Kerala High Court
Ajayan .T.A vs The People'S Urban Co-Operative ... on 29 April, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
WP(C) NO. 25026 OF 2021
PETITIONER:
AJAYAN.T.A., AGED 46 YEARS
S/O. ARAVINDAN,
RESIDING AT THEKKENILAYATHU HOUSE,
UDAYAMPEROOR, NADAKKAVU P.O,
TRIPUNITHURA - 682 305.
BY ADVS.
SANTHOSH G. PRABHU
N.U.DEEPA
A.ASWATHY
K.JANARDHANA SHENOY
RESPONDENT:
THE PEOPLE'S URBAN CO-OPERATIVE BANK LTD. NO.
51
MAIN ROAD, EAST FORT GATE,
TRIPUNITHURA - 682301,
REPRESENTED BY ITS AUTHORIZED OFFICER & GENERAL
MANAGER,
BY ADV DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO.25026/2021
2
MOHAMMED NIAS C.P., J
.......................................
W.P.(C) No.25026 of 2021
................................................
Dated this the 29 th day of April, 2022
JUDGMENT
The petitioner has availed a loan to the tune of
Rs.2 lakhs from the respondent bank by creating
mortgage over his one and only property having an
extent of 2 ½ cents. Due to Covid-19 pandemic
repayments were not made in time and the same led
to proceedings for recovery against the petitioner.
Ext.P1 is the sale notices issued under Sections 13(2) of
the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002.
2. The limited prayer of the petitioner in this writ
petition is to grant instalment facility to pay the
outstanding amounts in instalments.
3. I have heard Sri.Santhosh G.Prabhu, the learned
counsel for the petitioner as well as Sri.Devaprasanth
P.J., the learned Standing Counsel for the respondent.
WP(C) NO.25026/2021
4. The learned Standing Counsel, upon instructions,
submitted that the total outstanding amount is
Rs.3,15,276/- and standing counsel for the respondent
Bank vehemently opposed the grant of instalment
facility to the petitioner to repay the entire outstanding
amount in instalments.
5. Taking into account the averments in the writ petition
and after hearing the learned counsel on either side, I
deem it appropriate to grant 7 monthly instalments to
the petitioners to wipe off the outstanding amounts
due to the respondent bank.
6. In the said circumstances, this writ petition is disposed
of, with a direction to the respondent-Bank to accept
repayment of the entire outstanding amount of
Rs.3,15,276/- along with bank charges on the following
conditions:
(i). The outstanding amount of Rs.3,15,276/- along
with bank charges shall be repaid in '7' monthly
instalments, on condition that an amount of
Rs.50,000/- (Rupees Fifty thousand only) be paid by
WP(C) NO.25026/2021
the petitioner within a week. The balance amount
will be paid in '6' equal 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 16th day of every succeeding
month.
(iii). In the event of two defaults at any time in
repaying the instalments, the petitioner will lose the
benefit of this judgment and the respondent bank will
be at liberty to proceed against the petitioner on the
basis of the recovery proceedings already initiated.
(iv) In order to enable the petitioner to repay the
entire amounts, all coercive proceedings initiated
against the petitioner shall be kept in abeyance.
The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P., JUDGE
AMV/29/04/2022
WP(C) NO.25026/2021
APPENDIX OF WP(C) 25026/2021
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE SALE NOTICE DATED
05.10.2021.
Exhibit P2 TRUE COPY OF THE RECEIPT NO. 20178
DATED 30.10.2021 ISSUED BY THE
RESPONDENT BANK TO THE PETITIONER.
Exhibit P3 TRUE COPY OF THE REPRESENTATION DATED
07.11.2021 SUBMITTED BY THE
PETITIONER TO THE RESPONDENT BANK.
Exhibit P4 COPY OF THE SALE NOTICE DATED
23.03.2022 ISSUED BY THE RESPONDENT
BANK.
RESPONDENTS EXHIBITS : NIL
TRUE COPY
