Santhosh K.L vs Authorised Officer
2022 Latest Caselaw 9328 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. 6096 OF 2022
PETITIONER:

     1        SANTHOSH K.L
              AGED 47 YEARS
              S/O KUMARAN, MANEKATTIL HOUSE, THIRUVANKULAM
              P.O.THIRUVANKULAM VILLAGE,
              ERNAKULAAM DISTRICT, PIN-682 305.
              BY ADVS.
              T.K.VIPINDAS
              K.V.SREE VINAYAKAN

RESPONDENTS:

     1        AUTHORISED OFFICER
              THE PEOPLES URBAN CO-OPERATIVE BANK LTD NO 51,
              HEAD OFFICE, THRIPUNITHURA, PIN-682 301.
     2        THE PEOPLES URBAN CO-OPERATIVE BANK LTD NO 51,
              THIRUVANKULAM BRANCH, TRIPUNITHURA,
              ERNAKULAM PIN-682 301,
              REPRESENTED BY ITS MANAGER
              BY ADV DEVAPRASANTH.P.J.

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
10.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC NO.6096 OF 2022
                                      2




                                 JUDGMENT

Dated this the 10th day of August, 2022

The petitioner has approached this Court being

aggrieved by the proceedings initiated under the

provisions of SAFAESI Act, 2002 to recover possession

of the property which was mortgaged by the petitioner

for availing certain credit facilities from the respondent

bank. It is not in dispute before me that following

default committed by the petitioner, the property of the

petitioner was brought to sale. Since there was no

bidder, the property was purchased by the bank on

20.03.2021 and the asset is now a non banking asset of

the respondent bank. The learned counsel appearing for

the petitioner states that the petitioner may be given a

reasonable opportunity to clear the liability.

2. The learned counsel appearing for the

respondent bank states that the dues as on date is

Rs.10,43,172/- (Rupees Ten lakh forty three thousand

one hundred seventy two only). If the entire liability is

cleared in reasonable installments, the respondent bank WPC NO.6096 OF 2022

will have no objection in re-conveying the property to

the petitioner, provided the petitioner also meets the

costs necessary for the same.

Having regard to the facts and circumstances and

considering the submissions by both sides as above,

this writ petition is disposed of directing that if the

petitioner remits a sum of Rs.10,43,172/- (Rupees Ten

lakh forty three thousand one hundred seventy two

only) in 15 equal monthly installments starting from

31.08.2022 together with any accrued interest/costs,

further proceedings to recover the possession of the

property from the petitioner shall be kept in abeyance.

On the petitioner discharging the entire liability as

above, the property in question, which is now a non

banking asset of the bank shall be re-conveyed to the

petitioner. The petitioner shall meet the expenses

necessary for the same.

Sd/-

GOPINATH P.

JUDGE SKP/10-8 WPC NO.6096 OF 2022

APPENDIX OF WP(C) 6096/2022

PETITIONER'S EXHIBITS EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED 28.12.2018 ISSUED BY THE 1ST RESPONDENT AS PER SECTION 13 (2) OF THE SARFAEST ACT EXHIBIT P2 THE TRUE COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER DATED 8.2.2022 RESPONDENTS' EXHIBITS: NIL

TRUE COPY

P.A.TO JUDGE