Jayasree. S vs Bank Of Baroda
2023 Latest Caselaw 7886 Ker

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WP(C) No.23871 of 2023


              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                       PRESENT
                   THE HONOURABLE MR.JUSTICE C.S.DIAS
     WEDNESDAY, THE 26TH DAY OF JULY 2023 / 4TH SRAVANA, 1945
                           WP(C) NO. 23871 OF 2023
PETITIONER/S:

             JAYASREE. S,AGED 53 YEARS,W/O K.R. REGHU,
             KIZHAKKEVECHOOR HOUSE, NADUVILE VILLAGE,
             VADAKKENADA, VAIKOM TALUK, KOTTAYAM DISTRICT, MOB:-
             8281851381., PIN - 686141

             BY ADVS.
             P.K.MURALEEDHARAN
             SUNU P.JOHN


RESPONDENT/S:

      1      BANK OF BARODA,VAIKOM BRANCH, REPRESENTED BY ITS
             BRANCH MANAGER, 1ST FLOOR, RAHEJA TOWER,
             KACHERIKAVALA, WEST GATE, VAIKOM, KOTTAYAM
             DISTRICT, PIN - 686141

      2      THE BRANCH MANAGER,BANK OF BARODA, 1ST FLOOR,
             RAHEJA TOWER, KACHERIKAVALA, WEST GATE, VAIKOM,
             KOTTAYAN DISTRICT, PIN - 686141

      3      M. BRIJITHLAL P K,CHIEF MANAGER AND AUTHORIZED
             OFFICER, BANK OF BARODA, VAIKOM BRANCH, 1ST FLOOR,
             RAHEJA TOWER, KACHERIKAVALA, WEST GATE, VAIKOM,
             KOTTAYAM DISTRICT, PIN - 686141

OTHER PRESENT:

             Sri Rojo Joseph



       THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   26.07.2023,         THE   COURT    ON       THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
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WP(C) No.23871 of 2023


                         C.S DIAS,J.
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                 WP(C) No.23871 of 2023
                     -----------------------------
             Dated this the 26th day of July, 2023 .

                         JUDGMENT

The writ petition is filed to direct the respondents

to permit the petitioner to pay off the overdue amount

in equated monthly instalments and regularise the loan

account.

2. The petitioner's case is that she had availed a

housing loan from the first respondent - Bank - in the

year 2014. Subsequently, she had also availed a top

up loan. Due to the COVID-19 pandemic and the

reasons beyond her control, she could not pay the

instalments on time. Now, the Bank has initiated

proceedings against the secured asset under the

WP(C) No.23871 of 2023

Securitization and Reconstruction of Financial Assets

and Enforcement of Security Interest Act, 2002 ( in

short, 'Act') and threatening to take possession of the

same. The petitioner is willing to pay the overdue

amount in equated monthly instalments. Hence, the

writ petition.

3. Heard; Sri.P.K Muraleedharan, the learned

counsel appearing for the petitioner and Sri.Rojo

Joseph, the learned counsel appearing for the

respondents.

4. Sri.Rojo Joseph, on instructions, submitted

that the overdue amount as on today is Rs.4,42,500/-.

The respondents are willing to permit the petitioner to

pay the overdue amount in twelve equated monthly

instalments. The said submission is recorded.

WP(C) No.23871 of 2023

5. The learned counsel appearing for the

petitioner submitted that the petitioner is ready to

accept the above offer.

6. Having considered the pleadings and

materials on record, the submissions made by the

learned counsel appearing for the parties, the

consensus arrived at between the parties and to provide

the petitioner one last opportunity to clear off the

liability, I am inclined to exercise the powers of this

Court under Article 226 of the Constitution of India

and entertain the writ petition.

Resultantly, I dispose of the writ petition in the

following manner:

(i) The respondents are directed to defer further

coercive proceedings pursuant to Exts P5 and P6, to enable

WP(C) No.23871 of 2023

the petitioner to pay the liability in equated monthly

instalments as stated below.

(ii) The petitioner is permitted to pay the overdue

amount as stated above with future interest and cost to the

first respondent - Bank - in twelve equated monthly

instalments commencing from 26.8.2023 along with regular

EMIs.

(iii) Needless to mention, if the petitioner commits

default in any of the conditions ordered above, the petitioner

would lose the benefit of this judgment and the respondents

would be at liberty to proceed with recovery proceedings

from the stage it presently stands.

(iv) It is made clear that, no further application for

modification/extension of time shall be entertained.

SD/-

sks/26.7.2023 C.S.DIAS, JUDGE

WP(C) No.23871 of 2023

APPENDIX OF WP(C) 23871/2023

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE COUNTER FOIL OF PAYMENT DATED 29/3/2023 IN CASH IN THE COUNTER OF THE RESPONDENT BANK BY THE PETITIONER IN THE HOUSING LOAN NO. 44640600000769

Exhibit P2 A TRUE COPY OF THE COUNTER FOIL OF THE PAYMENT MADE BY THE PETITIONER IN HOUSING TOP UP LOAN A/C NO. 44640600001585 DTD 29/3/2023

Exhibit P3 A TRUE COPY OF THE STATEMENT OF ACCOUNTS DATED 16/6/2023 OF THE HOUSING LOAN A/C NO. 44640600000769 FROM 17/9/2022 TO 16/6/2023

Exhibit P4 A TRUE COPY OF THE STATEMENT OF ACCOUNT DATED 16/6/023 OF THE TOP UP LOAN ACCOUNT NO. 44640600001585 FROM 24/5/2022 TO 16/6/2023

Exhibit P5 A TRUE COPY OF THE SEE: 13 (2) NOTICE ADDRESSED TO JAYASREE S CLUBBED WITH M/S MAHESWARA TRADERS DTD 23/ 12/2022

Exhibit P6 A TRUE COPY OF THE SEC: 13 (2) R/W SEE;

13 (3) SYMBOLIC POSSESSION NOTICE DTD 15/3/2023

Exhibit P7 A TRUE COPY OF THE REPRESENTATION DTD.05/07/2023 SUBMITTED BY THE PETITIONER TO THE BRANCH MANAGER ,BANK OF BARODA, VAIKOM