Saji.M.C vs Kerala Gramin Bank, Represented ...
2023 Latest Caselaw 711 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. 870 OF 2023
PETITIONER:

     1        SAJI.M.C.
              AGED 49 YEARS
              S/O.CHATHAN
              MANAGATTU HOUSE EDAKKUNNU,
              PADUVAPURAM P.O., KARUKUTTY.
              KERALA, PIN - 683576
              BY ADVS.
              SANEL CHERIAN
              C.M.VIVEK

RESPONDENTS:

     1        KERALA GRAMIN BANK,
              ANGAMALY BRANCJH, KALOOKKARAN TOWERS,
              1ST FLOOR, ANGAMALY P.O.
              ERNAKULAM DISTRICT, PIN - 683 572
              REPRESENTED BY AUTHORISED OFFICER
     2        REGIONAL MANAGER,
              KERALA GRAMIN BANK
              COASTAL TOWER, NEAR SAMSKARA JUNCTION,
              PIPELINE ROAD, ERNAKULAM, PIN - 682 025
              BY ADV JAWAHAR JOSE

     THIS     WRIT    PETITION    (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
12.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.870 of 2023
                                  2




                           JUDGMENT

Dated this the 12th day of January, 2023

The petitioner has availed a loan of Rs.50,000/-

from the respondent bank in the year 2006. After

repaying the 1st instalment of Rs.517/- in the month

immediately after disbursal of loan, the petitioner did

not pay any further amount till he paid an amount of

Rs.21,000/- towards 10% of the One Time Settlement

offered to him in the year 2022. The present liability

of the petitioner is Rs.2,80,227/-. The property of the

petitioner is scheduled to be sold under the provisions

of the SARFAESI Act, 2002 on 16.01.2023.

2. Learned counsel for the petitioner submits that

the petitioner may be permitted to clear the liability in

some instalments.

3. Learned counsel appearing for the respondent

bank states that the petitioner is a recalcitrant

defaulter. It is submitted that notwithstanding the WPC No.870 of 2023

above, the respondent bank has no objection is

granting some instalments to the petitioner to clear

the liability, provided some amount is deposited prior

to the date of sale.

Having regard to the submissions as above, the

writ petition will stand disposed of in the following

manner:-

(i) The petitioner shall pay a sum of Rs.20,000/-

on or before 5 pm on 13.01.2023. The balance

overdue amount along with any accrued

interest and charges shall be repaid in twelve

(12) 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 10th day of every

succeeding month;

(iii) Petitioner shall continue to pay the regular

EMI's along with the instalments directed

above;

WPC No.870 of 2023

(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 petitioner to repay the

entire amounts, all coercive proceedings shall

be kept in abeyance.

Sd/-

GOPINATH P.

JUDGE SKP/12-01 WPC No.870 of 2023

APPENDIX OF WP(C) 870/2023

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE RECEIPT ISSUED FROM THE 1ST RESPONDENT EXHIBIT P2 TRUE COPY OF THE POSSESSION NOTICE DATED 25.10.2022 EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 7.12.22 ISSUED BY THE 2ND RESPONDENT

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE