B.Abdulla Aboobacker vs Authorized Officer
2023 Latest Caselaw 9122 Ker

          IN THE HIGH COURT OF KERALA AT ERNAKULAM

                            PRESENT

              THE HONOURABLE MR.JUSTICE C.S.DIAS

   WEDNESDAY, THE 23RD DAY OF AUGUST 2023 / 1ST BHADRA, 1945

                     WP(C) NO. 26517 OF 2023

PETITIONER:


          B.ABDULLA ABOOBACKER, AGED 78 YEARS
          S/O.ABOOBACKER (LATE), CHEROOR,
          PERUMBALA ROAD, KASARGOD, PIN - 671541

          BY ADVS.S.SUNIL KUMAR (PALAKKAD)
          LEKSHMI S.SEKHER
          K.J.SUNIL


RESPONDENT:

          AUTHORIZED OFFICER
          CANARA BANK, SSME-I BRANCH, REGIONAL OFFICE,
          KASARGOD, PIN - 671121

          BY ADV M.GOPIKRISHNAN NAMBIAR


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 26517 OF 2023

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                           JUDGMENT

Dated this the 23rd day of August 2023

The writ petition is filed to direct the respondent to

permit the petitioner to pay the outstanding amount in

instalments and close the loan account.

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

financial assistance from the respondent - Bank by

creating an equitable mortgage by deposit of title

deeds. Due to Covid-19 pandemic and the land

acquisition proceedings that took place, the petitioner

could not pay the instalments on time. The respondent

has 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 secured asset. The petitioners are willing to pay WP(C) NO. 26517 OF 2023

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the outstanding amount in instalments and close the

loan account. Hence, the writ petition.

3. Heard; Sri.S.Sunil Kumar, the learned counsel

appearing for the petitioner and Sri.Gopikrishnan

Nambiar, the learned counsel appearing for the

respondent.

4. Sri.Gopikrishnan Nambiar, on instructions,

submitted that the petitioner had availed two loans.

The total outstanding amount of the two loan accounts

is Rs.82,43,528/-. The respondent is willing to permit

the petitioner to pay the outstanding amount in six

equated monthly instalments. The said submission is

recorded.

5. The learned counsel appearing for the petitioner

prayed that the petitioner may be granted atleast 25

instalments to pay the outstanding amount. WP(C) NO. 26517 OF 2023

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6. Having considered the pleadings and materials

on record and the submission made by the learned

counsel appearing for the parties, to provide the

petitioner one last opportunity to pay off the

outstanding amount, 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 respondent is directed to defer further coercive proceedings pursuant to Exts.P1 and P2 to enable the petitioner to pay 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 respondent - Bank - in 12 equated monthly instalments commencing from 23.09.2023 along with regular EMIs.

(iii) Needless to mention, if the petitioner commits default of the condition ordered above, he WP(C) NO. 26517 OF 2023

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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 jes WP(C) NO. 26517 OF 2023

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APPENDIX OF WP(C) 26517/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE ORDER IN CMP NO-983 OF 2022 OF HONBLE CHIEF JUDICIAL MAGISTRATE COURT, KASARGOD DATED 08.11.2022

Exhibit P2 TRUE COPY OF THE SALE NOTICE DATED 19.05.2023 ISSUED BY THE RESPONDENT BANK