Kerala High Court
Sudha vs The Branch Manager on 21 December, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 21ST DAY OF DECEMBER 2022 / 30TH AGRAHAYANA, 1944
WP(C) NO. 40533 OF 2022
PETITIONER:
SUDHA
AGED 55 YEARS,
W/O SAJEEVAN ,
PUTHOOR HOUSE, CHALINGAD DESOM,
KAIPAMANGALAM VILLAGE, KODUNGALLUR TALUK ,
THRISSUR DT. - 680 681.
BY ADVS.
M.R.REENA
P.S.SUJETH
RESPONDENTS:
1 THE BRANCH MANAGER ,
KERALA STATE CO-OPERATIVE
BANK LTD., PERINJANAM BRANCH,
THRISSUR. - 680 686.
2 THE AUTHORIZED OFFICER ,
THE THRISSUR DT. CO-OPERATIVE BANK LTD.
HEAD OFFICE, SAHAKARANA SAPTHADHI MANDIRAM
TUDA ROAD, KOVILAKATHUPADAM
THIRUVAMBADY P.O, THRISSUR , PIN - 680 022.
BY ADV P.C.SASIDHARAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 40533 OF 2022
2
JUDGMENT
The petitioner has approached this Court challenging
proceedings under the SARFAESI Act which have been initiated by
the bank for recovery of the amounts due from the petitioner.
2. During the course of hearing, petitioner has confined the
relief to an opportunity for repaying the overdue amount in
instalments and to obtain regularisation of the loan account.
3. It was submitted on behalf of the respondent bank that
the overdue amount after giving credit to the amount paid by the
petitioner would be approximately Rs.21,44,697/- (Rupees twenty
one lakhs forty four thousand six hundred and ninety seven 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 instalments and regularise the loan account.
4. I have heard the learned counsel for the petitioner as
well as 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
WP(C) NO. 40533 OF 2022
granted an opportunity to repay the overdue amount in 10
instalments and thereafter, if the amount so directed is repaid
within the time as directed above, to have the loan account
regularised.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
approximately Rs.21,44,697/- (Rupees twenty one lakhs forty four
thousand six hundred and ninety seven only) along with any
accrued interest, costs and charges from the petitioner and
regularise the loan account of the petitioner on the following
conditions:
i. The overdue amount of approximately Rs.21,44,697/-
(Rupees twenty one lakhs forty four thousand six hundred
and ninety seven only) along with any accrued interest,
costs and charges shall be repaid in 10 equated monthly
instalments.
ii. The first instalment shall be paid on or before 15.01.2023
and the subsequent instalments shall be paid on or before the
15th day of every succeeding month.
iii. Petitioner shall continue to pay the regular EMI's along with
the instalments directed above.
iv. In the event of default of any one instalment, 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
WP(C) NO. 40533 OF 2022
abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 40533 OF 2022
APPENDIX OF WP(C) 40533/2022
PETITIONER EXHIBITS
Exhibit P 1 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSION DATED 7/12/2022
Exhibit P 2 TRUE COPY OF THE REPRESENTATION DATED
9/12/2022 SENT BY THE PETITIONER
