Johnson Daniel vs The Chief Manager-Authorised ...
2022 Latest Caselaw 11873 Ker

              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. 41721 OF 2022
PETITIONER:

          JOHNSON DANIEL
          AGED 59 YEARS
          S/O. DANIEL
          RESIDING AT VETTIYEZHATHU PUTHUVAL, SAKTHIKULANGARA P
          O.,
          SAKTHIKULANGARA VILLAGE, KOLLAM, KERALA 691581.

          BY ADV I.S.LAILA


RESPONDENT:


          THE CHIEF MANAGER-AUTHORISED OFFICER,
          THE QUILON CO-OPERATIVE URBAN BANK LTD. NO.960
          Y M C A ROAD, KOLLAM. 691001, PIN - 691001

     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. 41721 of 2022              2



                            JUDGMENT

Dated this the 21st day of December, 2022

Petitioner has approached this Court challenging proceedings

initiated under the Securitisation and Reconstruction of Financial

Assets and Enforcement of Security Interest Act (SARFAESI Act) for

recovery of the amounts due upon a loan availed by the petitioner.

2. During the course of hearing, petitioner has confined the

relief to an opportunity for repaying the overdue amount in

installments and to obtain regularization of the loan account.

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

petitioner committed default in repayment and the overdue amount is

Rs. 32,25,427/- (Rupees Thirty Two Lakh Twenty Five Thousand

Four Hundred Twenty 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 installments and regularize the loan

account.

4. I have heard Adv. I.S. Laila, learned counsel for the petitioner

as well as Adv. Renu. D.P, the learned counsel for the respondent.

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. 32,25,427/-

(Rupees Thirty Two Lakh Twenty Five Thousand Four Hundred

Twenty Seven 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 Rs. 32,25,427/-

(Rupees Thirty Two Lakh Twenty Five Thousand Four

Hundred Twenty Seven only) shall be repaid in 12

equated monthly installments along with any accrued

interest and costs;

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

31-01-2023. 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 as 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 mtk

APPENDIX OF WP(C) 41721/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE TAX RECEIPT NO.KL02030702169/2022 ISSUED BY THE SAKTHI KULANGARA VILLAGE IS PRODUCED HEREWITH

Exhibit P2 TRUE COPY OF THE MEDICAL SUMMARY OF THE PETITIONER WIFE IS PRODUCED HEREWITH

Exhibit P3 TRUE COPY OF THE RELEVANT PAGES OF SAVINGS BANK ACCOUNT OF THE PETITIONER IS PRODUCED HEREWITH

Exhibit P4 TRUE COPY OF THE PLAINT OF O.S.NO.603 OF 2022 BEFORE THE MUNSIFF COURT KOLLAM IS PRODUCED HEREWITH

Exhibit P5 TRUE COPY OF THE NOTICE UNDER SECTION 13(2) DEMAND NOTICE DATED 24-08-2020 ISSUED BY THE RESPONDENT BANK IS PRODUCED HEREWITH

Exhibit P6 TRUE COPY OF THE LETTER NO.

JRGKLM/3660/2022, DATED 29-11-2022 OF THE JOINT REGISTRAR TO THE SECRETARY OF THE RESPONDENT BANK IS PRODUCED HEREWITH

Exhibit P7 TRUE COPY OF THE 14(1) OF THE SARFAESI PROCEEDINGS ON MC NO. 635/22 OF CJM COURT KOLLAM THROUGH THE ADVOCATE COMMISSIONER NOTICE DATED 07-12-2022 IS PRODUCED HEREWITH.