Kerala High Court
Ramakrishnan vs The Branch Manager on 26 April, 2022
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
WP(C) NO. 13901 OF 2022
PETITIONERS:
1 RAMAKRISHNAN
AGED 71 YEARS
S/O. THEYYAN, RESIDING AT KOLATHUR HOUSE,
KARIYANNUR DESOM, KARIYANNOOR VILLAGE, KUNNAMKULAM
TALUK, ERUMAPETTY POST, TRISSUR DISTRICT.
2 SUBHASHINI,
AGED 64 YEARS
W/O. RAMAKRISHNAN, RESIDING AT KOLATHUR HOUSE,
KARIYANNUR DESOM, KARIYANNOOR VILLAGE, KUNNAMKULAM
TALUK, ERUMAPETTY POST, TRISSUR DISTRICT.
BY ADV T.N.MANOJ
RESPONDENTS:
1 THE BRANCH MANAGER
TRISSUR DISTRICT CO-OPERATIVE BANK,
CO-OPERATIVE CENTENARY BUILDINGS, KOVILAKATHUPADAM,
THIRUVANMBADY P.O., TRISSUR, PIN-680022.
2 THE AUTHORIZED OFFICER,
TRISSUR DISTRICT CO-OPERATIVE BANK,
CO-OPERATIVE CENTENARY BUILDINGS, KOVILAKATHUPADAM,
THIRUVANMBADY P.O., TRISSUR, PIN-680022.
BY ADV.
SRI.P.C.SASIDHARAN - S.C.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 13901 OF 2022
2
JUDGMENT
The petitioners are challenging the recovery proceedings
initiated against them under the Securitisation and Reconstruction
of Financial Assets and Enforcement of Security Interest Act, 2002
(SARFAESI Act). The petitioners have availed a credit facility from
the respondent Bank and consequent to the default committed by
the petitioners 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.10,36,181/- is in arrears. It is submitted
by the learned standing counsel for the Bank upon instructions that
they are amenable for granting an opportunity to the petitioners to
repay the said amount in reasonable monthly instalments.
In such circumstances, this writ petition is disposed of
granting an opportunity to the petitioners to clear the entire amount
along with interest, by paying 50% of the amount of arrears on or
before 26.06.2022 and the balance in 10 equal monthly instalments
WP(C) NO. 13901 OF 2022
commencing from 26.07.2022 onwards. The subsequent instalments
shall be paid by the petitioners on 26th day of every month. In case
of default on the part of the petitioners in payment of any of the
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 petitioners are directed to be kept in
abeyance.
Sd/-
ZIYAD RAHMAN A.A.
JUDGE
scs
WP(C) NO. 13901 OF 2022
APPENDIX OF WP(C) 13901/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 13.4.17
ISSUED BY THE 2ND RESPONDENT ON THE
PETITIONERS, UNDER SECTION 13(2) OF
THE SECURITIZATION AND RE CONSTRUCTION
OF FINANCIAL ASSETS AND ENFORCEMENT OF
SECURITY INTEREST ACT 2002.
Exhibit P2 TRUE COPY OF THE NOTICE DATED
11.3.2020 SERVED ON THE PETITIONERS,
BY THE 2ND RESPONDENT RESORTING TO THE
PROVISIONS OF SECTION 13(4) OF THE
SECURITIZATION AND RECONSTRUCTION OF
FINANCIAL ASSETS AND ENFORCEMENT OF
SECURITY INTEREST ACT 2002, R/W RULE 9
OF THE RULES.
Exhibit P3 TRUE COPY OF THE RECEIPT DATED
17.3.2020 EVIDENCING PAYMENT OF AN
AMOUNT OF RUPEES 3,00,000/- WITH THE
1ST RESPONDENT.
Exhibit P4 TRUE COPY OF THE RECEIPT DATED
17.3.2020 EVIDENCING PAYMENT OF AN
AMOUNT OF RUPEES 3,50,000/- WITH THE
1ST RESPONDENT.
Exhibit P5 TRUE COPY OF THE RECEIPT DATED
31.12.2020 EVIDENCING PAYMENT OF AN
AMOUNT OF RUPEES 6,00,000/- WITH THE
1ST RESPONDENT.
