Kerala High Court
Abdul Majeed A vs The Branch Manager on 13 April, 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 13TH DAY OF APRIL 2023 / 23RD CHAITHRA, 1945
WP(C) NO. 11423 OF 2023
PETITIONER:
ABDUL MAJEED A
AGED 56 YEARS, S/O MOIDEEN KUTTY,
ARYANTHODIKA HOUSE, ARYANTHODIKA, PANNIPARA P.O,
EDAVANNA, MALAPPURAM DT., PIN - 676 541.
BY ADVS.
T.K.AJITH KUMAR
AISWARYA RAMESAN
HARITHA HARIDAS
RAJESH BABU CHELAT
RESPONDENT:
THE BRANCH MANAGER
KERALA STATE CO-OPERATIVE BANK,
MANJERI MAIN BRANCH, P.O MANJERI,
MALAPPURAM DT., PIN - 676 121
BY ADVS
P.C.SASIDHARAN
GILBERT GEORGE CORREYA (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P (C) No.11423/2023 -2-
JUDGMENT
Petitioner availed a mortgage loan from the respondent Bank.
On default being committed proceedings have been initiated under
the Kerala Co-operative Societies Act, 1969, as well as under the
Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act (SARFAESI Act) for recovery
of amounts due in respect of the aforesaid loan.
2. During the course of hearing, the petitioner has confined
the relief to an opportunity of repaying the amounts due in
instalments.
3. It was submitted on behalf of the respondent bank that
the petitioner committed default in repayment of the above loan. It
is submitted that the total liability is Rs.16,23,377/-. It is 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 aforesaid amount in limited instalments.
4. I have heard the learned counsel for the petitioner as
well as the learned Standing 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 outstanding amount in fifteen (15) equal
monthly instalments.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire outstanding amount of
Rs.16,23,377/- along with bank charges from the petitioner on the
following conditions:
(i) The outstanding amount of Rs.16,23,377/- together with any
accrued interest/costs shall be repaid in fifteen (15) equated
monthly instalments.
(ii) The first instalment shall be paid on or before 12-05-2023
and subsequent instalments shall be paid on or before 12th day of
every succeeding month.
(iii) In the event of default of any one instalment, the
respondent bank shall be entitled to proceed in accordance with
law.
(iv) 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
ats
APPENDIX OF WP(C) 11423/2023
PETITIONER'S EXHIBITS
Exhibit-P1 TRUE COPY OF THE DEMAND NOTICE DATED
14.02.2023 ISSUED BY THE RESPONDENT.
Exhibit-P2 TRUE COPY OF THE REPRESENTATION DATED
25.03.2023 SUBMITTED BEFORE THE
RESPONDENT.
