Robin V Thomas vs Peoples Urban Co-Operative Bank
2023 Latest Caselaw 106 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
      FRIDAY, THE 6TH DAY OF JANUARY 2023 / 16TH POUSHA, 1944
                        WP(C) NO. 10946 OF 2022
PETITIONER:

          ROBIN V THOMAS
          AGED 31 YEARS, S/O. THOMAS,
          VILAMAMURI (H), EDAPALLY (PO)
          ERNAKULAM- 678 506.

          BY ADVS.
                     S.MUMTAZ
                     AJITH.M.JIJI



RESPONDENT:

          PEOPLES URBAN CO-OPERATIVE BANK
          REPRESENTED BY THE AUTHORIZED OFFICER,
          MAIN ROAD, EAST FORT GATE, THRIPPUNITHURA,
          KOCHI, ERNAKULAM -682 301.


OTHER PRESENT:

          ADV. DEVAPRASANTH P J (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.10946/2022                       2




                                 JUDGMENT

This writ petition has been filed challenging the

proceedings initiated against the petitioner under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act

(SARFAESI Act) to recover amounts due under credit facilities

extended to the petitioner by the respondent Bank.

2. This Court had by order dated 17-08-2022, granted

a stay of sale of the property of the petitioner proposed to be

held on 20-08-2022, on condition that the petitioner remits a

sum of Rs.1,50,000/- towards the loan liability on or before

19-08-2022. It is not disputed before me that the said amount

has been paid by the petitioner.

3. The learned counsel appearing for the respondent

Bank submits that the overdue amount after giving credit to

the amount paid by the petitioner is Rs.5,57,135/- (Rupees

Five Lakh Fifty Seven Thousand One Hundred and Thirty Five

only)(as on 05-01-2023). It is submitted that the petitioner

had approached the Bank on 29-12-2022 and had undertaken

to clear the entire overdue amount on or before 25-01-2023.

A copy of the letter given by the petitioner is shown to me by

the learned counsel for the respondent Bank.

4. The learned counsel appearing for the petitioner

would submit that she has no instructions as to whether the

petitioner had agreed to clear the liability by 25-01-2023.

5. Having heard the learned counsel appearing for the

petitioner and the learned counsel appearing for the

respondent Bank, I am of the view that this writ petition can

be disposed of permitting the petitioner to pay the overdue

amount mentioned above along with accrued interest and

costs by 15-02-2023. If the petitioner does not pay the

overdue amount within the aforesaid date along with regular

EMI's payable by the petitioner on the due dates, the

respondent Bank will be entitled to proceed further against

the petitioner in accordance with law.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ats

APPENDIX OF WP(C) 10946/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF SALE NOTICE DATED 21-02-2022

Exhibit P2 REQUEST LETTER DATED 22-03-2022 GIVEN BY THE PETITIONER TO THE RESPONDENT