Fathima vs Kerala Bank - Kerala State ...
2022 Latest Caselaw 12068 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
    THURSDAY, THE 22ND DAY OF DECEMBER 2022 / 1ST POUSHA, 1944
                        WP(C) NO. 24914 OF 2022
PETITIONER/S:

    1     FATHIMA
          AGED 62 YEARS
          W/O. ABOOBACKAR,
          KARAKKAD HOUSE,
          KARIKKAD P.O., PERUMBILAVU, PIN - 680519
    2     SHAMSHAD BANU
          D/O. ABOOBACKAR
          KARAKKAD HOUSE,
          KARIKKAD P.O., PERUMBILAVU, PIN - 680519
          BY ADVS.
          DEEPU THANKAN
          UMMUL FIDA
          LAKSHMI SREEDHAR
          SHAHNAS K.P
          R.RAJANANDINI MENON


RESPONDENT/S:

    1     KERALA BANK - KERALA STATE CO-OPERATIVE BANK LTD.
          PERUMBILAVU BRANCH
          THRISSUR DISTRICT
          REPRESENTED BY ITS AUTHORIZED OFFICER, PIN - 680519
    2     THE AUTHORIZED OFFICER, KERALA BANK - KERALA STATE CO-
          OPERATIVE BANK LTD
          PERUMBILAVU BRANCH
          THRISSUR DISTRICT, PIN - 680519
          BY ADV SRI.K.RAVIKUMAR, SC, KERALA STATE COOPERATIVE
          BANK LTD.




          ADV. P C SASIDHARAN (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 24914 OF 2022                  2



                              JUDGMENT

Petitioners have approached this Court, challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioners.

2. During the course of hearing, petitioners have

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 petitioners availed a mortgage loan from the

respondent bank and committed default in repayment and

the overdue amount, as on 22.12.2022, is Rs.8,26,070/-

(Rupees Eight lakhs twenty six thousand and seventy 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 petitioners

as well as the learned 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

petitioners can be granted an opportunity to repay the

overdue amount in fifteen 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 Rs.8,26,070/- (Rupees Eight lakhs twenty six

thousand and seventy only) along with bank charges from

the petitioners and regularise the loan account of the

petitioners in the following manner:-

(i) The overdue amount of Rs.8,26,070/- (Rupees Eight lakhs twenty six thousand and seventy only) along with any accrued interest and charges shall be repaid in fifteen equated monthly instalments;

(ii)The first instalment shall be paid on or before 16.01.2023 and the subsequent instalments shall be paid on or before the 16th day of each succeeding month;

(iii)Petitioners shall continue to pay the regular EMI's/instalments 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 petitioners 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 ajt

APPENDIX OF WP(C) 24914/2022

PETITIONER EXHIBITS Exhibit P-1 TRUE COPY OF THE NOTICE DATED 14/07/2022. Exhibit P-2 TRUE COPY OF THE PAPER PUBLICATION DATED 20/07/2022 IN THE VERNACULAR LANGUAGE.