Amritha Kumari vs The Authorised Officer
2022 Latest Caselaw 9243 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
    WEDNESDAY, THE 10TH DAY OF AUGUST 2022 / 19TH SRAVANA, 1944
                        WP(C) NO. 24836 OF 2022
PETITIONER:

          AMRITHA KUMARI,
          AGED 58 YEARS,
          W/O AYYAPPA RAJAN,
          AYYAPPA BHAVAN,
          NEAR SIVAN KOVIL,
          PUNALUR PO , KOLLAM - 691 305.

          BY ADVS.
          SHARAN SHAHIER
          RAKHY BABY
          SONY SOLOMON



RESPONDENT:

          THE AUTHORISED OFFICER,
          STATE BANK OF INDIA, RASMEC, KOTTARAKKARA,1ST FLOOR
          LOTUS TOWER, PULAMON JN, KOTTARAKKARA - 691 531.

              BY ADV. SANTHOSH MATHEW




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 24836 OF 2022

                               2


                          JUDGMENT

The petitioner has approached this Court challenging

proceedings under the SARFAESI Act which have been

initiated by the bank for recovery of the amounts due from

the petitioner.

2. During the course of hearing, petitioner has confined

the relief to an opportunity for repaying the overdue amount

in instalments and to obtain regularisation of the loan

account.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

overdue amount is Rs.13,50,411/-(Rupees thirteen lakhs fifty

thousand four hundred and eleven only). It was further

submitted that though proceedings for recovery have been

initiated, as a matter of indulgence, the respondent bank is

willing to accept repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as

well as the learned counsel for the respondent.

5. Having regard to the circumstances of the case and

the situation now prevailing, apart from the submissions WP(C) NO. 24836 OF 2022

made as recorded above, I am of the view that the petitioner

can be granted an opportunity to repay the overdue amount

in 12 instalments and thereafter, if the amount so directed is

repaid within the time as directed above, to have the loan

account regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.13,50,411/-(Rupees thirteen lakhs fifty

thousand four hundred and eleven only) along with accrued

interest, costs and charges from the petitioner and regularise

the loan account of the petitioner on the following conditions:

i. The overdue amount of Rs.13,50,411/-(Rupees thirteen lakhs fifty thousand four hundred and eleven only) along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments.

ii. The first instalment shall be paid on or before 16.09.2022 and the subsequent instalments shall be paid on or before the last working day of every succeeding month.

iii. Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

WP(C) NO. 24836 OF 2022

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 24836 OF 2022

APPENDIX OF WP(C) 24836/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 31.03.2022 ISSUED BY THE RESPONDENT

Exhibit P2 A TRUE COPY OF THE POSSESSION NOTICE DATED 24.06.2022 ISSUED BY THE RESPONDENT

Exhibit P3 A TRUE COPY OF THE REPRESENTATION DATED 07.05.2022 ISSUED BY THE PETITIONER TO THE RESPONDENT

Exhibit P4 A TRUE COPY OF THE NOTICE DATED 13.07.2022 ISSUED BY THE ADVOCATE COMMISSIONER