Appukuttanachari S vs The Quilon Co-Operative Urban ...
2022 Latest Caselaw 12691 Ker

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                             PRESENT
               THE HONOURABLE MR.JUSTICE N.NAGARESH
  FRIDAY, THE 30TH DAY OF DECEMBER 2022 / 9TH POUSHA, 1944
                     WP(C) NO. 42918 OF 2022
PETITIONER:

          APPUKUTTANACHARI S
          AGED 69 YEARS
          S/O SIVARAMANACHARI
          SYAM BHAVANAM, NATTUVATHUKKAL,
          EDAVATTOM, VELLIMON P.O, PERINAD,
          KOLLAM, PIN - 691511

          BY ADV JOMY K. JOSE


RESPONDENTS:

    1     THE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960
          REPRESENTED BY ITS BANK MANAGER,
          CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING,
          CHANDANATHOPE P.O, PIN - 691014
    2     THE AUTHORIZED OFFICER
          THE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960,
          CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING,
          CHANDANATHOPE P.O, PIN - 691014

          SMT.RENUE DP-SC

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 30.12.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
 WP(C) No.42918 of 2022



                               2


                            JUDGMENT

Dated this the 30th day of December, 2022

The petitioner is owner in possession of 1.70 Ares of

property in Re-Survey No.566/4 of Block No.14 of Perinad

Village, Kollam Taluk in Kollam District. The petitioner availed

loan of ₹3,00,000/- against the property mentioned above

including a residential building, from the respondent-Bank.

2. The petitioner submits that the initial instalments

towards the loan account was promptly made by the

petitioner. However, due to financial stringency, he was

unable to pay the instalments as agreed. The 1 st respondent

approached the Chief Judicial Magistrate, Kollam filing M.C.

No.367/2022 and an Advocate Commissioner has been

appointed in that case. Thereafter, the Advocate

Commissioner issued a notice to the petitioner under Section WP(C) No.42918 of 2022

14(1) of the Securitization and Reconstruction of Financial

Assets and Enforcement of Security Interest Act, 2002. The

possession of the above said property is scheduled to be held

on 29.12.2022. The petitioner states that he is ready to clear

off the arrears in instalments.

3. The Standing Counsel representing the

respondents submits that the total amount due from the

petitioner as on today is ₹3,11,202/-.

4. Heard the learned counsel for the petitioner and

Smt.Renu D.P., the learned Standing Counsel representing

the respondents.

In the facts and circumstances of the case, the writ

petition is disposed permitting the petitioner to clear off the

entire liabilities due to the respondents in ten Equal Monthly

Instalments. The first of such instalments shall be paid on or

before 15.01.2023 and the remaining nine instalments shall WP(C) No.42918 of 2022

be paid in the consecutive months. If the petitioner commits

any defaults in paying any instalments as directed above, the

respondents will be at liberty to proceed against the petitioner

in accordance with law. If the petitioner remits the instalments

as directed above, all coercive proceedings against the

petitioner shall stand deferred. Needless to say, the petitioner

will be liable to pay accruing interest and other charges, if any.

Sd/-

N.NAGARESH JUDGE spk WP(C) No.42918 of 2022

APPENDIX OF WP(C) 42918/2022

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN MC NUMBER 367/2022 DATED 13-12-2022

RESPONDENTS' EXHIBITS : NIL