Joseph Das vs Kerala State Co-Operative Bank ...
2022 Latest Caselaw 4765 Ker

W.P.C.No.14563/22                     1


               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. 14563 OF 2022
PETITIONER:
           JOSEPH DAS,
           AGED 50 YEARS,
           S/O.SEBASTIAN JOSEPH, EDAMUKKIL HOUSE, POLLETHAI P.O.,
           KALAVOOR VILLAGE, AMBALAPUZHA TALUK, ALAPPUZHA -688
           522.
            BY ADVS.GEORGE MATHEW
            PRAVEEN S.
            SUNIL KUMAR A.G
            DIPU JAMES
            MATHEW K.T.
            GEORGE K.V.
            STEPHY K REGI


RESPONDENTS

1          KERALA STATE CO-OPERATIVE BANK LTD. (KERALA BANK),
           REP.BY ITS MANAGING DIRECTOR & CHIEF EXECUTIVE
           OFFICER,
           COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM - 695 033.
2          THE AUTHORIZED OFFICER & REGIONAL MANAGER, THE KERALA
           STATE CO-OPERATIVE BANK LTD., (KERALA BANK), REGIONAL
           OFFICE,
           P.B.NO.104, OPP.MUNICIPAL TOWN HALL, ALAPPUZHA-688
           001.
3          THE KERALA STATE CO-OPERATIVE BANK LTD., (KERALA
           BANK),
           KALAVOOR BRANCH, KALAVOOR P.O, AMBALAPPUZHA TALUK,
           ALAPPUZHA DISTRICT - 688 522, REP.BY ITS MANAGER.


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.C.No.14563/22                         2


                             JUDGMENT

The petitioner is challenging the recovery

proceedings initiated against him under the

Secularization and Reconstruction of Financial Assets and

Enforcement of Security Interest [SARFEASI] Act, 2002.

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.7,39,485/-

[Rupees seven lakhs thirty nine thousand four hundred

and eighty five only] is in arrears. It is submitted by the

learned counsel for the Bank upon instructions that they

are amenable for granting an opportunity to the

petitioner to repay the said amount in

reasonable monthly installments.

In such circumstances, this writ petition is disposed of

granting an opportunity to the petitioner to clear the entire

amount along with interest, in 12 equal monthly

installments commencing from 15th May, 2022 onwards. The

subsequent installments shall be paid by the petitioner on

15th day of every month. In case of default on the part of the

petitioner in payment of any of the installments, 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 DG/26.4.22

APPENDIX OF WP(C) 14563/2022

PETITIONER EXHIBITS

EXT.P1 THE TRUE COPY OF NOTICE DATED 28.09.2021 ISSUED BY 3RD RESPONDENT TO PETITIONER.

EXT.P2 TRUE COPY OF NOTICE DATED 12.04.2022 ISSUED BY ADVOCATE COMMISSIONER TO PETITIONER.