Mohammed Aji B vs State Bank Of India
2022 Latest Caselaw 4868 Ker

        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. 14315 OF 2022
PETITIONER/S:

            MOHAMMED AJI B.
            AGED 52 YEARS
            S/O.BASHEER M., JAHIM MANZIL, KUTTICHAL,
            MANNOORKARA P.O., THIRUVANANTHAPURAM DISTRICT,
            PIN - 689 574.

            BY ADV G.SUDHEER



RESPONDENT/S:

            STATE BANK OF INDIA
            REPRESENTED BY ITS AUTHORIZED OFFICER, RACPC-2,
            1ST FLOOR, CHANDRASEKHARAN NAIR, STADIUM
            COMPLEX, PALAYAM, THIRUVANANTHAPURAM, PIN - 695
            033.

            ADV.JITHESH MENON, 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.14315/2022

                                 ..2..




                             JUDGMENT

The petitioner has availed a housing loan for

Rs.65,00,000/- from the respondent bank in the

year 2015 by creating equitable mortgage by

depositing the title deed of his residential

property. Due to the difficulties caused,

repayments were not made in time and the same

led to proceedings for recovery against the

petitioner.

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. The learned Standing Counsel for the

respondent Bank, on instructions, submits that

the outstanding overdue as on today is

Rs.7,54,764/- (Rupees seven lakh fifty four

thousand seven hundred and sixty four only). WP(C) No.14315/2022

..3..

4. 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 instalment facility to the

petitioners to wipe off the overdue amounts

due to the respondent bank.

5. In the said circumstances, this writ petition

is disposed of permitting the petitioner to

clear off the overdue amounts due to the

respondent bank in 10 equal monthly

instalments starting from 25.05.2022. The

petitioner will also be liable to pay the

applicable EMI with the accrued interest, if

any, continuously over and above the

instalments to pay off the overdue amounts.

6. It is made clear that if there are two

defaults committed in paying the instalments

at any time, the petitioner will lose the

benefit of this order and the respondent bank

will be at liberty to proceed against the WP(C) No.14315/2022

..4..

petitioner on the basis of the recovery

proceedings already initiated.

The writ petition is disposed of.

Sd/-

MOHAMMED NIAS C.P.

JUDGE bka/30.04.2022 WP(C) No.14315/2022

..5..

APPENDIX OF WP(C) 14315/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE UNDER SECTION 13(4) OF THE ACT AND RULE 8(1) OF SECURITY INTEREST (ENFORCEMENT) RULES 2002 DTD. 4/4/2022.