Anuja S Mohan vs The Authorized Officer
2023 Latest Caselaw 1024 Ker

                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                   THE HONOURABLE MR. JUSTICE GOPINATH P.
         TUESDAY, THE 17TH DAY OF JANUARY 2023 / 27TH POUSHA, 1944
                           WP(C) NO. 41403 OF 2022
PETITIONERS:

     1      ANUJA S MOHAN
            AGED 28 YEARS
            W/O. SREEJITH MENON, RESIDING AT CHAITHRAM, MALAYALAPUZHA,
            THAZHAM P.O., KONNI, PATHANAMTHITTA DISTRICT., PIN - 689666
     2      SREEJITH MENON
            AGED 35 YEARS
            S/O.NARAYANA MENON, RESIDING AT CHAITHRAM, MALAYALAPUZHA
            THAZHAM P.O., KONNI, PATHANAMTHITTA DISTRICT, PIN - 689666
            BY ADVS.
            T.MADHU
            C.R.SARADAMANI
            ROY THOMAS (PATHANAMTHITTA)
            SHAHID AZEEZ
            RENJISH S. MENON

RESPONDENTS:

     1      THE AUTHORIZED OFFICER
            KERALA STATE CO-OPERATIVE BANK, REGIONAL OFFICE, P.B.NO.104,
            OPP. MUNICIPAL TOWN HALL, ALAPPUZHA, PIN - 688001
     2      THE KERALA BANK
            PUTHUKULAM BRANCH, MALAYALAPUZHA ERAM P.O., PATHANAMTHITTA
            DISTRICT, REPRESENTED BY ITS MANAGER, PIN - 689664
            BY ADV N.RAGHURAJ

     THIS   WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
17.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.41403 of 2022
                                     2




                             JUDGMENT

Dated this the 17th day of January, 2023

Petitioners have approached this Court

challenging proceedings initiated under the

Securitisation and Reconstruction of Financial Assets

and Enforcement of Security Interest Act (hereinafter

referred to as the SARFAESI Act) for recovery of the

amounts due upon consumption loan availed by the

petitioners.

2. During the course of hearing, petitioners have

confined the relief to an opportunity for repaying the

overdue amount in instalments and to obtain

regularisation of the loan account.

3. Learned counsel appearing for the respondent

bank submitted that the petitioners have availed yet

another loan which is not subject matter of Ext.P2

notice and that account has also become NPA. It is

submitted that in respect of the loan which is subject WPC No.41403 of 2022

matter of Ex.P2 notice, the overdue amount as on

today is Rs.16,99,687/-. It is submitted that the

disposal of this writ petition by permitting the

petitioner to clear the overdue amount in the loan

which is subject matter of Ext.P2 notice should not be

treated as a bar in initiating proceedings in respect of

the other loan. It is submitted that the bank has no

objection in granting some instalments to the

petitioner to clear the overdue amount.

4. I have heard the learned counsel for the

petitioners as well as the learned Standing Counsel

for the respondent Bank.

5. Having regard to the facts and circumstances

of the case and the situation now prevailing, apart

from the submissions made as recorded above and

also taking into account the fact that the petitioners

have undertaken to clear off the overdue amount

along with regular EMIs, I am of the view that the

petitioners can be granted an opportunity to clear off WPC No.41403 of 2022

the overdue amount in fifteen (15) equal monthly

instalments first of which shall be paid on or before

31.01.2023 and thereafter, if the amount so directed

is repaid within the time as directed above, to have

the loan account regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

overdue amount of Rs.16,99,687/- along with bank

charges from the petitioners and regularise the loan

account of the petitioners on the following conditions:

i. The overdue amount of Rs.16,99,687/-

together with any accrued interest and

charges shall be repaid in fifteen equated

monthly instalments;

ii. The first instalment shall be paid on or before

31.01.2023 and the subsequent instalments

shall be paid on the last working day of every

succeeding month;

iii. Petitioners shall continue to pay the regular WPC No.41403 of 2022

EMI's along with the instalments directed

above;

iv. In the event of default of any one instalment,

the respondent bank shall be entitled to

proceed in accordance with law;

v. In order to enable the petitioners to repay the

entire amounts, all coercive proceedings shall

be kept in abeyance.

It is made clear that, this order is only in respect

of the loan which is subject matter of Ext.P2 notice.

This judgment will not prevent the bank from

initiating proceedings in respect of any other loans

availed by the petitioners in accordance with law.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE SKP/17-01 WPC No.41403 of 2022

APPENDIX OF WP(C) 41403/2022

PETITIONERS' EXHIBITS:

EXHIBIT-P1 THE TRUE COPY OF THE RELEVANT PORTION OF THE LOAN PASS BOOK ISSUED BY THE SECOND RESPONDENT EXHIBIT-P2 THE TRUE COPY OF THE NOTICE DATED 22/3/2022 ISSUED BY THE FIRST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002.

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE