Mohanan K.S vs The Authorized Officer Under The ...
2022 Latest Caselaw 11617 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
     TUESDAY, THE 20TH DAY OF DECEMBER 2022 / 29TH AGRAHAYANA, 1944
                             WP(C) NO. 40841 OF 2022
PETITIONER:

     1        MOHANAN K.S
              AGED 60 YEARS
              S/O. KRISHNAN SANKU,
              KALAPPURAYIL HOUSE, THIRUMARADY P.O.,
              ERNAKULAM DISTRICT ., PIN - 686662
              BY ADV GEORGE SEBASTIAN

RESPONDENTS:

     1        THE AUTHORIZED OFFICER UNDER THE SARFAESI ACT
              STATE BANK OF INDIA ,KAKKOOR BRANCH,
              PANCHAYATH BUILDING, KAKKOOR P.0.,
              THIRUMARADY, ERNAKULAM DISTRICT., PIN - 686662
     2        THE STATE BANK OF INDIA
              KAKKOOR BRANCH,
              PANCHAYATH BUILDING, KAKKOOR P.0.,
              THIRUMARADY, ERNAKULAM DISTRICT.
              REPRESENTED BY ITS MANAGER, PIN - 686662
     3        THE STATE BANK OF INDIA
              RETAIL ASSETS SMALL MEDIUM ENTERPRISES,
              CITY CREDIT CELL BRANCH, MUVATTUPUZHA,
              2I`D FLOOR, MUNICIPAL SHOPPING COMPLEX,
              KACHERITHAZHAM, MUVATTUPUZHA.
              REPRESENTED BY ITS CHIEF MANAGER, PIN - 686661
              ADV. JAEYSH MOHAN KUMAR, STANDING COUNSEL

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
20.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.40841 of 2022
                                           2




                                JUDGMENT

Dated this the 20th day of December, 2022

The son of the petitioner availed a housing loan

from the respondent bank and committed default in

repayment. The property of the petitioner was

mortgaged as a security for repayment of the

aforesaid loan and the petitioner has therefore

approached this Court by filing the above writ

petition.

2. Learned counsel appearing for the petitioner

submits that the petitioner may be permitted to clear

the liability in instalments.

3. Learned counsel appearing for the respondent

bank states that the outstanding amount as on today

is Rs.5,98,515/-. It is submitted that the loan account

cannot be regularised as the bank has initiated

proceedings atleast four times earlier in the years

2018, 2020, 2021 and 2022, under the provisions of WPC No.40841 of 2022

the SARFAESI Act, 2002. It is submitted that

notwithstanding the above, the petitioner can be

permitted to clear the outstanding liability in twelve

(12) equal monthly instalments.

4. I have heard the learned counsel for the

petitioner as well as the learned Standing 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

twelve (12) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.5,98,515/- along with bank

charges from the petitioner on the following

conditions:

(i) The outstanding amount of Rs.5,98,515/- WPC No.40841 of 2022

together with any accrued interest/costs shall

be repaid in twelve (12) equated monthly

instalments;

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

16.01.2023 and subsequent instalments shall

be paid on or before 16 th 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.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE SKP/20-12 WPC No.40841 of 2022

APPENDIX OF WP(C) 40841/2022

PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE NOTICE DATED 19.11.2022 ISSUED BY THE ADVOCATE COMMISSIONER IN PURSUANCE OF THE ORDER IN M.C. 895/2022 OF THE ADDITIONAL CHIEF JUDICIAL MAGISTRATE SPECIAL COURT, ERNAKULAM RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE