Kerala High Court
Sri. Ismail P R vs Kerala State Co-Operative Bank ... on 25 August, 2022
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. 27391 OF 2022
PETITIONERS:
1 SRI. ISMAIL P R.,
AGED 65 YEARS,
S/O ABDUL RAZACK , VELUTHEDATHUKUDIYIL HOUSE,
PALLIKKUDATHIL, MUVATTUPUZHA, PIN-686 661.
2 SMT. THAHIRA ISMAIL,
AGED 55 YEARS,
W/O ISMAIL P R, VELUTHEDATHUKUDIYIL HOUSE,
PALLIKKUDATHIL, MUVATTUPUZHA, PIN-686 661.
3 SRI. AYOOB P H,
AGED 45 YEARS,
S/O KASIM RAWTHER, ASHRAMATHAZHATHU PUTHEN PURA
(AYINA MANZIL), KIZHAKKEKARA, MUVATTUPUZHA, PIN-686 661.
BY ADVS.
ANOOP ELIAS
T.A MOHAMED SAGEER
C.J.LIZY
RESPONDENT:
KERALA STATE CO-OPERATIVE BANK LTD.,
MUVATTUPUZHA TOWN BRANH,
21/213/C, V S TOWERS BUIDING, KACHERETHAZHAM,
MUVATTUPUZHA, ERNAKULAM DISRICT- PIN 686661
REPRESENTED BY AUTHORISED OFFICER.
BY ADV SRI.N.RAGHURAJ, SC, ERNAKULAM DISTRICT CO-
OPERATIVE BANK LTD.
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. 27391 OF 2022
2
JUDGMENT
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.
3. It was submitted on behalf of the respondent bank that
the petitioners committed default in repayment and the
outstanding amount is Rs.62,62,343/-(Rupees sixty two lakhs
sixty two thousand three hundred and forty three 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 outstanding amount in limited
instalments.
4. I have heard the learned counsel for the petitioners as
well as the learned Standing 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 outstanding amount on
condition that Rs.5,00,000/- (Rupees five lakhs only) shall be
paid on or before 15.09.2022 and the balance amount shall be
paid in 12 equal monthly instalments, the first of which shall be
WP(C) NO. 27391 OF 2022
paid on or before 14.10.2022 and the subsequent instalments
shall be paid on the last working day of every succeeding month.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the outstanding amount of
Rs.62,62,343/-(Rupees sixty two lakhs sixty two thousand three
hundred and forty three only) along with accrued interest, costs
and charges from the petitioners on the following conditions:
(i)Petitioners shall pay a sum of Rs.5,00,000/- (Rupees
five lakhs only) on or before 15.09.2022; balance
outstanding amount along with any accrued interest,
costs and charges shall be repaid in 12 equal
monthly instalments.
(ii)The first instalment shall be paid on or before
14.10.2022 and the subsequent instalments shall be
paid on or before the last working day of every
succeeding month.
(iii) In the event of default of any one instalment, the
respondent bank shall be entitled to proceed in
accordance with law.
(iv)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. 27391 OF 2022
APPENDIX OF WP(C) 27391/2022
PETITIONER EXHIBITS
Exhibit1 POSSESSION NOTICE DATED 14-01-2022
ISSUED BY THE RESPONDENT U/S 13(4) OF
SARFAESI ACT TO THE PETITIONERS
Exhibit2 NOTICE DATED 08-08-2022 ISSUED TO THE
PETITIONERS BY ADVOCATE - COMMISSIONER
Exhibit3 ONLINE SEARCH REPORT DATED 20/08/2022
OBTAINED FROM THE WEBSITE OF CERSAI
