Abdul Khader Mohammed vs Authorized Officer/Chief ...
2022 Latest Caselaw 9615 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. 25782 OF 2022
PETITIONER:

          ABDUL KHADER MOHAMMED,
          AGED 66 YEARS,
          SON OF KOTTIKULAM MOHAMMED,
          BAKKAR VILLA, KAPPIL BEACH ROAD, NEAR TAJ VIVANTA,
          UDUMA.P.O, HOSDURG TALUK, KASARAGOD DISTRICT - 671 319.

          BY ADVS.
          A.ARUNKUMAR
          T.C.NARAYANAN
          HEERAKRISHNA T.H.



RESPONDENTS:

    1     AUTHORIZED OFFICER/CHIEF MANAGER,
          SOUTH INDIAN BANK, REGIONAL OFFICE,
          KVR TOWERS, PAMPAN MADHAVAN ROAD, TALAP,
          KANNUR - 670 002.

    2     SOUTH INDIAN BANK,
          REPRESENTED BY ITS BRANCH MANAGER,
          UDUMA BRANCH, YEMPEES COMPLEX, MAIN ROAD, PALKKUNNU,
          BEKAL.P.O, HOSDURG TALUK, KASARAGOD DISTRICT - 671 317.

          BY ADVS.
          SUNIL SHANKER
          VIDYA GANGADHARAN
          SANDHRA.S




     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. 25782 OF 2022

                                2


                           JUDGMENT

The petitioner has approached this Court challenging

proceedings under the SARFAESI Act which have been initiated

by the bank for recovery of the amounts due from the petitioner.

2. During the course of hearing, petitioner has 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 petitioner committed default in repayment and the overdue

amount is Rs.10,20,000/-(Rupees ten lakhs twenty thousand

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 petitioner 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 petitioner can be

granted an opportunity to repay the overdue amount in 12

instalments and thereafter, if the amount so directed is repaid WP(C) NO. 25782 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.10,20,000/-(Rupees ten lakhs twenty thousand only) along

with accrued interest, costs and charges from the petitioner and

regularise the loan account of the petitioner on the following

conditions:

i. The overdue amount of Rs.10,20,000/-(Rupees ten lakhs twenty thousand only) along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments.

ii. The first instalment shall be paid on or before 16.09.2022 and the subsequent instalments shall be paid on or before the 16th day of every succeeding month.

iii. Petitioner 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 petitioner 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. 25782 OF 2022

APPENDIX OF WP(C) 25782/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED BY THE 1ST RESPONDENT DATED 01-09-2021