Arunodayam @Udaya vs The Branch Manager
2022 Latest Caselaw 12445 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
     FRIDAY, THE 23RD DAY OF DECEMBER 2022 / 2ND POUSHA, 1944
                       WP(C) NO. 41068 OF 2022
PETITIONER:

          ARUNODAYAM @ UDAYA,
          AGED 52 YEARS,
          W/O.SEBASTIAN, RESIDING AT AGNES BHAVAN,
          NEELESWARAMTHOPPU, NEENDAKARA P.O, KOLLAM - 691 582.

          BY ADVS.
          S.SREEKUMAR (KOLLAM)
          K.VIJAYAN
          NAMITHA RAJESH



RESPONDENTS:

    1     THE BRANCH MANAGER,
          THE QUILON CO-OPERATIVE URBAN BANK LTD.
          NO.960,SAKTHIKULANGARA BRANCH, KOLLAM - 691 581.

    2     THE AUTHORIZED OFFICER,
          THE QUILON CO-OPERATIVE URBAN BANK LTD. NO.960,
          SAKTHIKULANGARA BRANCH, KOLLAM - 691 581.

          ADV. D P RENU (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 41068 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. The learned counsel for the petitioner submits that the

petitioner is a fisher-woman by profession. It is submitted that

petitioner's son was afflicted with cancer and huge amounts had

to be spent for his treatment. It is submitted that the son of the

petitioner died on 14.09.2022. It is submitted that the default

occurred only on account of the above and the petitioner may be

given a liberty of repaying the amount in instalments.

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

the petitioner committed default in repayment of the business

loan and the overdue amount as on 20.12.2022 is Rs.12,24,643/-

(Rupees twelve lakhs twenty four thousand six hundred and forty

three only). The learned counsel appearing for the respondent

Bank points out that the loan was availed in the year 2017. It is

submitted that the account became NPA on 20.06.2018. It is

submitted that the term of the loan is to expire on 20.07.2024 and

while the Bank has no objection in granting reasonable WP(C) NO. 41068 OF 2022

instalments to the petitioner, the number of instalments may be

limited to 10.

4. I have heard the learned counsel for the petitioner as well

as the learned counsel for the respondents.

5. Having heard the learned counsel for the petitioner and

the learned counsel for the respondent Bank and having regard to

the facts recorded herein above, I am of the opinion that the

petitioner can be granted 20 instalments to clear the overdue

amounts along with regular EMI.

6. Accordingly, there will be a direction to the respondent

bank to accept repayment of the entire overdue amount of

Rs.12,24,643/-(Rupees twelve lakhs twenty four thousand six

hundred and forty three 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 Rs.12,24,643/-(Rupees twelve lakhs twenty four thousand six hundred and forty three only) along with any accrued interest, costs and charges shall be repaid in 20 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 WP(C) NO. 41068 OF 2022

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 abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 41068 OF 2022

APPENDIX OF WP(C) 41068/2022

PETITIONER EXHIBITS

Exhibit-P1 THE TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 1ST RESPONDENT DATED 16.04.2019

Exhibit-P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED 28.11.2022 ISSUED BY THE ADVOCATE COMMISSIONER

Exhibit- P3 THE TRUE COPY OF THE REPRESENTATION DATED 01.11.2022 GIVEN TO THE 1ST RESPONDENT

Exhibit-P4 TRUE COPY OF THE DEATH CERTIFICATE OF PETITIONER'S SON