Aniyamma Joseph vs The South Indian Bank Limited
2023 Latest Caselaw 642 Ker

                         IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                          PRESENT

                          THE HONOURABLE MR. JUSTICE GOPINATH P.

                THURSDAY, THE 12TH DAY OF JANUARY 2023 / 22ND POUSHA, 1944

                                    WP(C) NO. 22 OF 2023

      AGAINST THE ORDER/JUDGMENT MC 157/2022 OF CHIEF JUDICIAL MAGISTRATE ,KOTTAYAM

PETITIONERS:

      1        ANIYAMMA JOSEPH
               AGED 58 YEARS
               WIFE OF LATE K.C. JOSEPH, PULPEL HOUSE,
               KOOVAPPALLY P.O., KANJIRAPALLY, KOTTAYAM DISTRICT
               KERALA
               , PIN - 686512
      2        SAVIO JOSE
               AGED 28 YEARS
               SON OF LATE K.C. JOSEPH, PULPEL HOUSE,
               KOOVAPPALLY P.O., KANJIRAPALLY, KOTTAYAM DISTRICT
               KERALA
               , PIN - 686512
      3        ANNA MARIA JOSE
               AGED 32 YEARS
               DAUGHTER OF LATE. K.C. JOSEPH, PULPEL HOUSE,
               KOOVAPPALLY P.O., KANJIRAPALLY, KOTTAYAM DISTRICT
               KERALA
               , PIN - 686512
               BY ADVS.
               LUKE J CHIRAYIL
               M.G.SREEJITH
               P.JAYA
               ELSA MARY THOMAS
               AMAL JOSE
               ROJIN DEVASSY
               JOSEPH MARVEL NORONHA
               BIBAS C. BABU

RESPONDENTS:

      1        THE SOUTH INDIAN BANK LIMITED
               REGIONAL OFFICE, REGENCY SQUARE
               K.K. ROAD, COLLECTORATE P.O.,
               KOTTAYAM DISTRICT, KERALA,
               REPRESENTED BY ITS CHIEF MANAGER AND AUTHORISED OFFICER
               , PIN - 686002
      2        THE MANAGER
               THE SOUTH INDIAN BANK LIMITED
               REGIONAL OFFICE, REGENCY SQUARE
               K.K. ROAD, COLLECTORATE P.O.,
               KOTTAYAM DISTRICT, KERALA
               , PIN - 686002
               BY ADV P.PAULOCHAN ANTONY P

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12.01.2023, THE COURT ON THE

SAME DAY DELIVERED THE FOLLOWING:
 W.P. (C) No. 22 of 2023
                                        ..2..


                                 JUDGMENT

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 Securitisation Act) for recovery of

the amounts due upon two loans availed by the

petitioners.

2. During the course of hearing, petitioners have

confined the relief to an opportunity for repaying the

outstanding amount in instalments.

3. It was submitted on behalf of the respondent

bank that the petitioners committed default in

repayment and the outstanding amount is

Rs.17,61,666/- as on today (12.01.2023). It was

further submitted that though proceedings for

recovery have been initiated, as a matter of W.P. (C) No. 22 of 2023 ..3..

indulgence, the respondent bank is willing to accept

repayment of the outstanding amount in limited

instalments. The learned counsel appearing for the

respondent bank submits that the only indulgence

can be shown to the petitioners is to permit the

petitioners to clear the entire liability before

31.03.2023. It is submitted that any further

extension of time to clear the liability will cause

serious prejudice to the respondent bank.

4. I have heard the learned counsel for the

petitioners as well as the learned Standing Counsel

for the respondents.

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 outstanding amount in six W.P. (C) No. 22 of 2023 ..4..

(6) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.17,61,666/- along with

bank charges from the petitioners on the following

conditions:

(i) The outstanding amount of Rs.17,61,666/-

together with any accrued interest/costs shall

be repaid in six (6) equated monthly

instalments.

(ii) The first instalment shall be paid on or before

31.01.2023 and subsequent instalments shall

be paid on or before last working day of every

succeeding month.

(iii) In the event of default of any one instalment,

the respondent bank shall be entitled to

proceed in accordance with law. W.P. (C) No. 22 of 2023 ..5..

(iv) In order to enable the petitioners 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. 22 of 2023 ..6..

APPENDIX OF WP(C) 22/2023

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE DEATH CERTIFICATE ISSUED BY THE THIRUVALLA MUNICIPALITY EVIDENCING THE DEATH OF SRI. K.C. JOSEPH, HAVING REGISTRATION NUMBER 574/2018 DATED 12.04.2018 Exhibit P2 THE TRUE COPY OF THE PETITION NUMBERED AS M.C. NO:

157/2022 IN UN-NUMBERED CRL. M.P. DATED 25.02.2022 ON THE FILES OF THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT AT KOTTAYAM Exhibit P3 THE TRUE COPY OF THE ORDER DATED 04.03.2022 IN M.C.

NO: 157/2022 ON THE FILES OF THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT AT KOTTAYAM Exhibit P4 THE TRUE COPY OF THE CASE STATUS OF M.C. NO:

157/2022 ON THE FILES OF THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT AT KOTTAYAM Exhibit P5 THE TRUE COPY OF THE RELEVANT PAGES OF THE PASSBOOK ISSUED BY SOUTH INDIAN BANK LTD. IN FAVOUR OF SRI. K.C. JOSEPH, HAVING LOAN ACCOUNT NUMBER 0344656000000007

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE