Shivil Bright vs Union Bank Of India
2022 Latest Caselaw 9546 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
     THURSDAY, THE 25TH DAY OF AUGUST 2022 / 3RD BHADRA, 1944
                       WP(C) NO. 27422 OF 2022
PETITIONERS:

    1     SHIVIL BRIGHT,
          AGED 39 YEARS,
          S/O. SASI, RESIDING AT S.L.BHAVAN, SHETTUNADA,
          KUTTAMALA P.O., VELLARADA,
          THIRUVANANTHAPURAM - 695 505.

    2     SALINI S.L,
          AGED 31 YEARS,
          W/O. SHIVIL BRIGHT, RESIDING AT S.L.BHAVAN,
          SHETTUNADA, KUTTAMALA P.O., VELLARADA,
          THIRUVANANTHAPURAM - 695 505.

          BY ADV N.SASIDHARAN UNNITHAN



RESPONDENTS:

    1     UNION BANK OF INDIA,
          REPRESENTED BY AUTHORIZED OFFICER,
          PANACHAMOOD - VELLARADA BRANCH, KRIPA PALACE,
          VELLARADA P.O., THIRUVANANTHAPURAM DISTRICT - 695 505.

    2     BRANCH MANAGER,
          UNION BANK OF INDIA, PANCHAMOOD - VELLARADA BRANCH,
          KRIPA PALACE, VELLARADA P.O.,
          THIRUVANANTHAPURAM DISTRICT - 695 505.

          BY ADV ASP.KURUP




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27422 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 of the housing loan and

the total overdue amount is Rs.2,37,385/-(Rupees two lakhs thirty

seven thousand three hundred and eighty five 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 total overdue amount on condition that WP(C) NO. 27422 OF 2022

Rs.1,00,000/- shall be paid on or before 29.08.2022 and the balance

amount shall be paid in four equal monthly instalments, the first of

which shall be paid on or before 30.09.2022 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.2,37,385/-(Rupees two lakhs thirty seven thousand three

hundred and eighty five only) along with accrued interest, costs and

charges from the petitioners and regularise the loan account of the

petitioners on the following conditions:

i. Petitioners shall pay a sum of Rs.1,00,000/- (Rupees one lakh only) on or before 29.08.2022; balance overdue amount along with any accrued interest, costs and charges shall be repaid in four equal monthly instalments.

ii. The first instalment shall be paid on or before 30.09.2022 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.

vi. The sale of the petitioners' property scheduled to be held on 30.08.2022 shall stand stayed on the petitioner remitting a sum of Rs.1,00,000/- (Rupees one lakh only) on or before WP(C) NO. 27422 OF 2022

29.08.2022.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 27422 OF 2022

APPENDIX OF WP(C) 27422/2022

PETITIONER EXHIBITS

Exhibit - P1 TRUE COPY OF THEE NOTICE DATED 21-07-2022 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS

Exhibit- P2 TRUE COPY OF THE RELEVANT PAGES OF THE NOTICE FOR E-AUCTION SALE OF THE SECURITY PROPERTY PUBLISHED IN THE MATHRUBHOOMI DAILY DATED 28-07-2022