Kerala High Court
Mili Mol vs The Authorised Officer on 13 June, 2023
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WP(C) No.16477 of 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
TUESDAY, THE 13TH DAY OF JUNE 2023 / 23RD JYAISHTA, 1945
WP(C) NO. 16477 OF 2023
PETITIONER/S:
MILI MOL , AGED 45 YEARS
D/O. M.V. SUKUMARAN, RESIDING AT: MANNUPPATTU
AMBADIYIL, PARIYARAM P.O, KOZHENCHERRY TALUK,
PATHANAMTHITTA DISTRICT- 689643 (NOW RESIDING AT
HOLTSBILLE, NEW YORK, USA) REPRESENTED BY HER
FATHER/POWER OF ATTORNEY HOLDER, MR.M.V.SUKUMARAN,
AGED 75, S/O.NEELAKANDAN, MANNUPPATTU AMBADIYIL,
PARIYARAM P.O, KOZHENCHERRY TALUK, PATHANAMTHITTA
DISTRICT- 689643
BY ADV V.PHILIP MATHEWS
RESPONDENT/S:
1 THE AUTHORISED OFFICER,
STATE BANK OF INDIA,STRESSED ASSETS RECOVERY
BRANCH,7TH FLOOR,VANKARATH TOWERS,PALARIVATTOM BYE
PASS JUNCTION,ERNAKULAM, PIN - 682024
2 STATE BANK OF INDIA,
SB COLLEGE BRANCH,CHANGANACHERRY, KOTTAYAM
DISTRICT- REPRESENTED BY ITS BRANCH MANAGER., PIN -
686101
BY ADV SHRI.JAWAHAR JOSE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 13.06.2023, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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WP(C) No.16477 of 2023
C.S DIAS,J.
---------------------------
WP(C) No.16477 of 2023
-----------------------------
Dated this the 13th day of June, 2023 .
JUDGMENT
The writ petition is filed to direct the respondents
to permit the petitioner to pay off the outstanding
amount in equated monthly instalments.
2. The petitioner's case is that she and her
former husband had availed a housing loan from the
second respondent - Bank - by creating an equitable
mortgage. Due to unforeseen circumstances, they
could not pay the instalments on time. The
respondents have initiated proceedings against the
secured asset under the Securitization and
Reconstruction of Financial Assets and Enforcement of
WP(C) No.16477 of 2023
Security Interest Act (in short, 'Act'). The petitioner
is prepared to pay off the outstanding amount in
equated monthly instalments. Hence, the writ petition.
3. Heard; Sri.V.Philip Mathew, the learned
counsel appearing for the petitioner and Sri.Jawahar
Jose, the learned counsel appearing for the
respondents.
4. Sri.Jawahar Jose, on instructions, submitted
that, as on 13.6.2023, the outstanding amount is
Rs.22,96,251/-. The respondents are willing to permit
the petitioner to pay off the outstanding amount in ten
equated monthly instalments. The said submission is
recorded.
5. The learned counsel appearing for the
petitioner submitted that the petitioner may be granted
WP(C) No.16477 of 2023
at least twelve equated monthly instalments to pay off
the outstanding amount.
6. Having considered the pleadings and materials
on record and the submission made by the learned
counsel appearing for the parties, to provide the
petitioner one last opportunity to pay off the loan
amount, I am inclined to exercise the powers of this
Court under Article 226 of the Constitution of India
and dispose of 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 P2 and P3 to
enable the petitioner to pay the outstanding amount in
instalments.
WP(C) No.16477 of 2023
(ii) The petitioner is permitted to pay the
outstanding amount as stated above with future interest
and cost to the second respondent - Bank - in twelve
equated monthly instalments commencing from
12.7.2023.
(iii) Needless to mention, if the petitioner commits
default of the condition ordered above, she 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/13.6.2023 C.S.DIAS, JUDGE
WP(C) No.16477 of 2023
APPENDIX OF WP(C) 16477/2023
PETITIONER EXHIBITS
Exhibit P1 COPY OF THE STATEMENT OF ACCOUNT RELATING
TO ACCOUNT NO 67218423069 FOR THE PERIOD
FROM 27.3.13 TO 1.11.2022
Exhibit P2 COPY OF DEMAND NOTICE DATED 12-09-2022
ISSUED BY THE FIRST RESPONDENT UNDER
SECTION 13(2) OF THE SARFEASI ACT
Exhibit P3 COPY OF POSSESSION NOTICE DATED 05-04-
2023 ISSUED BY THE FIRST RESPONDENT
Exhibit P4 COPY OF MEMORANDUM OF COMPROMISE FILED BY
THE PETITIONER AND HER FORMER HUSBAND IN
O.P.NO.965/2021
