Mohammed Nabeel vs The Co-Operative Urban Bank ...
2022 Latest Caselaw 8039 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. 19431 OF 2022
PETITIONERS:

    1       MOHAMMED NABEEL
            AGED 27 YEARS, S/O.SELEENA,
            SALEENA MANZIL, CHIRIYA VELIANOOR P.O.,
            KOTTARAKKARA, KOLLAM, PIN - 691 516.


    2       AMINA HASSAN
            AGED 75 YEARS, W/O.HASSAN RAWTHAR,
            SALEENA MANZIL, CHIRIYA VELIANOOR P.O.,
            KOTTARAKKARA, KOLLAM, PIN - 691 516.


            BY ADVS.
            K.K.DHEERENDRAKRISHNAN(K/1234/2003)
            N.P.ASHA


RESPONDENTS:

    1       THE CO-OPERATIVE URBAN BANK LIMITED
            NO.1909, KOTTARAKKARA, REPRESENTED BY BRANCH
            MANAGER/AUTHORISED OFFICER, PIN NO.691 506.
    2       SPECIAL SALES OFFICER
            THE CO-OPERATIVE URBAN BANK LTD., KOTTARAKKARA,
            ASSISTANT REGISTRAR (GENERAL) OFFICE,
            KOTTARAKKARA, KOLLAM, PIN NO.691 506.
            BY ADV SWAPNA VIJAYAN (FOR R1)
               ADV.K.B.SONY (G.P)



     THIS    WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION    ON   29.06.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.19431/2022
                                  -:2:-




                         JUDGMENT

Petitioners have approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due upon a loan availed by the petitioners.

2. During the course of hearing, petitioners have

confined the relief to an opportunity for repaying the

outstanding amount in installments.

3. It was submitted on behalf of the respondent bank

that the petitioners committed default in repayment and the

outstanding amount is Rs.16,69,722/-(Rupees Sixteen Lakhs

Sixty Nine Thousand Seven Hundred and Twenty Two

Only). 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

outstanding amount in limited installments. W.P.(C) No.19431/2022

4. I have heard Adv.K.K.Dheerendrakrishnan, learned

counsel for the petitioners as well as Adv.Swapna Vijayan,

the learned counsel for the respondent Bank.

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

petitioners can be granted an opportunity to repay the

outstanding amount in 15 installments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.16,69,722/-(Rupees Sixteen

Lakhs Sixty Nine Thousand Seven Hundred and Twenty

Two Only) along with bank charges from the petitioners on

the following conditions:

(i) The outstanding amount of Rs.16,69,722/- (Rupees

Sixteen Lakhs Sixty Nine Thousand Seven Hundred and

Twenty Two Only) together with any accrued interest/cost

shall be repaid in 15 equated monthly installments. W.P.(C) No.19431/2022

(ii) The first installment shall be paid on or before

22-07-2022. The subsequent installments shall be paid on

or before the last working day of the succeeding months.

(iii) In the event of default of any one installment, the

respondent bank shall be entitled to proceed in accordance

with law.

(iv) In order to enable the petitioner 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 ats W.P.(C) No.19431/2022

APPENDIX OF WP(C) 19431/2022

PETITIONER EXHIBITS EXHIBIT P1 A TRUE COPY OF THE MEMORANDUM OF SA NO.338/2019 PENDING BEFORE DEBT RECOVERY TRIBUNAL, ERNAKULAM.

EXHIBIT P2 A TRUE COPY OF THE ORDER DATED 19/11/2019 IN SA NO.338/2019 PASSED BY DEBT RECOVERY TRIBUNAL, ERNAKULAM.

EXHIBIT P3 A TRUE COPY OF THE RECEIPT OF PAYMENT OF RS.1,00,000/-.

EXHIBIT P4 A TRUE COPY OF THE COUNTER AFFIDAVIT SUBMITTED BY THE 1ST RESPONDENT BANK.

EXHIBIT P5 A TRUE COPY OF THE NOTICE SERVED ON THE PETITIONERS BY THE SECOND RESPONDENT THROUGH REGISTERED POST.