Haneefa K. K vs The South Indian Bank Ltd
2022 Latest Caselaw 8345 Ker

W.P.(C).18220/22                       1

                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                    THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 1ST DAY OF JULY 2022 / 10TH ASHADHA, 1944
                           WP(C) NO. 18220 OF 2022
PETITIONER/S:

              HANEEFA K. K.
              AGED 73 YEARS
              S/O. KOCHUMOHAMMED, KOMALATH HOUSE, VATANAPPILLY P. O.,
              THRISSUR DISTRICT - 680 614.

              BY ADVS.
              DENNY VARGHESE
              LIJO RAJU


RESPONDENT/S:

              THE SOUTH INDIAN BANK LTD.
              REGIONAL OFFICE, THRISSUR, PLATINUM JUBILEE BUILDING,
              CIVIL LANE ROAD, AYYANTHOLE, THRISSUR - 680 003,
              REPRESENTED BY ITS AUTHORISED OFFICER.

              BY ADVS.
              SUNIL SHANKER
              SANDHRA.S


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C).18220/22                              2



                                     JUDGMENT

Petitioner has approached this Court challenging proceedings initiated

under the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (hereinafter referred to as the

Securitisation Act) for recovery of the amounts due upon an overdraft facility

availed by the 1st petitioner from the respondent bank.

2. It is submitted that the total outstanding liability of the petitioner

in respect of the overdraft facility as on 01.7.2022 is Rs.70,61,921/-. During the

course of hearing, petitioner has confined the relief to an opportunity for

repaying the outstanding amount in instalments.

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

petitioner is a chronic defaulter and no indulgence whatsoever can be shown to

him. However, it is submitted that if the petitioner is willing to repay the entire

outstanding liability along with accrued interest and costs in fifteen (15)

instalments, the bank is ready to accept the same.

4. The learned counsel for the petitioner submitted that the petitioner

may be given an opportunity to repay the entire liability in fifteen (15)

instalments.

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

outstanding amounts in fifteen (15) instalments.

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

accept repayment of the entire outstanding amount mentioned above along

with bank charges from the petitioner on the following conditions:

(i) Petitioner shall discharge the liability to the respondent bank by paying the entire outstanding amount mentioned above together with any accrued interest/costs in fifteen (15) equated monthly instalments commencing from 15.07. 2022.

(ii) Petitioner shall pay the subsequent instalments on or before the last working 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 petitioner to repay the entire amount, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE okb/1.7.22 //True copy// P.S. to Judge

APPENDIX OF WP(C) 18220/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF ORDER IN CRL. M. C. NO.922/2021 DATED 01.01.2022 ISSUED BY THE CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR.