Somarajan Nair K.R vs The Authorized Officer, Kerala ...
2022 Latest Caselaw 3164 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     FRIDAY, THE 18TH DAY OF MARCH 2022 / 27TH PHALGUNA, 1943
                        WP(C) NO. 8289 OF 2022
PETITIONERS:

    1     SOMARAJAN NAIR K.R
          AGED 61 YEARS
          S/O RAGHAVAN NAIR, KOCHUPARAMPIL HOUSE, KOTHALA
          P.O.KOTTAYAM DISTRICT

    2     DHANYAKUMARI M.R,
          AGED 52 YEARS
          W/O SOMARAJAN NAIR K.R, KOCHUPARAMPIL HOUSE, KOTHALA
          P.O.KOTTAYAM DISTRICT

          BY ADVS.
          GAJENDRA SINGH RAJPUROHIT
          AKHIL GEORGE
          THANSEELA M.B.
          C.SREEKALA


RESPONDENTS:

    1     THE AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK
          LTD
          PALLICKATHODU BRANCH, ANICKADU P.O.KOTTAYAM, PIN-686
          503.

    2     THE AREA MANAGER (VAIKOM),
          KERALA BANK, KERALA STATE CO-OPERATIVE BANK, KOTTAYAM
          REGIONAL OFFICE, P.B NO 140, CENTRAL JUNCTION,
          KOTTAYAM, PIN-686 001


OTHER PRESENT:

          SRI.ATHUL SHAJI-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 8289 OF 2022

                                          2


                 BECHU KURIAN THOMAS, J.
               ===========================
                   W.P.(C) No.8289 of 2022
               ============================
                  Dated this the 18th day of March, 2022


                                    JUDGMENT

Petitioners as borrowers from the respondent bank, has

committed default in repayment of amounts due under two loan

accounts:- (i) a personal loan and (ii) a cash credit facility.

Consequently, proceedings have been initiated by the bank for

recovery of the amounts due.

2. During the course of hearing, petitioners have confined the

relief to an opportunity for repaying the liability under the two loan

accounts in instalments.

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

the petitioners committed default in repayment and the overdue

under the first loan account is Rs.19,00,348/- and the outstanding

under an overdraft facility is Rs.31,54,704. Thus the total liability as

on date is Rs.50,58,142/-. It was further submitted that though WP(C) NO. 8289 OF 2022

proceedings for recovery have been initiated, as a matter of

indulgence, the respondent bank is willing to accept repayment of

the liability due from the petitioners in limited instalments.

4. I have heard Shri.Gajendra Singh Rajpurohit, learned

counsel for the petitioners as well as Shri.Athul Shaji, learned

counsel for the respondents.

5. On a consideration of the circumstances and the

submissions of the learned counsel, this Court is of the view that

petitioners can be granted an opportunity to repay the overdue

amount under the first loan amounting to Rs.19,00,348/- and the

outstanding amount under the cash credit facility of Rs.31,54,704/-

together in twenty instalments on the following conditions:

i. The loan liability under both accounts shall be repaid in twenty equated monthly instalments along with the regular EMIs of the liability under the personal loan.

ii. The first instalment shall be paid on or before 18.04.2022 and the remaining on the 18 th day of every succeeding months.

WP(C) NO. 8289 OF 2022

iii. Once the overdue amount of Rs.19,00,348/- due under the personal loan is cleared, the said account shall be regularised.

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.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE ssa/ WP(C) NO. 8289 OF 2022

APPENDIX OF WP(C) 8289/2022

PETITIONERS' EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED BY THE 1ST RESPONDENT TO THE 1ST PETITIONER

Exhibit P2 TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED BY THE 1ST RESPONDENT TO THE 2ND PETITIONER

Exhibit P3 TRUE COPY OF THE NOTICE DATED 5.3.2022 ISSUED BY THE 2ND RESPONDENT TO THE 1ST PETITIONER

Exhibit P4 TRUE COPY OF THE NOTICE DATED 5.3.2022 ISSUED BY THE 2ND RESPONDENT TO THE 2ND PETITIONER

Exhibit P5 TRUE COPY OF THE REPRESENTATION DATED 9.3.2022 SUBMITTED BY THE 1ST PETITIONER TO THE 1ST RESPONDENT

Exhibit P6 TRUE COPY OF THE REPRESENTATION DATED 9.3.2022 SUBMITTED BY THE 2ND PETITIONER TO THE 1ST RESPONDENT