Ajitha N T vs Union Bank Of India
2022 Latest Caselaw 4735 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.14393 OF 2022
PETITIONER:

          AJITHA N.T.,
          AGED 40 YEARS, D/O. M.P.THANKAPPAN,
          NAICKAPARAMBIL HOUSE,
          VALLAMKULAM P.O., ERAVIPEROOR,
          THIRUVALLA,PIN-689 541.

          BY ADV E.V.MOLY



RESPONDENT:

          UNION BANK OF INDIA,
          THIRUVALLA II (THIRUVALLA EAB) BRANCH,
          NAMBRAMSSERIL BUILDINGS, KACHERI JUNCTION,
          MARKET ROAD, THIRUVALLA -689 101
          REPRESENTED BY ITS AUTHORIZED OFFICER.

          ADV.A.S.P. KURUP, STANDING COUNSEL, UNION BANK OF INDIA

     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.14393 OF 2022


                                 JUDGMENT

The petitioner is challenging the recovery proceedings

initaated 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.3,41,000/- 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 loan

account by paying the instalment overdue as mentioned above

W.P.(C) NO.14393 OF 2022

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.14393 OF 2022

APPENDIX

PETITIONER'S EXHIBITS

EXHIBIT P1 TRUE COPY OF POSSESSION NOTICE DATED 22.02.2022.

EXHIBIT P2 TRUE COPY OF THE SALE NOTICE DATED 19.03.2022.