Haris.A vs 1. The Calicut Co-Operative Urban ...
2022 Latest Caselaw 8026 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
     WEDNESDAY, THE 29TH DAY OF JUNE 2022 / 8TH ASHADHA, 1944
                       WP(C) NO. 20523 OF 2022
PETITIONER:

          HARIS.A,
          AGED 42 YEARS,
          EDAVANA HOUSE, KANNANGARA P.O., CHELANNOOR,
          KOZHIKODE DISTRICT, PIN - 673 616.

          BY ADVS.
          M.B.SHYNI
          R.RAJESH KUMAR
          V.R.ANILKUMAR
          RAMEES P.K.
          ERFANA PARAMBADAN
          SUBITHA SUBRAMANIYAN



RESPONDENTS:

    1     THE CALICUT CO-OPERATIVE URBAN BANK LTD. NO. 1538,
          CALICUT REPRESENTED BY ITS MANAGER.

    2     THE AUTHORIZED OFFICER,
          GENERAL MANAGER -IN- CHARGE- RECOVERY, THE CALICUT
          CO-OPERATIVE URBAN BANK, CALICUT, PIN - 673 002.

    3     THE BRANCH MANAGER,
          CALICUT CO-OPERATIVE URBAN BANK, CALICUT,
          PIN - 673 002.

          BY ADV DEVAPRASANTH.P.J.




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 20523 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 loan account.

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

the petitioner committed default in repayment and the total

overdue amount as on 24.06.2022 is Rs.6,07,293/-(Rupees six

lakhs seven thousand two hundred and ninety three only) towards

the loan. 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 respondents.

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 WP(C) NO. 20523 OF 2022

an opportunity to repay the total overdue amount on condition that

Rs.50,000/- shall be paid on or before 08.07.2022 and the balance

amount shall be paid in 10 equal monthly instalments, the 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

Rs.6,07,293/-(Rupees six lakhs seven thousand two hundred and

ninety three only) along with bank charges from the petitioner and

regularise the loan account of the petitioner on the following

conditions:

i. The petitioner shall pay a sum of Rs.50,000/- (Rupees fifty thousand only) on or before 08.07.2022; balance overdue amount along with any accrued interest and charges shall be repaid in 10 equal 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. The 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, WP(C) NO. 20523 OF 2022

all coercive proceedings shall be kept in abeyance.

Taking of physical possession of the petitioner's property and

the further coercive shall be deferred on condition that the

petitioner pays a sum of Rs. 50,000/- (Rupees fifty thousand only)

on or before 08.07.2022 and the balance overdue amount together

with regular EMIs in 10 equal monthly installments commencing

from 30.07.2022.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 20523 OF 2022

APPENDIX OF WP(C) 20523/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER DATED 17/02/2021

Exhibit P2 A TRUE COY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 23/04/2021

Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT DATED 16/09/2021

Exhibit P4 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 15/06/2022

Exhibit P5 A TRUE COPY REPRESENTATION SUBMITTED BY THE PETITIONER TO THE 3RD RESPONDENT DATED 02/06/2022