Fousia P.T vs The Authorised Officer
2022 Latest Caselaw 5454 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     FRIDAY, THE 20TH DAY OF MAY 2022 / 30TH VAISAKHA, 1944
                       WP(C) NO. 8457 OF 2022
PETITIONER:

          FOUSIA P.T.,AGED 37 YEARS
          D/O. ABOOBACKER KOYA, CHETHITHHOPPA KOYA,
          CHETHITHOPPA PARAMBU, KONNADU, WEST HILL P.O,
          KOZHIKODE 673 005.
          BY ADVS.
          B.PREMNATH (E)
          SARATH M.S.


RESPONDENTS:

    1     THE AUTHORISED OFFICER,
          (UNDER THE SARFAESI ACT, 2002),
          THE CALICUT CO-OPERATIVE URBAN BANK LIMITED,
          KALLAYI ROAD, KOZHIKODE 673 002.
    2     THE CALICUT CO-OPERATIVE URBAN BANK LIMITED NO.
          1538, KALLAYI ROAD, KOZHIKODE 673 002,
          REPRESENTED BY ITS BRANCH MANAGER.
          BY ADV MANJU, SC



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
20.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) 8457/2022
                                           2



                       BECHU KURIAN THOMAS, J
                     ..............................................
                         W.P.(C) No.8457 of 2022
                        .....................................
                   Dated this the 20 th day of May, 2022

                                     JUDGMENT

Petitioner as borrower from the respondent-Bank, has

committed default in repayment. Consequently,

proceedings have been initiated by the Bank for recovery

of the amounts due.

2. During the course of the 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

petitioner committed default in repayment and the

overdue amount is Rs.5,13,522/-. 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 WP(C) 8457/2022

account.

4. I have heard Sri.B.Premnath, the learned counsel for the

petitioner as well as Smt.M.Manju, the learned Standing

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 an opportunity to repay the

overdue amount in '10' instalments 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.5,13,522/- along with bank charges and applicable

interest from the petitioner and to regularise the loan

account of the petitioner on the following conditions:

(i). The overdue amount of Rs.5,13,522/- along with

bank charges and applicable interest shall be repaid in

'10' equated monthly instalments.

(ii). The first instalment shall be paid on or before WP(C) 8457/2022

24.06.2022 and the remaining instalments shall be paid

on or before the 24th day of every succeeding month.

(iii). 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, all coercive proceedings initiated against the

petitioner shall be kept in abeyance.

The writ petition is disposed of.

Sd/-

BECHU KURIAN THOMAS JUDGE

AMV/21/05//2022 WP(C) 8457/2022

APPENDIX OF WP(C) 8457/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE LOAN SANCTION MEMORANDUM ISSUED BY THE 2ND RESPONDENT, DATED 27.04.2018.

Exhibit P2 TRUE COPY OF POSSESSION NOTICE SERVED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE HON'BLE CHIEF JUDICIAL MAGISTRATE'S COURT, KOZHIKODE IN M.C. NO. 350/2019 DATED 31.01.2020.

Exhibit P3 TRUE COPY OF THE RECEIPTS FOR PAYMENT OF RS. 1,25,000/- DATED 11.02.2020 AND RS.50,000/- DATED 15.02.2020 IN THE LOAN ACCOUNT NO. 109230010000779 OF THE 2ND RESPONDENT.

Exhibit P4 TRUE COPY OF THE DEMAND NOTICE DATED 31.12.2021 ISSUED BY THE 1ST RESPONDENT POINTING OUT OF THE DEFAULTED AMOUNT OF LOAN OF THE PETITIONER.

Exhibit P5 TRUE COPY OF CHALAN NO. 1261107, ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER FOR THE DEPOSIT OF AN AMOUNT OF RS. 1,34,000/- DATED 15.01.2022. Exhibit P6 TRUE COPY OF THE NOTICE SERVED BY THE ADVOCATE COMMISSIONER ON THE PETITIONER IN M.C. NO.350/2109 OF THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE DATED 22.02.2022.

RESPONDENTS EXHIBITS : NIL

TRUE COPY