Kala Nasarudheen vs Punjab National Bank
2023 Latest Caselaw 8729 Ker

          IN THE HIGH COURT OF KERALA AT ERNAKULAM

                            PRESENT

               THE HONOURABLE MR.JUSTICE C.S.DIAS

  WEDNESDAY, THE 9TH DAY OF AUGUST 2023 / 18TH SRAVANA, 1945

                     WP(C) NO. 22940 OF 2023

PETITIONER:

          KALA NASARUDHEEN, AGED 52 YEARS,
          W/O NASARDHEEN, KAVUNGAL HOUSE, PERINGOTTUKAVU,
          KIZHAKKEMURI, PALAKKAD, PIN - 678506

          BY ADVS.S.MUMTAZ
          ALISHA ASLAM
          AMINA RUBY FAIZAL


RESPONDENTS:

          PUNJAB NATIONAL BANK, REP BY THE AUTHORIZED
          OFFICER, CIRCLE SASTHRA CENTRE, PNB HOUSE, MARKET
          ROAD, ERNAKULAM, PIN - 682011


          SRI SANTHEEP ANKARATH


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 22940 OF 2023
                            :: 2 ::



                          JUDGMENT

Dated this the 9th day of August 2023

The writ petition is filed to direct the respondent to

permit the petitioner to pay the overdue amount in

instalments and regularise the loan accounts.

2. The petitioner's case is that, she had availed

financial assistance from the respondent - Bank - by

creating an equitable mortgage by deposit of title

deeds. Due to reasons beyond her control, she could not

pay the instalments on time. The respondent - Bank has

now proceeded against the secured assets under the

Securitization and Reconstruction of Financial Assets

and Enforcement of Security Interest Act (in short,

'Act') and is threatening to take physical possession of

the same. The petitioner is willing to pay the overdue

amount in equated monthly instalments and regularise

the loan account. Hence, the writ petition. WP(C) NO. 22940 OF 2023 :: 3 ::

3. Heard; Sri.Mumtaz Shumsuddin, the learned

counsel appearing for the petitioner and Sri.Santheep

Ankarath, the learned counsel appearing for the

respondent.

4. Sri.Santheep Ankarath, on instructions,

submitted that the petitioner had availed a housing loan

and an overdraft facility. Both the accounts have been

classified as NPA as early as in 2022. The outstanding

amounts in the two accounts are Rs.18,11,162/- and

9,77,316/-. The respondent is not willing to extend any

instalment facility to the petitioner. Nonetheless, it is

upto the petitioner to approach the bank with a

concrete proposal and avail the one time settlement

facility subject to the condition that the petitioner

deposits 20% of the outstanding amount along with

proposal. If such proposal is submitted along with the

said deposit, the respondent is willing to consider the

same. Hence, the writ petition may be dismissed. WP(C) NO. 22940 OF 2023 :: 4 ::

5. The learned counsel appearing for the

petitioner submitted that, the petitioners may not be in

a position to pay 20% of the outstanding amount.

6. The Hon'ble Supreme Court in South Indian

Bank Ltd vs. Naveen Mathew Philip [2023 LiveLaw (SC)

320], after adverting to a myriad of earlier judicial

pronouncements rendered under the Act, has

categorically declared that High Courts shall not,

unless in extra ordinary circumstances, interfere with

proceedings initiated under the Act, in writ proceedings

under Article 226 of the Constitution of India.

7. Having considered the pleadings and materials

on record and taking note of the submission made by

learned counsel appearing for the parties, I find no

extra ordinary circumstances to entertain the writ

petition by exercising the discretionary powers of this

Court. Nonetheless, it will be up to the petitioner to

work out her statutory remedies in accordance with

law.

WP(C) NO. 22940 OF 2023 :: 5 ::

Resultantly, the writ petition is dismissed, without

prejudice to the right of the petitioner to work out her

statutory remedies and to avail the one time settlement

facility, as offered by the respondent.

Sd/-

C.S.DIAS JUDGE jes WP(C) NO. 22940 OF 2023 :: 6 ::

APPENDIX OF WP(C) 22940/2023

PETITIONER EXHIBITS

Exhibit P 1 TRUE COPY OF THE PAPER PUBLICATION OF SALE NOTICE DATED 23/6/2023 IN MANGALAM NEWS PAPER DAILY