Nazimudeen vs The Manager
2022 Latest Caselaw 9784 Ker

               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. 27650 OF 2022
PETITIONER:

            NAZIMUDEEN A
            AGED 52 YEARS, S/O. ABDUL JALEEL,
            RESIDING AT JABBAR BUILDING, CONTONMENT SOURTH,
            KOLLAM, PIN - 691 001.

            BY ADVS.
                       S.SREEKUMAR (KOLLAM)
                       K.VIJAYAN
                       NAMITHA RAJESH


RESPONDENTS:

    1       THE MANAGER
            THE QUILON CO-OPERATIVE URBAN BANK LTD. NO. 960,
            MAIN BRANCH, YMCA ROAD, CHINNAKADA,
            KOLLAM, PIN - 691 001.

    2       THE AUTHORIZED OFFICER
            THE QUILON CO-OPERATIVE URBAN BANK LTD. NO. 960,
            HEAD OFFICE, CHINNAKKAD, YMCA ROAD,
            KOLLAM, PIN - 691 001.

            BY ADV SMT.RENU.D.P., SC, QUILON CO.OP. URBAN BANK


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27650 OF 2022             2



                            JUDGMENT

Petitioner is a guarantor in respect of a loan availed by

his wife. He has approached this Court being aggrieved by

the proceedings for recovery of amounts due under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act

(SARFAESI Act).

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

overdue amount is Rs.6,91,871/- (Rupees Six Lakhs Ninety

One Thousand Eight Hundred and Seventy One 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 installments and regularize the loan account.

2. The learned counsel for the petitioner states that

due to certain work executed by the Kerala Water Authority

in front of the shop of the petitioner there has been

practically no business for the petitioner over the past three

years. It is submitted that the default was committed only

on account of the above fact

4. I have heard Adv.S.Sreekumar, learned counsel for

the petitioner as well as Adv.Renu D.P., 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 installments and thereafter, if the amount so directed

is repaid within the time as directed above, to have the loan

account regularized.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.6,91,871/- (Rupees Six Lakhs Ninety One

Thousand Eight Hundred and Seventy One only) along with

bank charges from the petitioner and regularize the loan

account of the petitioner on the following conditions:

(i) The overdue amount of Rs.6,91,871/- (Rupees Six

Lakhs Ninety One Thousand Eight Hundred and Seventy

One only) shall be repaid in 15 equated monthly

installments along with any accrued interest and costs;

(ii) The first installment shall be paid on or before

16-09-2022. The subsequent installments shall be paid on or

before the last working day of the succeeding months;

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

along with the installments directed above;

(iv) In the event of default of any one installment, 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 ats

APPENDIX OF WP(C) 27650/2022

PETITIONER EXHIBITS

Exhibit- P1 THE TRUE PHOTOGRAPHS OF THE SHOWING THE PRESENT CONDITION OF THE ROAD

Exhibit- P2 TRUE COPY OF THE NOTICE DATED 30.09.2020 UNDER SECTION 13(2) OF THE SARFAESI ACT

Exhibit- P3 THE TRUE COPY OF THE REPRESENTATION DATED 07.03.2022 GIVEN TO THE 1ST RESPONDENT