Sharadha Amma vs The Authorised Officer
2022 Latest Caselaw 12491 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. 37673 OF 2022
PETITIONER:

          SHARADHA AMMA,
          AGED 58 YEARS,
          W/O RAGHAVAN KIDAVU, PUTHALATH POYIN HOUSE,
          KINALOOR.P.O, KOZHIKODE DISTRICT - 673 612.

          BY ADVS.
          NABIL KHADER
          ARJUN C BHASKAR
          MAJEED V.Y.
          GOKUL DEVIS
          MUHAMMED SAFEER A.
          RAGEEBA SHAHUL



RESPONDENTS:

    1     THE AUTHORISED OFFICER,
          KERALA STATE CO-OPERATIVE BANK, KALLAI ROAD,
          CHALAPPURAM.P.O, KOZHIKODE - 673 002.

    2     KERALA STATE CO-OPERATIVE BANK,
          REPRESENTED BY ITS AUTHORISED OFFICER, KALLAI ROAD,
          CHALAPPURAM.P.O, KOZHIKODE , PIN - 673002

          BY SRI.P.C.SASIDHARAN, 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. 37673 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 petitioner committed default in repayment of a consumption

loan and the overdue amount as on 13.12.2022 is Rs.9,34,659/-

(Rupees nine lakhs thirty four thousand six hundred and fifty nine

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 granted

an opportunity to repay the overdue amount in 15 instalments and WP(C) NO. 37673 OF 2022

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.9,34,659/-(Rupees nine lakhs thirty four thousand six hundred

and fifty nine 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.9,34,659/-(Rupees nine lakhs thirty four thousand six hundred and fifty nine only) along with any accrued interest, costs and charges shall be repaid in 15 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 15 th 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 abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 37673 OF 2022

APPENDIX OF WP(C) 37673/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(8) OF THE SARFAESI ACT ISSUED BY THE RESPONDENT BANK DATED 03/11/2022 TO THE PETITIONER