Basima Basheer vs South Indian Bank
2022 Latest Caselaw 8556 Ker

Citation : 2022 Latest Caselaw 8556 Ker
Judgement Date : 6 July, 2022

Kerala High Court

Basima Basheer vs South Indian Bank on 6 July, 2022

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
               THE HONOURABLE MR. JUSTICE GOPINATH P.
     WEDNESDAY, THE 6TH DAY OF JULY 2022 / 15TH ASHADHA, 1944
                      WP(C) NO. 21829 OF 2022
PETITIONER:

          BASIMA BASHEER,
          AGED 55 YEARS,
          W/O BASHEER,
          MUSLEEMVEETIL HOUSE,
          CHENTRAPPINI PO,
          CHENDRAPPINI, THRISSUR,
          KERALA-680 687.

          BY ADVS.
          S.MUMTAZ
          ALISHA ASLAM



RESPONDENT:

          SOUTH INDIAN BANK,
          AKP JN, CHRIST COLLEGE ROAD,
          IRINJALAKUDA,REPRESENTED BY AUTHORISED OFFICER,
          THRISSUR - 680 125.

          SRI. SUNIL SHANKER, SC




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 21829 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 housing loan

account.

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

the petitioner committed default in repayment and the overdue

amount is Rs.10,63,225/-(Rupees ten lakhs sixty three thousand

two hundred and twenty five only) as on 06.07.2022. 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 respondent.

5. Having regard to the circumstances of the case and the

situation now prevailing, apart from the submissions made as WP(C) NO. 21829 OF 2022

recorded above, I am of the view that the petitioner can be

granted an opportunity to repay the overdue amount in four

instalments and 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.10,63,225/-(Rupees ten lakhs sixty three thousand two

hundred and twenty five only) along with bank charges from the

petitioner and regularise the loan account of the petitioner on the

following conditions:

i. The overdue amount of Rs.10,63,225/-(Rupees ten lakhs sixty three thousand two hundred and twenty five only) along with any accrued interest and charges shall be repaid in four equated monthly instalments.

ii. The first instalment shall be paid on or before 30.07.2022 and the subsequent instalments shall be paid on the last working 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. WP(C) NO. 21829 OF 2022

As soon as the account is regularized, the possession of the

secured asset, which is now with the respondent Bank shall be

returned to the petitioner.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 21829 OF 2022

APPENDIX OF WP(C) 21829/2022

PETITIONER EXHIBITS