Manju.P.G vs The Trivandrum Co-Operative ...
2022 Latest Caselaw 5917 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
        TUESDAY, THE 31ST DAY OF MAY 2022 / 10TH JYAISHTA, 1944
                       WP(C) NO. 17493 OF 2022
PETITIONER:

            MANJU.P.G,
            AGED 49 YEARS,
            W/O.SASI.K. TC-51/1013, VALIYAVILA PUTHENVEEDU,
            ARUVAKKODE, INDUSTRIAL ESTATE.P.O., PAPPANAMKODE,
            THIRUVANANTHAPURAM - 695 018.

            BY ADVS.
            A.ABDUL RAHMAN (A-1917)
            VARNIBHA.T



RESPONDENTS:

    1       THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.,
            HEAD OFFICE, P.B.NO.115, M.G.ROAD.,
            THIRUVANANTHAPURAM-695 001,
            REPRESENTED BY IT'S AUTHORISED OFFICER.

    2       HARIDAS.B.,
            AGED 40 YEARS
            S/O BHASI, KAMUKINKUZHYVEEDU, INDUSTRIAL ESTATE.P.O.,
            SATHYAN NAGAR, PAPPANAMKODU,
            THIRUVANANTHAPURAM-695 018.

            BY SMT NISHA GEORGE


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17493 OF 2022

                                   2


                             JUDGMENT

The petitioner is a guarantor in respect of a loan availed

by the 2nd respondent. She has approached this Court

challenging proceedings initiated her under the SARFAESI Act

and states that if reasonable installment facility is granted, she

is willing to discharge the liability.

2. The learned Standing Counsel for the 1 st respondent

Bank opposes the prayer. It is submitted that the 2 nd

respondent is a chronic defaulter and he had also approached

this Court earlier and obtained an interim order in W.P.

(C)No.7870 of 2022 on condition that he pays a sum of Rs.10

lakhs on or before 10.03.2022. It is submitted that no payment

has been made pursuant to the order.

3. The learned counsel appearing for the petitioner

submits that the proceedings have now been initiated against

the residential house of the petitioner. It is submitted that the

2nd respondent is a friend of the petitioner's husband and she

was forced to guarantee the repayment of loan on the promise

that there will be no default committed by the 2nd respondent. WP(C) NO. 17493 OF 2022

4. 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 entire amount due in 12

instalments.

5. Accordingly, there will be a direction to the 1 st

respondent bank to accept repayment of the amount of

Rs.56,92,490/- along with bank charges and any additional

interest payable from the petitioner.

(i) The amount of Rs.56,92,490/- shall be repaid in 12 equated monthly instalments, together with bank charges and additional interest (if any);

(ii) The first instalment shall be paid on or before 15.06.2022.

(iii) In the event of default of any one instalment, the 1st respondent Bank shall be entitled to proceed in accordance with law.

On compliance of the above directions, further

proceedings initiated against the petitioner shall be kept in

abeyance.

WP(C) NO. 17493 OF 2022

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE

DK WP(C) NO. 17493 OF 2022

APPENDIX OF WP(C) 17493/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE NO.287/20-21 DATED 12.11.2020 SERVED ON THE PETITIONER BY THE 1ST RESPONDENT.

Exhibit P2 TRUE COPY OF THE NOTICE DATED 21.5.2022 SERVED ON THE PETITIONER BY THE ADVOCATE COMMISSIONER.