Mathukkutty Pandakasala vs The Nilambur Co-Operative Urban ...
2023 Latest Caselaw 9128 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. 26469 OF 2023

PETITIONERS:

    1     MATHUKKUTTY PANDAKASALA, AGED 54 YEARS
          PANDAKASALA HOUSE, CHALIKKAPOTTY, MOOTHEDAM P.O.,
          MALAPPURAM DISTRICT., PIN - 679331

    2     MINI PANDAKASALA, AGED 49 YEARS
          W/O MATHUKKUTTY, PANDAKASALA HOUSE,
          CHALIKKAPOTTY, MOOTHEDAM P.O., MALAPPURAM
          DISTRICT., PIN - 679331

          BY ADV K.VIDYASAGAR


RESPONDENTS:

          THE NILAMBUR CO-OPERATIVE URBAN BANK LTD.
          F.1043, NILAMBUR P.O., MALAPPURAM DISTRICT
          REPRESENTED BY ASSISTANT GENERAL
          MANAGER/AUTHORISED OFFICER., PIN - 679329

          BY ADVS.T.RAMESH BABU
          C.K.SREEJITH(K/2048/1999)


      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. 26469 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 petitioners' case is that, they had availed

financial assistance from the respondent - Bank - by

creating an equitable mortgage by deposit of title

deeds. Due to the unprecedented flood that had

occurred in the State and the Covid-19 pandemic, the

petitioners could not pay the instalments on time. The

respondent has classified the loan account as a non

performing asset and is proceeding against the secured

asset under the Securitization and Reconstruction of

Financial Assets and Enforcement of Security Interest

Act, 2002. The Advocate Commissioner is threatening

to take physical possession of the secured asset. The WP(C) NO. 26469 OF 2023

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petitioners are prepared to pay the outstanding amount

in instalments and close the loan account. Hence, the

writ petition.

3. Heard; Sri.K.Vidyasagar, the learned counsel

appearing for the petitioners and Sri.T.Ramesh Babu,

the learned counsel appearing for the respondent.

4. Sri.T.Ramesh Babu, on instructions, submitted

that the petitioners had availed a business loan in the

year 2013. The loan account was classified as non

performing asset as early as in 22.6.2014. The

petitioners had approached this Court and filed W.P.

(C)No.19773/17, which was allowed permitting the

petitioners to pay the outstanding amount in 12

equated monthly instalments. The petitioners have not

complied wih the said direction. The respondent is not

willing to extend any instalment facility to the

petitioners. The outstanding amount as on 23.8.2023 is

Rs.5,50,824/-. Due to the antecedents of the WP(C) NO. 26469 OF 2023

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petitioners, the respondent does not have confidence in

the petitioners. Hence, the writ petition may be

dismissed.

5. 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.

6. Having considered the pleadings and

materials on record and taking note of the submissions

made by the respective counsel appearing for the

parties, I do not find any extraordinary circumstance to

entertain the writ petition under Article 226 of the

Constitution of India. Nonetheless, it would be up to WP(C) NO. 26469 OF 2023

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the petitioners to work out their statutory remedies in

accordance with law.

Resultantly, the writ petition is dismissed, without

prejudice to the right of the petitioners to work out

their remedies, in accordance with law.

sd/-

C.S.DIAS JUDGE jes WP(C) NO. 26469 OF 2023

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APPENDIX OF WP(C) 26469/2023

PETITIONER EXHIBITS

Exhibit-P1 TRUE COPY OF THE POSSESSION NOTICE UNDER SECTION 13(4) OF SARFAESI ACT DATED 27.10.2016 ISSUED BY THE RESPONDENT TO THE PETITIONERS.

Exhibit-P2 TRUE COPY OF THE PETITION CMP.NO.576/2017 FILED BY THE RESPONDENT BEFORE THE C.J.M COURT, MANJERI.

Exhibit-P3 TRUE COPY OF THE NOTICE OF INSPECTION DATED 22.5.2023 ISSUED BY THE ADVOCATE COMMISSIONER.