Abdul Anas B.K vs The Authorized Officer
2022 Latest Caselaw 10995 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
      THURSDAY, THE 3RD DAY OF NOVEMBER 2022 / 12TH KARTHIKA, 1944
                             WP(C) NO. 35155 OF 2022
PETITIONER:

              ABDUL ANAS B.K
              AGED 37 YEARS
              S/O B. K. MUHAMMED,
              B. K. HOUSE, BATHERI,
              SHIRIYA P.O. , KASARAGOD - 671321, PIN - 671321
              BY ADVS.
              K.REEHA KHADER
              RAVEENA K.R.

RESPONDENT:

              THE AUTHORIZED OFFICER
              KERALA STATE CO-OPERATIVE BANK,
              UPPALA BRANCH, KASARAGOD - 671 121, PIN - 671121

              ADV. M SASINDRAN, STANDING COUSNEL

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
03.11.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.35155 of 2022
                                              2




                                JUDGMENT

Dated this the 03rd day of November, 2022

The petitioner has approached this Court

challenging proceedings initiated by the respondent

Bank under the provisions of the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 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 installments 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 overdue amount is Rs.14,76,339/-

(Rupees Fourteen lakh seventy six thousand three

hundred thirty nine only). It was further submitted

that though proceedings for recovery have been WPC No.35155 of 2022

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 Adv.K.Reeha Khader, learned

counsel for the petitioner as well as Adv. M.Sasindran,

the learned counsel for the respondent.

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 eighteen

(18) installments 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.14,76,339/- (Rupees Fourteen

lakh seventy six thousand three hundred thirty nine WPC No.35155 of 2022

only) along with bank charges from the petitioner and

regularise the loan account of the petitioner in the

following manner:-

(i) The overdue amount of Rs.14,76,339/-

(Rupees Fourteen lakh seventy six

thousand three hundred thirty nine only)

along with any accrued interest and

charges shall be repaid in eighteen (18)

equated monthly installments;

(ii) The first installment shall be paid on or

before 30.11.2022 and the subsequent

installments shall be paid on or before the

last working day of each succeeding

month;

(iii) The petitioner shall continue to pay the

regular EMIs/installments along with the

installments directed above;

(iv) In the event of default of any one

installment, the respondent bank shall be WPC No.35155 of 2022

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/-

GOPINATH P.

JUDGE SKP/3-11 WPC No.35155 of 2022

APPENDIX OF WP(C) 35155/2022

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE AUTHORISED OFFICER DATED 28-02-2020 RESPONDENT'S EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE