Justin Paulose vs The Alwaye Urban Co-Operative ...
2023 Latest Caselaw 4682 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
         THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE
                                 &
        THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
  WEDNESDAY, THE 12TH DAY OF APRIL 2023 / 22ND CHAITHRA,
                               1945
                      WA NO. 661 OF 2023
AGAINST THE JUDGMENT DATED 5.01.2023 IN WP(C) 42646/2022
                    OF HIGH COURT OF KERALA
APPELLANTS/PETITIONERS:

    1       JUSTIN PAULOSE, AGED 39 YEARS, S/O POULOSE P.O,
            PAYYAPPILY HOUSE, SEBIYOOR, MALAYATTOOR P.O,,
            PIN - 683 587.

    2       MARY POULOSE, AGED 67 YEARS, W/O POULOSE P.O,
            PAYYAPPILY HOUSE, SEBIYOOR, MALAYATTOOR P.O,
            PIN - 683 587.

           BY ADVS.
           C.S.MANU
           DILU JOSEPH
           C.A.ANUPAMAN
           T.B.SIVAPRASAD
           C.Y.VIJAY KUMAR
           MANJU E.R.
           ANANDHU SATHEESH
           ALINT JOSEPH



RESPONDENTS/RESPONDENTS:

    1       THE ALWAYE URBAN CO-OPERATIVE BANK LTD, NO.1623,
            HEAD OFFICE AT MARKET ROAD, ALUVA, ERNAKULAM
            DISTRICT, PIN - 683101. REPRESENTED BY ITS
            CHAIRMAN

    2       THE AUTHORISED OFFICER, THE ALWAYE URBAN CO-
            OPERATIVE BANK LTD. NO. 1623, HEAD OFFICE,
            MARKET ROAD, ALUVA, ERNAKULAM DISTRICT, PIN -
            683 101
 WA NO. 661 OF 2023

                             ..2..


         BY ADV R.LEELA


     THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON
12.04.2023,   THE   COURT   ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 WA NO. 661 OF 2023

                                   ..3..




                     J U D G M E N T

A. Muhamed Mustaque, J

This appeal has been preferred by the

borrower. While admitting the matter, the

learned Single Judge directed the appellants, who

are the writ petitioners, to pay a sum of Rs.1

Lakh on or before 3.01.2023. They could not

remit the amount. Consequent upon this, the

learned Single Judge dismissed the writ petition

challenging the SARFAESI proceedings.

2. The learned counsel for the appellants

submits that the appellants are in a precarious

situation and they are attempting to find out a

buyer to liquidate the entire liability and they

may be given sufficient time.

3. The learned counsel for the Bank opposed

and submits that the liability is more than Rs.43

Lakhs and they have other dues with the Bank. It

is submitted that RBI is now monitoring the WA NO. 661 OF 2023

..4..

activities of the Bank and the non performing

account of the respondents will have to be closed

at the earliest.

4. Having considered the facts and

circumstances, we are of the view that the

appellants can be given three months time to

liquidate the entire liability either in lump-sum

or in instalments. No coercive steps shall be

taken till then from today.

5. We make it clear that if the appellants

fail to clear the entire liability within the

time as above, the respondent-Bank is free to

proceed with in accordance with law, from the

stage it was stopped.

This writ appeal is disposed of as above.

Sd/-

A.MUHAMED MUSTAQUE, JUDGE

Sd/-

SHOBA ANNAMMA EAPEN, JUDGE PR