(C) NO.14390 OF 2022

APPENDIX

PETITIONER'S EXHIBITS

EXHIBIT P1 THE PHOTOSTAT COPY OF NOTICE UNDER SECTION 13(2) OF SARFAESI ACT, 2002.

EXHIBIT P2 THE PHOTOSTAT COPY OF NOTICE UNDER SECTION 13(4) OF SARFAESI ACT, 2002.