Kerala High Court
Biju R vs The Authorized Officer, Union ... on 10 August, 2022
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. 25635 OF 2022
PETITIONERS:
1 BIJU R,
AGED 53 YEARS,
S/O. RAJAN
POOKATTIL HOUSE, NEAR VASUPILLAI JUNCTION,
MARUTHADI, KOLLAM DISTRICT - 691 581.
2 PRAPANCHANA.P,
AGED 46 YEARS
W/O. BIJU R,
POOKATTIL HOUSE, NEAR VASUPILLAI JUNCTION,
MARUTHADI, KOLLAM DISTRICT - 691 581.
BY ADVS.
P.K.BABU
V.SALIM RAJ MOHAN
RESPONDENTS:
1 THE AUTHORIZED OFFICER, UNION BANK OF INDIA,
CIVIL STATION BRANCH, 24/1206/736 A,
DEVAPRIYA COMPLEX, HIGH SCHOOL JUNCTION,
THEVALLY PO, KOLLAM DISTRICT - 691 009.
2 UNION BANK OF INDIA,
REPRESENTED BY ITS BRANCH MANAGER,
CIVIL STATION BRANCH, 24/1206/736A,
DEVAPRIYA COMPLEX, HIGH SCHOOL JUNCTION,
THEVALLY PO, KOLLAM DISTRICT - 691 009.
ADV.A S P KURUP
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. 25635 OF 2022
2
JUDGMENT
The petitioners have approached this Court challenging
proceedings under the SARFAESI Act which have been initiated by
the bank for recovery of the amounts due from the petitioners.
2. During the course of hearing, petitioners have 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 petitioners committed default in repayment and the overdue
amount is Rs.6,59,267/-(Rupees six lakhs fifty nine thousand two
hundred and sixty seven 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 petitioners as
well as the learned counsel for the respondents.
5. Having regard to the circumstances of the case and the
situation now prevailing, apart from the submissions made as
recorded above, I am of the view that the petitioners can be
granted an opportunity to repay the overdue amount in six
instalments and thereafter, if the amount so directed is repaid
WP(C) NO. 25635 OF 2022
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.6,59,267/-(Rupees six lakhs fifty nine thousand two hundred
and sixty seven only) along with accrued interest, costs and
charges from the petitioners and regularise the loan account of
the petitioners on the following conditions:
i. The overdue amount of Rs.6,59,267/-(Rupees six lakhs fifty
nine thousand two hundred and sixty seven only) along with
any accrued interest, costs and charges shall be repaid in six
equated monthly instalments.
ii. The first instalment shall be paid on or before 31.08.2022
and the subsequent instalments shall be paid on or before the
last working day of every succeeding month.
iii. Petitioners 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 petitioners to repay the entire
amounts, all coercive proceedings shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 25635 OF 2022
APPENDIX OF WP(C) 25635/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 07/07/2022
Exhibit P2 TRUE COPY OF THE NOTICE DATED 20/07/2022
RECEIVED BY THE PETITIONER
Exhibit P3 TRUE COPY OF THE NOTICE RECEIVED BY THE
PETITIONER DATED 29/06/2022
Exhibit P4 TRUE COPY OF THE REPRESENTATION
SUBMITTED BY THE PETITIONER BEFORE THE
RESPONDENT BANK DATED 03/08/2022
