Kerala High Court
Abdul Salim vs The Kottakkal Co-Operative Urban ... 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. 14781 OF 2022
PETITIONERS:
1 ABDUL SALIM, AGED 38 YEARS
S/O. ALIYAMUTTY, PANANGATTIL HOUSE, AYYAYA,
OZHUR, MALAPPURAM DISTRICT-676307.
2 ABDUL AZEEZ,
S/O. ALIYAMUTTY, PANANGATTIL HOUSE, AYYAYA,
OZHUR, MALAPPURAM DISTRICT-676307.
BY ADVS.
BINDUMOL JOSEPH
PUSHKARAKSHAN V.P
SRIVIDYA K
M.V.RAHUL
RESPONDENTS:
1 THE KOTTAKKAL CO-OPERATIVE URBAN BANK LIMITED
NO.1378,
REPRESENTED BY ITS AUTHORISED OFFICER (CHIEF
EXECUTIVE OFFICER), HEAD OFFICE, KOTTAPPADI,
KOTTAKKAL, MALAPPURAM DISTRICT-676 503.
2 AUTHORIZED OFFICER UNDER SARFAESI ACT,
THE KOTTAKKAL CO-OPERATIVE URBAN BANK LIMITED
NO.1378, KOTTAPPADI, KOTTAKKAL, MALAPPURAM
DISTRICT-676503.
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.14781/2022
2
MOHAMMED NIAS C.P., J
.......................................
W.P.(C) No.14781 of 2022
................................................
Dated this the 29th day of April, 2022
JUDGMENT
The petitioners have availed a business loan to the
tune of Rs.15 lakhs from the respondent bank by
creating mortgage of 3.546 Ares of land comprised in
Sy.No.309/1-26 in Oshur village, Tirur Taluk,
Malappuram District. 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 petitioners in this writ
petition is to grant instalment facility to pay the
overdue amounts in instalments and to regularise the
loan account.
3. The learned Standing Counsel for the respondent Bank,
on instructions, submits that the overdue amount is
Rs.5,98,452/-.
4. Taking into account the averments in the writ petition
WP(C) NO.14781/2022
and after hearing the learned counsel on either side, I
deem it appropriate to grant '8' monthly instalments
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 petitioners to clear off the overdue
amount of Rs.5,98,452/- along with bank charges in '8'
monthly instalments, on condition that an amount of
Rs.1,00,000/- (Rupees One lakh only) be paid by the
petitioners within a period of ten days from today.
The balance amount will be paid in '7' equal monthly
instalments commencing from 16.05.2022 which shall
be paid on or before the 16th day of every succeeding
month. The petitioners 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, at any
time, the petitioners will lose the benefit of this
WP(C) NO.14781/2022
judgment and the respondent bank will be at liberty to
proceed against the petitioner on the basis of the
recovery proceedings already initiated.
7. In order to enable the petitioners to repay the entire
amounts, all coercive proceedings initiated against the
petitioners shall be kept in abeyance.
The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P., JUDGE
AMV/30/04/2022
WP(C) NO.14781/2022
APPENDIX OF WP(C) 14781/2022
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE SANCTION LETTER
DATED 1.6.2019.
Exhibit P2 A TRUE COPY OF THE POSSESSION NOTICE
ISSUED TO THE PETITIONERS UNDER
SECTION 13(4) OF THE SARFAESI ACT
DATED 25.3.2022.
Exhibit P3 A TRUE COPY OF THE TAX RECEIPT DATED
7.4.2022 OF THE MORTGAGED PROPERTY.
Exhibit P4 A TRUE COPY OF THE POSSESSION
CERTIFICATE DATED 26.3.2019 ISSUED BY
THE VILLAGE OFFICER.
RESPONDENTS EXHIBITS : NIL
TRUE COPY
