Thulaseedharan vs Alappuzha District Co-Operative ...
2022 Latest Caselaw 11277 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 2ND DAY OF DECEMBER 2022 / 11TH AGRAHAYANA, 1944
                             WP(C) NO. 38371 OF 2022
PETITIONER:

     1        THULASEEDHARAN
              AGED 55 YEARS
              SON OF KOCHUKUNJU, PATHIPARAMBU HOUSE,
              PANAYIL, ALAPPUZHA DISTRICT , PIN - 690504
              BY ADVS.
              ALEX K.JOHN
              NINAN THOMAS

RESPONDENTS:

     1        ALAPPUZHA DISTRICT CO-OPERATIVE BANK (KERALA) BANK
              NOORANADU BRANCH, REPRESENTED BY AUTHORISED OFFICER,
              ALAPPUZHA, PIN - 688001
     2        THE MANAGER
              ALAPPUZHA DISTRICT CO-OPERATIVE BANK, (KERALA BANK), HEAD
              OFFICE, NEAR TOWN HALL, ALAPPUZHA, PIN - 688001
              BY ADV THOMAS ABRAHAM

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
02.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.38371 of 2022
                                        2




                              JUDGMENT

Dated this the 02nd day of December, 2022

The 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 SARFAESI Act) for recovery of the

amounts due upon a mortgage loan availed by the

petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

outstanding amount in instalments.

3. The learned counsel appearing for the

respondent bank states that the loan was sanctioned

in the year 2014 and the term of the loan is to expire

on 01.04.2023. It is submitted that considering the

fact that the term of the loan is expiring on

01.04.2023, the loan account cannot be regularised WPC No.38371 of 2022

and the petitioner will have to pay the entire

outstanding amount. It is submitted that the

outstanding amount is Rs.6,66,454/- (Rupees Six lakh

sixty six thousand four hundred fifty four only) and

the bank has no objection in accepting the repayment

in some limited instalments.

4. I have heard Adv.Alex K.John, the learned

counsel for the petitioner as well as Adv.Thomas

Abraham, the learned Standing Counsel for the

respondents.

5. Having regard to the circumstances of the

case and 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 fifteen (15) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.6,66,454/- (Rupees Six lakh

sixty six thousand four hundred fifty four only) along WPC No.38371 of 2022

with bank charges from the petitioner on the following

conditions:

(i) The outstanding amount of Rs.6,66,454/-

(Rupees Six lakh sixty six thousand four

hundred fifty four only) together with any

accrued interest/costs shall be repaid in

fifteen (15) equated monthly instalments;

(ii) The first instalment shall be paid on or

before 30.12.2022 and 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 petitioner to repay

the entire amounts, all coercive

proceedings shall be kept in abeyance.

Considering the fact that the petitioner has been WPC No.38371 of 2022

given sufficient number of instalments, it is made

clear that no futher extension of time will be granted

under any circumstances. The writ petition is disposed

of as above.

Sd/-

GOPINATH P.

JUDGE SKP/2-12 WPC No.38371 of 2022

APPENDIX OF WP(C) 38371/2022

PETITIONER'S EXHIBITS:

EXHIBIT1P TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 2ND RESPONDENT BANK DATED 30.09.2022 EXHIBITP2 TRUE COPY OF THE REPRESENTATION DATED 11.11.2022 SENT BY THE PETITIONER EXHIBITP3 TRUE COPY OF THE NOTICE RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE