Rajesh.K vs 1. Kerala Gramin Bank
2023 Latest Caselaw 950 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
             THE HONOURABLE MR. JUSTICE GOPINATH P.
 TUESDAY, THE 17TH DAY OF JANUARY 2023 / 27TH POUSHA, 1944
                      WP(C) NO. 1420 OF 2023
PETITIONER:

            RAJESH.K
            AGED 54 YEARS, S/O GOPALKAKRISHNAN NAMBIAR,
            KIAZHAKKAMBI HOUSE, THEKKUMALA,
            NADUVATTOM.P.O, PIN - 679308
            BY ADV K.A.MANZOOR ALI


RESPONDENTS:

    1       KERALA GRAMIN BANK
            REPRESENTED BY ITS
            AUTHORIZED OFFICER/CHIEF MANAGER
            REGIONAL OFFICE, THRISSUR., PIN - 680 005.


    2       BRANCH MANAGER
            KERALA GRAMIN BANK,
            KOPPAM BRANCH, PALAKKAD, PIN - 679 307
            BY ADV K.M.ANEESH



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   17.01.2023,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.1420/2023
                                    -:2:-


                           JUDGMENT

Petitioner availed two separate credit facilities from

the respondent Bank, one is a KCC loan while the other is a

term loan. Petitioner has approached this Court

challenging proceedings initiated under the Securitisation

and Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due in respect of the aforesaid two loans.

2. The learned counsel appearing for the petitioner

submits that the petitioner does not dispute the liabilities

and may be permitted to clear the liability in installments.

3. The learned counsel appearing for the respondent

Bank submits that the term of both loans are expired and

the total outstanding amount in respect of the KCC loan is

Rs.6,22,534/- while the total outstanding amount in respect

of the term loan is Rs.21,57,859/-. It is submitted that the

bank has no objection in permitting the petitioner to clear

the outstanding amount in respect of both loans in some

installments.

W.P.(C) No.1420/2023

4. I have heard Adv. K.A.Manzoor Ali, learned counsel

for the petitioner as well as Adv. K.M.Aneesh, the learned

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

petitioner can be granted an opportunity to repay the

outstanding amount in 18 installments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.27,80,393/- (Rupees Twenty

Seven Lakh Eighty Thousand Three Hundred and Ninety

Three Only) along with any accrued interest and bank

charges from the petitioner on the following conditions:

(i) The total outstanding amount of Rs.27,80,393/-

(Rupees Twenty Seven Lakh Eighty Thousand Three

Hundred and Ninety Three Only) in respect of both loans

together with any accrued interest/cost shall be repaid in

18 equated monthly installments;

W.P.(C) No.1420/2023

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

10-02-2023. The subsequent installments shall be paid on

or before the 10th day of the succeeding months;

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

respondent bank shall be entitled to proceed in accordance

with law;

(iv) 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 ats W.P.(C) No.1420/2023

APPENDIX OF WP(C) 1420/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE SEC.13(2) NOTICE ISSUED BY THE 1ST RESPONDENT DATED 28/10/2022 TO THE PETITIONER'S FATHER

Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE DATED 12/1/2023 ISSUED BY THE 1ST RESPONDENT