Noushad P. I vs Indian Bank
2023 Latest Caselaw 6434 Ker

               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. 18308 OF 2023


PETITIONERS:

     1     NOUSHAD P. I., AGED 60 YEARS, S/O C.O. SUBAIDA, RESIDING AT
           PATTOLIL PUTHEN VEEDU, EDAKKULANGARA P.O.,
           KARUNAGAPPALLY, THODIYOOR, KOLLAM DISTRICT, PIN - 690523

     2     SHAMEENA S., AGED 52 YEARS, W/O NOUSHAD P. I., RESIDING AT
           PATTOLIL PUTHEN VEEDU, EDAKKULANGARA P.O.,KARUNAGAPPALLY,
           THODIYOOR, KOLLAM DISTRICT - 690523, PIN - 690523

           BY ADVS.BHARAT VIJAY P.
           SHAHNOY SHAJI


RESPONDENTS:

     1     INDIAN BANK, HEAD OFFICE, VALIAPALLY JUNCTION, PULLUVILA
           P.O., KARUMKULAM, THIRUVANANTHAPURAM DISTRICT ,
           REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 695526

     2     THE BRANCH MANAGER, INDIAN BANK, KARUNAGAPPALLY BRANCH,
           DEVASWOM BUILDING, KARUNAGAPPALLY, KOLLAM DISTRICT, PIN -
           690518

           BY ADV S.EASWARAN


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 18308 OF 2023

                               :: 2 ::




                          JUDGMENT

Dated this the 13th day of June 2023

The writ petition is filed to direct the first

respondent - Bank to permit the petitioners to pay off the

overdue amount in 18 instalments and regularise the

loan account.

2. The petitioners' case is that, they had availed

overdraft facility from the first respondent - Bank - by

creating an equitable mortgage. Due to circumstances

beyond their control, they could not pay the instalments

on time. The first respondent - Bank has initiated

proceedings under the Securitization and Reconstruction

of Financial Assets and Enforcement of Security Interest

Act, 2002 and is proceeding against the secured asset.

The petitioner is prepared to pay off the overdue amount

in instalments. Hence, the writ petition. WP(C) NO. 18308 OF 2023

:: 3 ::

3. The respondents have filed a counter affidavit,

inter alia, contending that the respondents are not in a

position to regularise the loan account because there is

no business operation in the account and also the

petitioner has not submitted any papers for renewal of

accounts. The bank has no other alternative but to fall

back on the collateral security and proceed against the

same. Hence, the writ petition may be dismissed.

4. Heard; Sri.Bharat Vijay.P, the learned counsel

appearing for the petitioner and Sri.S.Easwaran, the

learned counsel appearing for the respondents.

5. The Hon'ble Supreme Court in South Indian Bank

Ltd vs. Naveen Mathew Philip [2023 LiveLaw (SC) 320],

after adverting to a myriad of earlier judicial

pronouncements rendered under the Act, has

categorically declared that High Courts shall not, unless

in extra ordinary circumstances, interfere with

proceedings initiated under the Securitisation and WP(C) NO. 18308 OF 2023

:: 4 ::

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002, in writ proceedings under

Article 226 of the Constitution of India.

6. Having considered the pleadings and materials on

record and taking note of the stand taken by the

respondents in the counter affidavit, I could not find any

extra ordinary circumstances to entertain the writ

petition by exercising the plenary powers of this Court

under Article 226 of the Constitution of India.

Nonetheless, it will be up to the petitioners to work out

their remedies in accordance with law.

Resultantly, the writ petition is dismissed, without

prejudice to the right of the petitioners to work out her

remedies, in accordance with law.

sd/-

C.S.DIAS JUDGE jes WP(C) NO. 18308 OF 2023

:: 5 ::

APPENDIX OF WP(C) 18308/2023

PETITIONERS' EXHIBITS:

Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 20/10/2022 SENT BY THE FIRST RESPONDENT TO THE PETITIONER.

Exhibit P2 THE TRUE COPY OF NOTICE OF INTENDED SALE DATED 03/05/2023 ISSUED BY THE FIRST RESPONDENT BANK TO THE PETITIONERS.