Nizamudeen Basheer vs Kerala Gramin Bank
2023 Latest Caselaw 383 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
    WEDNESDAY, THE 11TH DAY OF JANUARY 2023 / 21ST POUSHA, 1944
                         WP(C) NO. 389 OF 2023
PETITIONER/S:

    1     NIZAMUDEEN BASHEER
          AGED 49 YEARS
          KALEEKKAPARAMBIL HOUSE, PRATHANGAMOODU,
          KAYAMKULAM P.O., ALAPPUZHA., PIN - 690502
    2     SHEREENA NIZAMUDEEN
          AGED 32 YEARS
          W/O NIZAMUDEEN,
          KALEEKKAPARAMBIL HOUSE, PRATHANGAMOODU,
          KAYAMKULAM P.O., ALAPPUZHA., PIN - 690502
          BY ADV GOKUL D. SUDHAKARAN


RESPONDENT/S:

    1     KERALA GRAMIN BANK
          KAYAMKULAM BRANCH OFFICE, SAFAYA COMPLEX,
          MARKET ROAD, KAYAMKULAM.
          REPRESENTED BY ITS BRANCH MANAGER
          KAYAMKULAM, ALAPPUZHA - 690 502., PIN - 690502
    2     THE AUTHORIZED OFFICER
          REGIONAL OFFICE, COASTAL TOWERS(KARITHATT),
          PIPELINE ROAD, PALARIVATTOM, ERNAKULAM - 682 025, PIN -
          682025



          ADV. K M ANEESH (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 389 OF 2023               2



                               JUDGMENT

Petitioners have approached this Court, challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioners.

2. Learned counsel appearing for the petitioner

submits that the petitioners could not repay the loan

because of financial crisis. It is submitted that the

properties of the petitioners are scheduled to be sold on

16.01.2023 and the petitioners may be given an opportunity

to repay 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 petitioners availed a housing loan from the

respondent bank and committed default in repayment. It is

submitted that the respondent bank has no objection in

permitting the petitioners to clear the overdue amount in

some instalments, if the petitioners make a substantial

payment before the date of sale. It is submitted that the

overdue amount, as of now, is Rs.3,38,000/- (Rupees Three

lakhs and thirty eight thousand only).

4. Learned counsel appearing for the petitioners

would submit that the 1st petitioner is now working as a

freelance photographer and is living in the premises in

question along with his two minor children. It is submitted

that the petitioner may not be in a position to make any

substantial deposit before 16.01.2023. It is submitted that

the petitioners may be permitted to clear the overdue

amount along with the regular EMIs in some instalments.

5. Having regard to the circumstances of the case

and the situation now prevailing, apart from the submissions

made as recorded above, I am of the view that the

petitioners can be granted an opportunity to repay the

overdue amount in eighteen instalments 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.3,38,000/- (Rupees Three lakhs and thirty eight

thousand only) along with bank charges from the petitioners

and regularise the loan account of the petitioners in the

following manner:-

(i) The overdue amount of Rs.3,38,000/- (Rupees Three lakhs and thirty eight thousand only) along with any accrued

interest and charges shall be repaid in eighteen equated monthly instalments;

(ii)The first instalment shall be paid on or before 16.01.2023 and the subsequent instalments shall be paid on or before the 16th day of each succeeding month;

(iii)Petitioners shall continue to pay the regular EMI's/instalments 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;

(vi) It is made clear that no further extension of time will be granted to the petitioners under any circumstances.

The writ petition is disposed of as above.

sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 389/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE U/S.13(2) OF THE SARFAESI ACT DATED 03-08-2021 ISSUED BY THE 2ND RESPONDENT.

Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT U/S.13(4)(D) OF THE SARFAESI ACT ALONG WITH THE SALE NOTICE DATED 08-12-2022