Vinayachandran.A.M vs Authorized Officer/Chief ...
2023 Latest Caselaw 1438 Ker

                      IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                       PRESENT

                       THE HONOURABLE MR. JUSTICE GOPINATH P.

               FRIDAY, THE 20TH DAY OF JANUARY 2023 / 30TH POUSHA, 1944

                               WP(C) NO. 2027 OF 2023

PETITIONER:

               VINAYACHANDRAN.A.M.
               AGED 34 YEARS
               S/O MURALEEDHARAN NAIR,
               THEKKUMKOVIL HOUSE, MANNANCHERRY P.O.,
               ALAPPUZHA, PIN 688538,
               REPRESENTED BY HIS REGISTERED POWER OF ATTORNEY HOLDER
               THANKAMANI MURALI, W/O MURALEEDHARAN NAIR, AGED 58,
               THEKKUMKOVIL HOUSE, MANNANCHERRY P.O.
               CHERTHALA, ALAPPUZHA,, PIN - 688538
               BY ADVS.
               C.G.BINDU
               AJITHA C.G.
               K.J.SARANYA RAJ


RESPONDENTS:

     1         AUTHORIZED OFFICER/CHIEF MANAGER
               CATHOLIC SYRIAN BANK LTD.,
               KALAMASSERRY BRANCH, 1ST FLOOR,
               RAINA COMPLEX, PREMIER JUNCTION,
               KALAMASSERY, PIN - 683104
     2         CATHOLIC SYRIAN BANK LTD.
               KALAMASSERRY BRANCH,
               REPRESENTED BY BRANCH MANAGER,
               1ST FLOOR, RAINA COMPLEX, PREMIER JUNCTION,
               KALAMASSERY,, PIN - 683104

OTHER PRESENT:

               ADV. MADHU RADHAKRISHNAN (SC)



      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
20.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P. (C) No. 2027 of 2023
                                   ..2..




                             JUDGMENT

Petitioner has 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

a housing loan availed by the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

overdue amount in instalments and to obtain

regularisation of the loan account.

3. It was submitted on behalf of the respondent

bank that the petitioner committed default in

repayment and the overdue amount is Rs.2,80,000/-.

It was further submitted that though proceedings for

recovery have been initiated, as a matter of

indulgence, the respondent bank is willing to accept W.P. (C) No. 2027 of 2023 ..3..

repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard the learned counsel for the

petitioner 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

considering the fact that this is a housing loan and

also taking into account the fact that the petitioner

has undertaken to clear off the overdue amount

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

petitioner can be granted an opportunity to clear off

the overdue amount in six (6) equal monthly

instalments first of which shall be paid on or before

10.02.2023 and thereafter, if the amount so directed

is repaid within the time as directed above, to have

the loan account regularised.

W.P. (C) No. 2027 of 2023 ..4..

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

overdue amount of Rs.2,80,000/- along with bank

charges from the petitioner and regularise the loan

account of the petitioner on the following conditions:

(i) The overdue amount of Rs.2,80,000/-

together with any accrued interest and

charges shall be repaid in six (6) equated

monthly instalments.

(ii) The first instalment shall be paid on or

before 10.02.2023 and the subsequent

instalments shall be paid on the last working

day of every succeeding month.

(iii) Petitioner shall continue to pay the regular

EMI's along with the instalments directed

above.

(iv) In the event of default of any one

instalment, the respondent bank shall be W.P. (C) No. 2027 of 2023 ..5..

entitled to proceed in accordance with law.

(v) In order to enable the petitioner to repay the

entire amounts, all coercive proceedings

shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE RMV W.P. (C) No. 2027 of 2023 ..6..

APPENDIX OF WP(C) 2027/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DISCHARGE CARD ISSUED FROM THE DEPARTMENT OF SURGERY, MEDICAL COLLEGE HOSPITAL ALAPPUZHA TO THE MOTHER OF PETITIONER Exhibit P2 TRUE COPY OF THE TREATMENT CERTIFICATE OF THE FATHER OF PETITIONER ISSUED FROM THE DEPARTMENT OF CARDIOLOGY, MEDICAL COLLEGE HOSPITAL, ALAPPUZHA Exhibit P3 TRUE COPY OF THE NOTICE DATED 17.12.2022 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE ADDL. CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA IN M.C. NO.632/2022

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE