Shanifa S vs The Authorized Officer
2022 Latest Caselaw 10194 Ker

W.P(C).29245/22                       1



                  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. 29245 OF 2022
PETITIONER/S:

      1       SHANIFA S
              AGED 36 YEARS
              W/O SUDHEER, AJMAL MANZIL,
              ELAVARAMKUZHI, VILAKKUPARA P.O,
              ANCHAL, KOLLAM-, PIN - 691312
      2       SATHEESH.T
              AGED 48 YEARS
              S/O THAMPI , ATHIRA BHAVAN,
              KETTUPLACHI, VILAKKUPARA P.O,
              ANCHAL, KOLLAM, PIN - 691312
              BY ADV M.R.SASITH


RESPONDENT/S:

             THE AUTHORIZED OFFICER
             INDUSIND BANK LTD, CFD,
             1ST FLOOR, JAIN TOWER-2,
             VARAPUZHA ROAD, NEAR RAILWAY BRIDGE,
             EDAPPALLY, COCHIN, PIN - 682024
             BY ADV P.C.SASIDHARAN


OTHER PRESENT:

              0
              ADV. VARGHESE C KURIAKOSE (SC)


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.09.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P(C).29245/22                            2




                                   JUDGMENT

Petitioners have 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,

(hereinafter referred as the SARFAESI Act) for recovery of the amounts due

from the petitioners in respect of a vehicle loan taken by the 1st petitioner for

purchase of the vehicle bearing registration No.KL-02-AF-2599. The 2nd

petitioner is the guarantor to the said loan. Owing to default committed by the

petitioners, proceedings were initiated under the provisions of the SARFAESI

Act and possession of the vehicle has been taken by the authorised officer of the

respondent bank on 24.8.2022.

2. Learned counsel appearing for the respondent bank submits that the

overdue amount in respect of the vehicle loan is Rs.3,39,738/- as on date. It is

submitted that the vehicle is the primary security as far as the loan is concerned

and while the bank may not have any objection in permitting the petitioners to

clear the overdue amounts in instalments, this must be on strict conditions, to

ensure that the vehicle in question shall not be alienated or dismantled and

shall be kept in good condition by the petitioners.

3. Learned counsel appearing for the petitioners submitted that the

possession of the vehicle, which is the subject matter of the writ petition, has

been taken by the respondent bank. It is submitted that the petitioners may be

given a reasonable opportunity to clear the overdue amounts in instalments.

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 overdue

amounts in ten instalments and thereafter, if the amount so directed is repaid

within the time as directed above, to have the loan account regularised.

5. Accordingly, there will be a direction to the respondent bank to accept

repayment of the entire overdue amount of Rs.3,39,738/- along with bank

charges from the petitioners and regularise the loan account in the following

manner:-

(i) The overdue amount of Rs.3,39,738/- along with any accrued interest and

charges shall be repaid in ten equated monthly instalments;

(ii)The first instalment shall be paid on or before 30.09.2022 and the

subsequent instalments shall be paid on or before the last day of each

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) On the petitioners remitting 50% of the overdue amount in respect of the

vehicle along with regular EMIs, the possession of the vehicle in question shall

be released to the petitioners;

(vi) The petitioners shall not alienate, encumber or dismantle the vehicle , the

possession of which is returned to the petitioners, in terms of the directions

issued above and they shall keep the vehicle in good condition and shall also

hand over possession of the vehicle to the authorised officer of the respondent

bank in the event of any default being committed;

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE okb/ //True copy// P.S. to Judge

APPENDIX OF WP(C) 29245/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE PRE SALE NOTICE ISSUED BY RESPONDENT BANK DATED 24/08/2022 Exhibit P2 TRUE COPY OF THE JUDGEMENT IN WP (C) 28199/2022 PASSED BY THIS COURT