Kerala High Court
Abraham Parayil Mathew Varghese vs Union Bank Of India 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. 14519 OF 2022
PETITIONER:
ABRAHAM PARAYIL MATHEW VARGHESE
AGED 48 YEARS
S/O.MATHEW VARGHESE,
PARAYIL HOUSE,
ECTTICHUVADU P.O., RANNI,
PATHANAMTHITTA -689 675.
BY ADV E.V.MOLY
RESPONDENT :
UNION BANK OF INDIA
REGIONAL OFFICE,
KOTTAYAM, 3RD FLOOR,
AMALA TOWERS,
ADICHIRA JUNCTION,
KOTTAYM-686 630.
REPRESENTED BY ITS AUTHORIZED OFFICER.
ADV.A.S.P.KURUP, SC
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.14519 of 2022
2
MOHAMMED NIAS C.P., J
.......................................
W.P.(C) No.14519 of 2022
................................................
Dated this the 29 th day of April, 2022
JUDGMENT
The petitioner has availed a loan to the tune of
Rs.37 lakhs from the respondent bank by creating
security interest upon immovable property consisting of
4.39 Ares of land. 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 possession 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
overdue amounts and to regularise the loan account.
3. I have heard Smt.Moly.E.V., the learned counsel for
the petitioner as well as Sri.A.S.P.Kurup, the learned
WP(C) NO.14519 of 2022
Standing Counsel for the respondent.
4. The learned Standing Counsel, upon instructions,
submitted that the total overdue amount is
Rs.9,35,000/- and the respondent Bank is willing to
accept repayment of the overdue amount in limited
instalments and to regularise the loan account.
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 '10' equal monthly
instalments to the petitioners to wipe off the overdue
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 overdue amount of
Rs.9,35,000/- along with bank charges and to
regularise the loan account of the petitioners on the
following conditions:
(i). The overdue amount of Rs.9,35,000/- along with
bank charges shall be repaid in '10' equated monthly
instalments, on condition that the 1 st instalment shall
WP(C) NO.14519 of 2022
be paid within two weeks and the remaining
instalments shall be paid on or before the 25 th day of
every succeeding month.
(ii). Petitioner shall continue to pay the regular EMI's
with the accrued interest, if any, continuously over
and above the instalments to pay off the overdue
amounts.
(iii). In the event of two defaults at any point of time
in repaying the instalments, the petitioners will lose
the benefit of this judgment and the respondent bank
will be at liberty to proceed against the petitioners on
the basis of the recovery proceedings already initiated.
(iv) In order to enable the petitioners 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.14519 of 2022
APPENDIX OF WP(C) 14519/2022
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE POSSESSION
NOTICE DATED 22.02.2022 RECEIVED BY
THE PETITIONER
Exhibit P2 THE TRUE COPY OF THE SALE NOTICE
DATED 19.03.2022 RECEIVED BY THE
PETITIONER
RESPONDENTS EXHIBITS : NIL
TRUE COPY
