S. Santhakumari (Member ... vs The Authorized Officer
2023 Latest Caselaw 8747 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. 24391 OF 2023
PETITIONER:

              S. SANTHAKUMARI (MEMBER NO.68628),
              AGED 56 YEARS
              D/O SUMATHI,
              VARUVILAKATHU VEEDU, IYTHIYOOR,
              BALARAMAPURAM P.O.,
              THIRUVANANTHAPURAM, PIN - 695501
              BY ADV M.R.SASITH

RESPONDENT:

              THE AUTHORIZED OFFICER,
              CO-OPERATIVE URBAN BANK LTD NO.931,
              NEYYATTINKARA, HEAD OFFICE,
              NEYYATTINKARA, NEAR FIRE STATION,
              NEYYATTINKARA P.O.,
              THIRUVANANTHAPURAM, PIN - 695121
              SRI R T PRADEEP

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
09.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.24391 of 2023
                                    2




                             C. S. DIAS, J.
                -------------------------
                       W.P.(C.) No.24391 of 2023
                -------------------------
          Dated this the 09th day of August, 2023

                             JUDGMENT

The writ petition is filed to direct the

respondent to permit the petitioner to pay the

overdue in instalments and regularise the loan

account.

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 repay the instalments on

time. The respondent has proceeded against the

secured asset under the Securitization and

Reconstruction of Financial Assets and

Enforcement of Security Interest Act (in short, WPC No.24391 of 2023

'Act'). The petitioner is willing to pay the overdue

amount in instalments and regularise the loan

account. Hence, the writ petition.

3. Heard; Sri.M.R.Sasith, the learned Counsel

appearing for the petitioner and Sri.R.T.Pradeep,

the learned Counsel appearing for the

respondent.

4. Sri.R.T.Pradeep, on instructions, submitted

that the overdue amount as on 13.08.2023 is

Rs.2,62,000/-. The tenure of the loan is till 2034.

The respondent is willing to permit the petitioner

to pay the overdue amount in three equated

monthly instalments. The said submission is

recorded.

5. The learned Counsel appearing for the

petitioner prayed since the tenure of the loan is

till 2024 and the petitioner being a lady, she may

be granted atleast fifteen equated monthly

instalments to pay the overdue amount. WPC No.24391 of 2023

6. Having considered the pleadings and

materials on record, the submissions made by the

learned counsel appearing for the parties, the

consensus arrived at between the parties and to

provide the petitioner one last opportunity to

clear off the liability, I am inclined to exercise

the powers of this Court under Article 226 of the

Constitution of India and entertain the writ

petition.

Resultantly, I dispose of the writ petition in

the following manner:

(i) The respondent is directed to defer

further coercive proceedings pursuant to Exts.P1

and P2 to enable the petitioner to pay the

overdue amount in equated monthly instalments

as stated below.

(ii) The petitioner is permitted to pay the

overdue amount as stated above with future

interest and cost to the respondent - Bank - in WPC No.24391 of 2023

ten equated monthly instalments commencing

from 09.09.2023 along with regular EMIs.

(iii) Needless to mention, if the petitioner

commits default in the condition ordered above,

the petitioner would lose the benefit of this

judgment and the respondent would be at liberty

to proceed with recovery proceedings from the

stage it presently stands.

(iv) It is made clear that, no further

application for modification/extension of time

shall be entertained.

Sd/-

C. S. DIAS JUDGE SKP/-08 WPC No.24391 of 2023

APPENDIX OF WP(C) 24391/2023

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE ADVOCATE COMMISSION NOTICE DATED 15.07.2023 EXHIBIT P2 CERTIFIED COPY OF MC 320/2023 HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE