Lemin Lawrence vs Authorised Officer
2023 Latest Caselaw 6443 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. 652 OF 2023
PETITIONER:

     1        LEMIN LAWRENCE,
              EDAKKALATHUR HOUSE, ANJUR P.O MUNDUR,
              THRISSUR, KERALA, PIN - 680541
              BY ADVS.
              RENJITH B.MARAR
              LAKSHMI.N.KAIMAL
              ARUN POOMULLI
              PREETHA S CHANDRAN
              ABHIJITH SREEKUMAR
              JOSEPH KIRAN D. THEKKEKARA

RESPONDENTS:

     1        AUTHORISED OFFICER,
              DHANLAXMI BANK, THRISSUR REGION-REGIONAL OFFICE,
              THRISSUR, PIN - 680002
     2        THE MANAGER,
              DHANLAXMI BANK LTD,HIGH ROAD BRANCH,
              THRISSUR, PIN - 680001
              BY ADVS.
              VIVEK VARGHESE P.J.
              SRI.VIVEK VARGHESE P.J., SC, DHANLAXMI BANK
              VARUGHESE M EASO

     THIS     WRIT    PETITION    (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
13.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.652 of 2023
                                2




                          C.S.DIAS, J.
                -------------------------
                     W.P.(C.) No.652 of 2023
                -------------------------
            Dated this the 13th day of June, 2023

                          JUDGMENT

The writ petition has been filed to direct the

respondents to permit the petitioner to pay off

the overdue amounts in instalments.

2. The petitioner's case is that, he had availed

a Kissan Cash Credit Facility from the respondent

bank for Rs.1.5 crores by creating an equitable

mortgage. Due to Covid-19 pandemic, he could

not pay the instalments on time. The respondents

have now proceeded against the secured asset

under the Securitization and Reconstruction of

Financial Assets and Enforcement of Security

Interest Act (in short, 'Act'). The petitioner is

prepared to pay off the overdue amount in WPC No.652 of 2023

instalments. Hence, the writ petition.

3. When the writ petition came up for

consideration, this Court by interim orders,

directed the petitioner to deposit Rs.48/- lakh to

consider his prayer to pay the overdue amount in

instalments.

4. Today, when the writ petition was taken up

for consideration, Sri.Vivek Varghese P.J., on

instructions, submitted that, the petitioner has

complied with the conditional interim orders

passed by this Court. However, as on today, the

overdue amount is Rs.1.24/- Crore. The

respondents are willing to permit the petitioner

to pay off the above overdue amount in ten

equated monthly instalments. The said

submission is recorded.

5. The learned Counsel appearing for the

petitioner submitted that the petitioner is ready

to accept the above offer.

WPC No.652 of 2023

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 Ext.P12

notice, to enable the petitioner to pay the

overdue amount in instalments.

(ii) The petitioner is permitted to pay the

overdue amount as state above with future

interest and cost to the respondent bank in ten

equated monthly instalments commencing from

13.07.2023, along with regular EMIs. WPC No.652 of 2023

(iii) Needless to mention, if the petitioner

commits default of the condition ordered above,

he 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/-

C. S. DIAS JUDGE SKP/13-06 WPC No.652 of 2023

APPENDIX OF WP(C) 652/2023

PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE CERTIFICATE DATED 27.03.2021 EXHIBIT P2 TRUE COPY OF EXIT REVIEW AGREEMENT DATED 18.06.2021 EXHIBIT P3 A TRUE COPY OF THE LETTER DATED 30.06.2021 PREFERRED BY THE PETITIONER TO THE 2ND RESPONDENT EXHIBIT P4 A TRUE COPY OF THE LETTER DATED 30.08.2021 EXHIBIT P5 A TRUE COPY OF THE EMAIL DATED 28.09.2021 ISSUED TO THE PETITIONER BY THE CREDIT OFFICER OF DHANLAXMI BANK EXHIBIT P6 A TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONER FROM 1.04.2020 TO 31.03.2021 EXHIBIT P7 A TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONER FROM 1.04.2021 TO 25.03.2022 EXHIBIT P8 A TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONER FROM 1.03.2022 TO 31.03.2022 EXHIBIT P9 A TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONER FROM 1.04.2022 TO 31.12.2022 EXHIBIT P10 A TRUE COPY OF THE RECALL NOTICE DATED 6.10.2022 ISSUED BY THE 2ND RESPONDENT EXHIBIT P11 A TRUE COPY OF THE LETTER DATED 22.10.2022 PREFERRED BY THE PETITIONER TO 2ND RESPONDENT EXHIBIT P12 A TRUE COPY OF THE NOTICE DATED 16.11.2022 UNDER SECTION 13(2) OF THE SARFAESI ACT EXHIBIT P13 A TRUE COPY OF THE REPRESENTATION BY THE PETITIONER DATED 26.12.2022 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE