Sheela N.K vs The Authorized Officer
2022 Latest Caselaw 12227 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. 42035 OF 2022
PETITIONERS:

     1       SHEELA N.K
             AGED 39 YEARS
             W/O. MADHU
             URALUKUTHIPARA HOUSE,
             THENGODE P.O, THENGODE, KAKKANAD,
             ERNAKULAM DISTRICT,, PIN - 682030
     2       RAJU. I.V
             AGED 53 YEARS
             S/O.VALLON
             IYKKARASSERY HOUSE, THENGODE P.O,
             THENGODE, KAKKANAD,
             ERNAKULAM DISTRICT, PIN - 682030
             BY ADVS.
             G.G.MANOJ
             S.SARATH PRASAD

RESPONDENTS:

     1       THE AUTHORIZED OFFICER
             PEOPLE'S URBAN CO-OPERATIVE BANK LIMITED NO. 51,
             THRIPPUNITHURA, MAIN ROAD, EAST FORT GATE, THRIPPUNITHURA
             MAIN ROAD, SH15, THRIPPUNITHURA, KOCHI,
             KERALA , PIN - 682301
     2       PEOPLE'S URBAN CO-OPERATIVE BANK LIMITED NO. 51
             THRIPPUNITHURA, MAIN ROAD, EAST FORT GATE, THRIPPUNITHURA
             MAIN ROAD, SH15, THRIPPUNITHURA, KOCHI, KERALA, PIN - 682301
             REPRESENTED BY ITS MANAGER.
             ADV. DEVAPRASANTH P J, STANDING COUNSEL

     THIS    WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
22.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.42035 of 2022
                                 2




                          JUDGMENT

Dated this the 22nd day of December, 2022

The petitioners availed credit facilities from the

respondent bank and committed default in repayment

of the liability. The property of the petitioners which

was mortgaged to secure the repayment of the loan

was brought to sale and since there were no bidders,

the bank has itself purchased the property in the year

2020. The property is now a Non-Banking Asset of the

respondent bank.

2. On proceedings being initiated against the

petitioners under the provisions of Section 14 of the

SARFAESI Act, 2002 to take physical possession of

the property, the petitioners have remitted a sum of

Rs.3,00,000/- towards the loan liability. The balance

amount payable by the petitioners as on today is

stated to be Rs.5,54,694/-.

3. Learned counsel for the petitioners states that WPC No.42035 of 2022

the petitioners may be permitted to clear that liability

in some instalments. The medical conditions of the

2nd petitioner is pointed out with reference to Ext.P4

as a ground for granting such indulgence.

4. Learned counsel appearing for the respondent

bank submits that the bank has no objection in

permitting the petitioners to clear the balance amount

due in some reasonable instalments.

5. I have heard the learned counsel for the

petitioners as well as the learned Standing Counsel

for the respondents.

6. 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 outstanding amount in

fifteen (15) instalments.

7. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire WPC No.42035 of 2022

outstanding amount of Rs.5,54,694/- along with bank

charges from the petitioners on the following

conditions:

(i) The outstanding amount of Rs.5,54,694/-

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 16.01.2023 and subsequent

instalments shall be paid on or before

16th 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 petitioners to repay

the entire amounts, all coercive

proceedings shall be kept in abeyance.

8. If the petitioners wish to apply for One Time WPC No.42035 of 2022

Settlement, the petitioners may do so

notwithstanding the directions contained in this

judgment. However, the filing of such application will

not absolve the petitioners of the liability to pay the

amounts in terms of this judgment till One Time

Settlement is granted. If One Time Settlement is

granted, the petitioners will be governed by the terms

of that One Time Settlement and not with the terms

of this judgment.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE SKP/22-12 WPC No.42035 of 2022

APPENDIX OF WP(C) 42035/2022

PETITIONERS' EXHIBITS:

EXHIBIT1 A TRUE COPY OF THE SECTION 13 (2) NOTICE ISSUED TO THE PETITIONER NO.2 BY THE RESPONDENT NO.1 EXHIBIT2 A TRUE COPY OF THE RECEIPT DATED 11.04 2022 ISSUED BY THE RESPONDENT NO.2 BANK TO THE PETITIONERS EXHIBIT3 A TRUE COPY OF THE RECEIPT DATED 06.07.2022 ISSUED BY THE RESPONDENT NO.2 BANK TO THE PETITIONERS EXHIBIT4 A TRUE COPY OF THE CERTIFICATE NO.

LH.LIG/MC/99/2022 DATED 26.10.2022 ISSUED BY LISIE HOSPITAL EXHIBIT5 A TRUE COPY OF THE NOTICE ISSUED BY THE COMMISSIONER IN M.C. NO. 263 OF 2021 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE