Bobby John vs Authorised Officer
2022 Latest Caselaw 6854 Ker

W.P(C).18126/22                      1

                  IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                   THE HONOURABLE MR. JUSTICE GOPINATH P.
          TUESDAY, THE 14TH DAY OF JUNE 2022 / 24TH JYAISHTA, 1944
                            WP(C) NO. 18126 OF 2022
PETITIONER/S:

      1       BOBBY JOHN
              AGED 44 YEARS
              S/O JOHN, ARAMANAPARAMBIL HOUSE, PIRAVOM P O, ERNAKULAM-
              686664.

      2       BEENA BOBBY,
              AGED 43 YEARS
              W/O BOBBY JOHN, ARAMANAPARAMPIL HOUSE, PIRAVOM PO,
              ERNAKULAM - 686664.

              BY ADVS.
              C.C.ANOOP
              BOBY THOMAS



RESPONDENT/S:

      1       AUTHORISED OFFICER
              KERALA GRAMIN BANK, REGIONAL OFFICE, ERNAKULAM COASTAL
              TOWERS ( KARITHATT),
              NR. SAMSKARA JN, PIPE LINE ROAD,PALARIVATTOM,
              COCHIN-682025.

      2       THE MANAGER,
              KERALA GRAMIN BANK, PIRAVOM BRANCH,PIRAVOM-686664.

              SRI.ANEESH K.M., SC


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P(C).18126/22                          2

                                     JUDGMENT

Petitioners have 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 a housing loan and a cash credit facility availed

by them.

2. During the course of hearing, petitioners have confined their relief to an

opportunity for repaying the overdue amounts in the housing loan as well as the

cash credit facility in instalments and to obtain regularisation of the loan

accounts.

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

committed default in repayment and the overdue amount in respect of the housing

loan is Rs.3,42,416/- and that of the cash credit facility is Rs.3,35,529/-. 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 amounts in limited instalments and regularise the housing loan account.

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

learned Standing Counsel for the respondent Bank.

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

situation now prevailing, apart from the submissions made as recorded above and

considering the fact that one of the loans is a housing loan and also taking into

account the fact that the petitioners have undertaken to clear off the overdue

amounts along with regular EMIs, I am of the view that the petitioners can be

granted an opportunity to clear off the overdue amounts in fifteen (15) equal

instalments first of which shall be paid on or before 30.6.2022 and thereafter, if

the amounts so directed are repaid within the time as directed above, to have the

housing loan account regularised.

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

repayment of the entire overdue amount of Rs.3,42,416/- in respect of the housing

loan and Rs.3,35,529/- in respect of the cash credit facility, along with accrued

interest and bank charges from the petitioners and regularise the housing loan

account of the petitioners on the following conditions:

(i) The overdue amounts of Rs.3,42,416/- in respect of the housing loan and Rs.3,35,529/- in respect of the cash credit facility, together with any accrued interest and charges, shall be repaid in fifteen equated monthly instalments.

(ii) The first instalment shall be paid on or before 30.6.2022 and the subsequent instalments shall be paid on the last working day of every succeeding month.

(iii) Petitioners shall continue to pay the regular EMIs in respect of the housing loan along with the instalments directed above. The petitioners shall also service the OD account and keep it free from default.

(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 petitioners 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 okb/15.6.22 //True copy// PS to Judge

APPENDIX OF WP(C) 18126/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE RECEIVED BY THE PETITIONER FROM THE RESPONDENT BANK DATED 05.05.2022.

Exhibit P2 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER DATED 02.06.2022.