Kerala High Court
Kunjimma vs The Kerala State Co-Operative ... on 13 June, 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. 19019 OF 2023
PETITIONER/S:
1 KUNJIMMA
AGED 68 YEARS
W/O HAMZA, THIYYATHILVELLYAVEETIL HOUSE, VADAKEEKAD,
THRISSUR DISTRICT, PIN - 679562
2 MIRSANA
AGED 33 YEARS
W/O SHEFFIN, THIYYATHILVELLYAVEETIL HOUSE, VADAKEEKAD,
THRISSUR DISTRICT, PIN - 679562
BY ADVS.
K.A.ANISH
K.HABEEBULLA
ELDO KURIAKOSE
RESPONDENT/S:
THE KERALA STATE CO-OPERATIVE BANK
CHAVAKKAD BRANCH, 22/395N, CAPITAL COMPLEX, NORTH BY
PASS ROAD, CHAVAKKAD, THRISSUR REPRESENTED BY ITS
AUTHORIZED OFFICER, PIN - 680506
BY ADV P.C.SASIDHARAN THE KERALA STATE CO-OPERATIVE
BANK
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. 19019 OF 2023
2
JUDGMENT
The writ petition is filed to direct the respondent to
permit the petitioners to pay off the overdue amount in
equated monthly installments and regularise the loan
account.
2. The petitioners' case is that they had obtained
financial assistance from the respondent by creating an
equitable mortgage. Due to reasons beyond their control,
they could not pay the installments in time. The
respondent has now proceeded against the secured asset
under the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002 (in
short, 'Act'). The petitioners are prepared to pay off the
overdue amount in installments. Hence, the writ petition.
3. Heard; Sri.Anish K.A., the learned Counsel
appearing for the petitioners and Sri.P.C.Sasidharan, the
learned Counsel appearing for the respondent.
4. Sri.P.C.Sasidharan, on instructions, submitted that
the petitioners had availed two loans. As on 31.05.2023
WP(C) NO. 19019 OF 2023
the overdue amount is Rs.34,10,069/-. The respondent is
willing to permit the petitioners to pay off the overdue
amount in 12 installments along with the regular EMIs.
The said submission is recorded.
5. The learned Counsel appearing for the petitioners
submitted that the petitioners are ready to accept the
above offer.
6. Having considered the pleadings and materials on
record and the submission made by the learned counsel
appearing for the parties, to provide the petitioners 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 respondent is directed to defer further
proceedings pursuant to Ext.P3, to enable the
petitioners to pay off the overdue amount in
WP(C) NO. 19019 OF 2023
instalments.
(ii) The petitioners are permitted to pay off the
overdue amount as stated above with future
interest and cost to the respondent in 12 equated
monthly instalments commencing from
13.07.2023 along with regular EMIs.
(iii) Needless to mention, if the petitioners default in
payment of any one of the installments as
directed above, the respondent would be at
liberty to revive the proceedings from the stage
it has been stopped and bring it to its logical
conclusion in accordance with law.
(iv) It is made clear that, no further application for
modification/extension of time shall be
entertained.
Sd/-
C.S.DIAS
JUDGE
rkc/13.06.23
WP(C) NO. 19019 OF 2023
APPENDIX OF WP(C) 19019/2023
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNTS
FROM 09.10.2014 TO 23.12.2022 IN RESPECT
OF LOAN ACCOUNT NO.80006443258
Exhibit P2 TRUE COPY OF THE STATEMENT OF ACCOUNTS
FROM 09.10.2014 TO 23.72.2022 IN RESPECT
OF LOAN ACCOUNT NO.80006443098
Exhibit P3 TRUE COPY OF THE NOTICE DATED 26.05.2023
