Viji. K.V vs The Authorised Officer
2022 Latest Caselaw 9780 Ker

W.P.(C) No.26042 of 2022                -:1:-


              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
               THE HONOURABLE MR. JUSTICE GOPINATH P.
    FRIDAY, THE 26TH DAY OF AUGUST 2022 / 4TH BHADRA, 1944
                           WP(C) NO. 26042 OF 2022
PETITIONER:

              VIJI. K.V
              AGED 37 YEARS
              KUNNILETTU VEEDU, PUTHUSSERRY P.O, KALLOOPPARA,
              THIRUVALLA, PIN - 689 602.

              BY ADVS.
                           M.R.SASITH
                           HARIKUMAR P.S.


RESPONDENTS:

      1       THE AUTHORISED OFFICER
              UNION BANK OF INDIA, III FLOOR,
              AMALA TOWERS, ADHICHIRA JUNCTION,
              KOTTAYAM, PIN - 686 630.
      2       MANAGER, UNION BANK OF INDIA
              MALLAPPALLY BRANCH, PALATHUNKAL BUILDING,
              KOTTAYAM ROAD, MALLAPPALLY,
              KOTTAYAM, PIN - 689 585.
              BY ADVS.
                            ASP.KURUP
                            SADCHITH.P.KURUP(K/1419/2002)
                            C.P.ANIL RAJ(K/872/2007)
                            ANCY RUBENS(K/1320/2022)



       THIS     WRIT       PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION       ON    26.08.2022,       THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.26042 of 2022          -:2:-


                           JUDGMENT

The petitioner has availed total of two loans from the

respondent bank. Petitioner has approached this Court

challenging proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act (SARFAESI Act) for recovery of the amounts due in

respect of the aforesaid two loans.

2. During the course of hearing, petitioner has confined

the relief to an opportunity for repaying the overdue amount in

installments and to obtain regularization of the loan account.

3. The learned Standing Counsel appearing for the

respondent bank submits that out of the two loans, one loan

cannot be regularized as the nature of facility is personal loan. It

is submitted that the other is a housing loan. The said loan can

be regularized by paying the overdue amounts. It is submitted

that the outstanding amount in respect of the personal loan is

Rs.8,38,037/-(Rupees Eight Lakhs Thirty Eight Thousand and

Thirty Seven Only) and the overdue amount in respect of the

housing loan is Rs.4,19,272/-(Rupees Four Lakhs Nineteen

Thousand Two Hundred and Seventy Two Only). It is submitted

that the other charges and costs amounting to Rs.1,04,598/-

(Rupees One Lakh Four Thousand Five Hundred and Ninety

Eight Only) have also be paid making the total amount payable

to be Rs.13,61,907/-(Rupees Thirteen Lakhs Sixty One Thousand

Nine Hundred and Seven Only).

4. I have heard Adv.M.R.Sarith, learned counsel for the

petitioner as well as Adv.A.S.P Kurup, 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 outstanding amount in

respect of the personal loan and overdue amount in respect of

housing loan in 15 instalments.

6. Accordingly, there will be a direction to the respondent

bank to accept repayment of the entire outstanding amount of

Rs.8,38,037/-(Rupees Eight Lakhs Thirty Eight Thousand and

Thirty Seven Only) in respect of personal loan and the overdue

amount of Rs.4,19,272/-(Rupees Four Lakhs Nineteen Thousand

Two Hundred and Seventy Two Only) in respect of housing loan,

along with other charges and cost amounting to Rs.1,04,598/-

from the petitioner and regularize the loan account of the

petitioner in respect of the housing loan on the following

conditions:

(i) The outstanding amount of Rs.8,38,037/- (Rupees

Eight Lakhs Thirty Eight Thousand and Thirty Seven Only) in

respect of personal loan together with any accrued

interest/costs shall be repaid in 15 equated monthly instalments;

(ii) The overdue amount of Rs.4,19,272/-(Rupees Four

Lakhs Nineteen Thousand Two Hundred and Seventy Two Only)

in respect of housing loan together with any accrued interest

and charges shall also be repaid in 15 equated monthly

instalments;

(iii) The first instalment in respect of all the loans shall be

paid on or before 30-08-2022 and subsequent instalments shall

be paid on or before the last working day of the succeeding

months;

(iv) Petitioner shall continue to pay the regular EMI's

along with instalments in respect of the housing loan;

(v) The petitioner shall pay a sum of Rs.1,04,598/-

(Rupees One Lakh Four Thousand Five Hundred and Ninety

Eight Only) towards legal expenses and costs in 15 monthly

installments along with the installments payable in respect of

the loan accounts.

(iii) In the event of default of any one installment, the

respondent bank shall be entitled to proceed in accordance with

law;

(iv) 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 ats

APPENDIX OF WP(C) 26042/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE ISSUED BY THE 1ST RESPONDENT DATED 18/07/2022