A M Abdul Kareem vs The Authorized Officer
2022 Latest Caselaw 9890 Ker

W.P(C) .27970/22                       1



                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                    THE HONOURABLE MR. JUSTICE GOPINATH P.
      WEDNESDAY, THE 31ST DAY OF AUGUST 2022 / 9TH BHADRA, 1944
                           WP(C) NO. 27970 OF 2022
PETITIONER/S:

              A M ABDUL KAREEM
              AGED 64 YEARS
              S/O MOHAMMED KUNHI HAJI,
              A M HOUSE, C H ROAD,
              KUMBALA, KOIPADY VILLAGE,
              KASARAGOD, PIN - 671321
              BY ADVS.
              PRAVEEN K. JOY
              E.S.SANEEJ
              M.P.UNNIKRISHNAN
              M.K.SAMYUKTHA
              N.ABHILASH
              DEEPU RAJAGOPAL
              SANDRA S.KUMAR


RESPONDENT/S:

      1       THE AUTHORIZED OFFICER
              KERALA STATE CO-OPERATIVE BANK,
              NAYAK'S ROAD, KASARAGOD, PIN - 671121
      2       BRANCH MANAGER
              KERALA STATE CO-OPERATIVE BANK,
              KUMBALA BRANCH,
              XXIII/1047, KUMBALA,
              KASARAGOD, PIN - 671321
      3       ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL)
              OFFICE OF THE ASSISTANT REGISTRAR OF CO-OPERATIVE
              SOCIETIES (GENERAL), KASARAGOD-, PIN - 671123
              BY ADV SRI.M.SASINDRAN, SC, KASARAGOD DISTRICT CO-
              OPERATIVE BANK LIMITED


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P(C) .27970/22                            2




                                    JUDGMENT

Petitioner has approached this Court challenging proceedings initiated

under the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (hereinafter referred to as the

Securitisation Act) for recovery of the amount due upon a short term loan

availed by the petitioner from the respondent bank.

2. During the course of hearing, petitioner has confined the relief to an

opportunity for repaying the outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank that the petitioner

committed default in repayment of the loan, the term of which is already

expired, and the outstanding amount is Rs.47,49,694/-. 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 petitioner as well as the

learned Standing Counsel for the respondent Bank.

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 twenty (20) instalments.

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

accept repayment of the entire outstanding amount mentioned above along

with bank charges from the petitioner on the following conditions:

(i) Petitioner shall discharge the liabilities to the respondent bank by paying the entire outstanding amount mentioned above together with any accrued interest/costs in twenty (20) equated monthly instalments commencing from 16.9. 2022.

(ii) Petitioner shall pay the subsequent instalments on or before the 16th 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 petitioner to repay the entire amount, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE okb/ //True copy// P.S. to Judge

APPENDIX OF WP(C) 27970/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE CRL MP 387/2020 OF CHIEF JUDICIAL MAGISTRATE COURT, KASARAGOD DATED 04.02.2020 Exhibit P2 TRUE COPY OF THE ORDER DATED 19.04.2022 IN IA NO. 2/20222 IN UN NUMBERED OS BEFORE VACATION COURT (DISTRICT COURT, KASARAGOD) Exhibit P3 TRUE PHOTOCOPY OF THE REPRESENTATION DATED 25.08.2022 BEFORE RESPONDENTS BANK