Kerala High Court
Sunny Thomas vs Authorised Officer (Chief ... on 28 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 28TH DAY OF JUNE 2022/7TH ASHADHA, 1944
WP(C) NO. 15042 OF 2022
PETITIONER:
SUNNY THOMAS, AGED 61 YEARS,
S/O THOMAS, KALATHIL HOUSE,
THEKKEKKARA P.O., MANCOMBU,
ALAPPUZHA, PIN - 688 503.
BY ADV K.C.SUDHEER
RESPONDENT:
AUTHORISED OFFICER (CHIEF MANAGER),
UNION BANK OF INDIA, ALAPPUZHA BRANCH,
AATD BUILDING, OPPOSITE GENERAL HOSPITAL,
ALAPPUZHA - 688 011.
SRI. A S P KURUP (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 28.06.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.15042/2022
:2 :
JUDGMENT
Dated this the 28th day of June, 2022
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
SARFAESI Act) for recovery of the amount due upon
housing loan availed by 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 and the
overdue amount is `3,00,000/-. It was further submitted that
though proceedings for recovery have been initiated, as a
matter of indulgence, the respondent bank is willing to
WP(C) No.15042/2022
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 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 this is a housing loan and also taking into account
the fact that the petitioner has undertaken to clear off the
overdue amount along with regular EMIs, I am of the view
that the petitioner can be granted an opportunity to clear off
the overdue amount in twelve (12) equal instalments first of
which shall be paid on or before 30.07.2022 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 `3,00,000/- along with bank charges from the
petitioner and regularise the loan account of the petitioner
WP(C) No.15042/2022
on the following conditions:
(i) The overdue amount of `3,00,000/- together
with any accrued interest and charges shall be
repaid in twelve (12) 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 as 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 amount, all coercive proceedings shall
be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
ncd/28.06.22
WP(C) No.15042/2022
APPENDIX OF WP(C) 15042/2022
PETITIONER'S EXHIBITS
Exhibit P1 THE TRUE COPY OF THE INSURANCE
POLICY DATED 21.12.2016.
Exhibit P2 THE TRUE COPY OF THE COMPLAINT
FILED BY THE PETITIONER AS CC
NO.82/2019 DATED 29.03.2019 BEFORE
THE CDRF ALAPPUZHA.
Exhibit P3 THE TRUE COPY OF THE POSSESSION
NOTICE FOR IMMOVABLE PROPERTY UNDER
RULE (1) OF SECURITY INTEREST
(ENFORCEMENT) RULES 2002 DATED
22.04.2022.
Exhibit P4 THE TRUE COPY OF THE NOTICE UNDER
SECTION 13(2) OF THE SECURITISATION
AND RECONSTRUCTION OF FINANCIAL
ASSETS AND ENFORCEMENT OF SECURITY
INTEREST ACT, 2002 DATED
08.12.2021.
Exhibit P5 THE TRUE COPY OF THE REPRESENTATION
DATED 23.04.2022.
