Kerala High Court
Kalaivani vs The General Manager,People’S ... on 15 September, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 15TH DAY OF SEPTEMBER 2022 / 24TH BHADRA, 1944
WP(C) NO. 27885 OF 2022
PETITIONERS:
1 KALAIVANI,
AGED 53 YEARS,
W/O (LATE) SOMASHEKHARAN.K,
THIRUVATHIRA, PANAYIDA LANE, ELAMAKKARA,
KOCHI - 682 026.
2 KAMESH.S,
AGED 32 YEARS,
S/O (LATE) SOMASHEKHARAN,
THIRUVATHIRA, PANAYIDA LANE, ELAMAKKARA,
KOCHI - 682 026.
BY ADVS.
PRATHAP. S.R.K.
ANN OLIVIA VALLAVANADAN
A.S.SANGEETHA
RESPONDENTS:
1 THE GENERAL MANAGER,
PEOPLE'S URBAN CO-OPERATIVE BANK LTD.NO: 51, HEAD
OFFICE, MAIN ROAD, THRIPUNITHURA,
ERNAKULAM DISTRICT - 682 301.
2 THE AUTHORISED OFFICER CUM GENERAL MANAGER
PEOPLE'S URBAN CO-OPERATIVE BANK, LTD.NO: 51, HEAD
OFFICE, MAIN ROAD, THRIPUNITHURA,
ERNAKULAM DISTRICT - 682 301.
3 THE BRANCH MANAGER,
PEOPLE'S URBAN CO-OPERATIVE BANK, LTD.NO: 51,
BRANCH ELAMAKKARA, ELAMAKKARA,
ERNAKULAM DISTRICT - 682 026.
BY ADV DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.09.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 27885 OF 2022
2
JUDGMENT
Petitioners have approached this Court challenging
proceedings under the SARFAESI Act which have been initiated by
the bank for recovery of the amounts due from the petitioners.
2. During the course of hearing, petitioners have 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 the
petitioners committed default in repayment and the overdue
amount as on today is Rs.5,36,964/-(Rupees five lakhs thirty six
thousand nine hundred and sixty four 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 overdue amount in limited instalments
and regularise the loan account.
4. I have heard the learned counsel for the petitioners as well
as the learned 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 petitioners can be
granted an opportunity to repay the overdue amount in 12
WP(C) NO. 27885 OF 2022
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.5,36,964/-(Rupees five lakhs thirty six thousand nine hundred
and sixty four only) along with any accrued interest, costs and
charges from the petitioners and regularise the loan account of the
petitioners on the following conditions:
i. The overdue amount of Rs.5,36,964/-(Rupees five lakhs thirty
six thousand nine hundred and sixty four only) along with any
accrued interest, costs and charges shall be repaid in 12
equated monthly instalments.
ii. The first instalment shall be paid on or before 10.10.2022 and
the subsequent instalments shall be paid on or before the 10 th day
of every succeeding month.
iii. Petitioners 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 petitioners 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
DK
WP(C) NO. 27885 OF 2022
APPENDIX OF WP(C) 27885/2022
PETITIONER EXHIBITS
ExhibitP1 TRUE COPY OF THE DEATH DECLARATION
DOCUMENT NO: KL/EKM/2021/ M000580 DATED
23/07/2021 ISSUED BY THE DISTRICT MEDICAL
OFFICER OF HEALTH, ERNAKULAM
Exhibit P2 TRUE COPY OF THE NOTICE BEARING NO:
ML16/20/EL DATED 01/08/2022 ISSUED BY THE
2ND RESPONDENT
