Jose Peter vs Bank Of Baroda
2023 Latest Caselaw 8863 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR.JUSTICE C.S.DIAS
    MONDAY, THE 14TH DAY OF AUGUST 2023 / 23RD SRAVANA, 1945
                       WP(C) NO. 26558 OF 2023
PETITIONER:

          JOSE PETER
          AGED 57 YEARS
          S/O PATHROSE, AGED 57 YEARS, KORAKKAN HOUSE, OKKAL
          P.O., PERUMBAVOOR, ERNAKULAM -,
          PIN - 683550

          BY ADV R.DIVAKARAN


RESPONDENTS:

    1     BANK OF BARODA
          PERUMBAVOOR BRANCH, REPRESENTED BY ITS MANAGER,
          PERUMBAVOOR, PIN - 683550

    2     THE AUTHORIZED OFFICER
          (SECURITIZATION ACT), BANK OF BARODA, ROSARB BRANCH,
          1ST FLOOR, CSR BUILDING, PALLIMUKKU, ERNAKULAM -, PIN
          - 682016


OTHER PRESENT:

          SRI NAGRAJ NARAYAN

      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.26558/2023

                                    -:2:-




                   Dated this the 14th day of August, 2023

                           JUDGMENT

The writ petition is filed to direct the respondents

to permit the petitioner to pay off the outstanding

amount in equated monthly instalments and close the

loan account.

2. The petitioner's case is that, he and his wife

had availed a housing loan from the first respondent -

Bank in the year 2010 by creating an equitable

mortgage by deposit of title deeds. Due to the

unprecedented flood that happened in the State, the

Covid-19 pandemic and also the fact that the petitioner

is suffering from cancer, he could not pay the EMIs on

time. The respondents have initiated proceedings

against the secured asset under the Securitization and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act,2002 (in short, 'Act') and are

threatening to take physical possession of the secured W.P.(C)No.26558/2023

asset. The petitioner is willing to pay the outstanding

amount in instalments and close the loan account.

Hence, the writ petition.

3. Heard; Sri. R.Divakaran, the learned counsel

appearing for the petitioner and Sri.Nagraj Narayan,

the learned counsel appearing for the respondents.

4. Sri.Nagraj Narayan, on instructions,

submitted that the outstanding amount as on today is

Rs.10,75,000/-. The respondents are willing to permit

the petitioner to pay off the outstanding amount in 10

equated monthly instalments. The said submission is

recorded.

5. The learned counsel appearing for the

petitioner submitted that the petitioner is ready to

accept the above offer.

6. Having considered the pleadings and

materials on record, and in the light of the submission

made by the learned counsel appearing for parties, to W.P.(C)No.26558/2023

provide the petitioner one last opportunity, I am

inclined to exercise the powers of this Court under

Article 226 of the Constitution of India and dispose of

the writ petition.

Resultantly, I dispose of the writ petition in the

following manner:

(i) The respondents are directed to defer further proceedings pursuant to ExtP3 notice, to enable the petitioner to pay off the outstanding amount in instalments.

(ii) The petitioner is permitted to pay the outstanding amount as stated above with future interest and cost to the first respondent - Bank in 12 equated monthly instalments commencing from 14.09.2023.

(iii) Needless to mention, if the petitioner commits default in respect of any of the conditions ordered above, he will lose the benefit of this judgment and the respondents would be at liberty to proceed with recovery proceedings W.P.(C)No.26558/2023

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

DST/14.08.23                                         //True copy//

                                                     P.A.To Judge
 W.P.(C)No.26558/2023






                              APPENDIX




PETITIONER EXHIBITS
EXHIBIT P1          THE TRUE COPY OF THE MEDICAL CERTIFICATE

ISSUED BY THE LISSIE HOSPITAL, ERNAKULAM DATED 18.05.2023

EXHIBIT P2 THE TRUE COPY OF THE PLAINT IN OS NO.

289/2020 OF MUNSIFF COURT, PERUMBAVOOR

EXHIBIT P3 THE TRUE COPY OF THE NOTICE IN MC NO.

137/2020

EXHIBIT P4 THE TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE BANK ON 09.08.2023

RESPONDENT'S EXHIBITS: NIL