Gopinath .C vs Authorised Officer
2022 Latest Caselaw 9312 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. 24956 OF 2022
     AGAINST THE ORDER/JUDGMENTMC 361/2022 OF ADDITIONAL CHIEF JUDICIAL
                           MAGISTRATE , ERNAKULAM
PETITIONER/S:

         1     GOPINATH .C, AGED 62 YEARS
               S/O PADMANABHA MENON
               ANIZHAM , MARIAMMANKOVIL ROAD ,
               THIRUVANKULAM , KANAYANNUR,
               BRNAKULAM DISTRICT., PIN - 682305
         2     VIJAYALKUMARI.J, AGED 68 YEARS
               W/O GOPINATH, ANIZHAM,
               MARIAMMANKOVIL ROAD,
               THIRUVANKULAM , KANAYANNUR,
               ERNAKULANI DISTRICT., PIN - 682305
         3     AMMU GOPINATH
               AGED 28 YEARS
               D/O GOPINATH, ANIZHAM,
               MARIAMMANKOVIL ROAD ,
               THIRUVANKULAM , KANAYANNUR,
               ERNAKULAM DISTRICT., PIN - 682305
               BY ADVS.
               D.FEROZE
               C.J.JIYAS
               T.S.KRISHNENDU
               PREETI S.


RESPONDENT/S:

               AUTHORISED OFFICER
               KERALA STATE CO-OPERATIVE BANK,
               (ERSTWHILE ERNAKULAM DISTRICT CO-OPERATIVE BANK)
               REPRESENTED BY ITS CHIEF MANAGER
               ERNAKULAM DISTRICT OFFICE,
               KAKKANAD P.O
               ERNAKULAM- 682030, PIN - 682030
               ADV.N. RAGHU RAJ
ad




         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. 24956 OF 2022               2



                              JUDGMENT

Petitioners have approached this Court, challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

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 1st petitioner along with his wife availed a personal

loan from the respondent bank and committed default in

repayment and the overdue amount is as of now is

Rs.21,78,242/- (Rupees twenty one lakhs seventy eight

thousand two hundred and forty two only). It is also

submitted that the petitioner may be directed to pay some

amount in lump-sum. 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 respondent.

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 eighteen 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.21,78,242/- (Rupees twenty one lakhs seventy

eight thousand two hundred and forty two only) along with

bank charges from the petitioners and regularise the loan

account of the petitioners in the following manner:-

(i) The petitioners shall pay a lump-sum amount of Rs.2,00,000/- (Rupees two lakhs only) on or before 31.08.2022;

(ii) The balance overdue amount of Rs.19,78,242/- (Rupees Nineteen lakhs seventy eight thousand two hundred and forty two only) with accrued charges and interest shall be repaid in eighteen equated monthly instalments;

(iii) The first instalment shall be paid on or before 15.09.2022 and the subsequent instalments shall be paid on or before the 15th day of each succeeding month;

(iv) Petitioners shall continue to pay the regular EMI's/instalments along with the instalments directed above;

(v) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law;

(vi) 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 ajt

APPENDIX OF WP(C) 24956/2022

PETITIONER EXHIBITS Exhibit I CERTIFIED COPY OF THE ORDER OF THE HON'BLE ADDITIONAL CHIEF JUDICIAL MAGISTRATE (MP/MLA) IN MC NO : 361/2022 .

Exhibit II TRUE COPY OF THE NOTICE DATED 21.07.2022