Bindu. L vs The General Manager, Karaman ...
2023 Latest Caselaw 1481 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. 22735 OF 2021
PETITIONERS:

    1     BINDU. L
          AGED 41 YEARS
          TC 68/733, PRIYA SADANAM, THIRUVALLAM P.O,
          TRIVANDRUM-695 027.

    2     VENUTHAN NAIR C.
          T C 68/570 (2) VISHAKOM, MADATHUVILAKOM,
          THIRUVALLAM P.O, TRIVANDRUM-695 027.

          BY ADV SERGI JOSEPH THOMAS



RESPONDENTS:

    1     THE GENERAL MANAGER, KARAMAN CO-OPERATIVE URBAN BANK
          LTD.
          NO.1761, HEAD OFFICE, P B NO.621,
          KARAMAN, TRIVANDRUM-695 002.

    2     THE BRANCH MANAGER
          MAIN BRANCH, KARAMANA CO-OPERATIVE URBAN BANK LIMITED
          NO.
          1761, P.B.NO.621, KARAMAN, TRIVANDRUM-695 002.

    3     THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES(GENERAL)
          THIRUVANANTHAPURAM-695 014.

    4     THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES
          (GENERAL)
          THIRUVANANTHAPURAM, PIN-695 014.

          BY ADV R.S.KALKURA




     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.22735/2021                        2




                                JUDGMENT

Petitioners have approached this Court challenging

proceedings initiated against the petitioners under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act

(SARFAESI Act) to recover amounts due under a mortgage

loan availed by the petitioners from the respondent Bank.

2. When this matter is taken up for consideration

today, the learned counsel appearing for the petitioners

would submit that the petitioners may be permitted to

approach the respondent Bank with a proposal to settle the

liability under a One Time Settlement scheme.

3. The learned counsel appearing for the respondent

Bank would submit that the overdue amount as on

20-01-2023, is Rs.7,78,062/-(Rupees Seven Lakh Seventy

Eight Thousand and Sixty Two only), while the total

outstanding amount is Rs.9,43,062/-(Rupees Nine Lakh Forty

Three Thousand and Sixty Two only). It is submitted that the

bank has no objection in considering any OTS proposal that

may be submitted by the petitioners as per the policy of the

bank.

4. Having regard to the submissions made by the

learned counsel appearing for the petitioners and the learned

counsel appearing for the respondent Bank, this writ petition

will stand disposed of directing that if the petitioners submit a

proposal for settlement of the liability under OTS (which may

be considered under the policy of the bank or any OTS

scheme in force) within a period of two weeks from today, the

same shall be considered by a competent authority of the

respondent Bank and a decision taken there on shall be

communicated to the petitioners. The petitioners shall also

make an upfront payment of Rs.1,00,000/-(Rupees One Lakh

Only) along with the proposal for OTS. If the OTS is granted

to the petitioners the amount paid by the petitioners shall be

treated as payment against the amount of OTS. Further

proceedings against the petitioners under the provisions of

the SARFAESI Act shall remain suspended till a decision is

taken on the proposal to be submitted by the petitioners as

above. The benefit of suspension of proceedings will be

available to the petitioners only if the petitioners submit a

proposal for OTS within a period of two weeks from today

along with the payment of Rupees One Lakh as directed

above.

The writ petition will stand disposed of as above.

Sd/-

GOPINATH P.

JUDGE ats

APPENDIX OF WP(C) 22735/2021

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE JUDGMENT DATED 06.09.2018 IN WPC NO.19589 OF 2018.

Exhibit P2 TRUE COPY OF THE REQUEST DATED 17.03.2021 SUBMITTED BY THE 1ST PETITIONER BEFORE THE 3RD RESPONDENT.

Exhibit P3 TRUE COPY OF THE COMMUNICATION DATED 02.07.2021 SENT BY THE 4TH RESPONDENT.

Exhibit P4 TRUE COPY OF THE NOTICE DATED 11.10.2021 SENT BY THE ADVOCATE COMMISSIONER.

Exhibit P5 TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE 2ND RESPONDENT.