Sathi A.K vs The Authorized Officer
2023 Latest Caselaw 6532 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. 18959 OF 2023
PETITIONER:

              SATHI A.K
              AGED 49 YEARS
              D/O KALLUKURUMBAM, ELLUNNYIL HOUSE VETTOR ,
              PUTHANKURISHU P.O, PIN - 682308
              BY ADVS.
              M.R.SASITH
              R.K.CHIRUTHA
              NEELANJANA NAIR
              ANJANA SURESH.E
              BHAVANA K.K
              REETHU JACOB

RESPONDENT:

              THE AUTHORIZED OFFICER
              PEOPLE URBAN CO -OPERATIVE BANK LIMITED
              MAIN ROAD EAST FORT GATE, THRIPPUNITHURA
              KERALA., PIN - 682301
              BY ADV DEVAPRASANTH P.J

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
13.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.18959 of 2023
                                      2




                              C.S.DIAS, J.
                -------------------------
                       W.P.(C.) No.18959 of 2023
                -------------------------
            Dated this the 13th day of June, 2023

                             JUDGMENT

The writ petition is filed to direct the

respondent to permit the petitioner to pay off the

overdue amount in instalments and to regularise

the loan account.

2. The petitioner's case is that, she had

availed a housing loan from the respondent bank

for a period of ten years till 2031 by creating an

equitable mortgage. Due to Covid-19 pandemic

and personal reasons, the petitioner could not pay

the instalments on time. The respondent is now

proceeding against the secured asset under the

Securitisation and Reconstruction of Financial

Assets and Enforcement of Security Interest Act, WPC No.18959 of 2023

2002 (in short 'Act'). The petitioner is now

prepared to pay the overdue amount in

instalments. Hence, the writ petition.

3. Heard; Sri.M.R.Sasith, the learned Counsel

appearing for the petitioner and Sri.Devaprasanth

M.J., the learned Counsel appearing for the

respondent.

4. Sri.Devaprasanth M.J., on instructions,

submitted that as on today the overdue amount is

Rs.1,83,546/-. The respondent is ready to permit

the petitioner to pay the overdue amount in six

instalments. The said submission is recorded.

5. The learned Counsel appearing for the

petitioner submitted that the petitioner is a lady

and tenure of the loan would expire only in 2031.

Hence, the petitioner may be granted fifteen

instalments to pay the overdue amount.

6. Having considered the pleadings and

materials on record and the submission made by WPC No.18959 of 2023

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 respondent is directed to defer further

proceedings pursuant to Annexure A1, to enable

the petitioner to pay off the overdue amount in

instalments.

(ii) The petitioner is permitted to pay the

overdue amount as stated above with future

interest and costs to the respondent bank in

twelve equated monthly instalments commencing

from 13.07.2023, along with regular EMIs.

(iii) Needless to mention, if the petitioner WPC No.18959 of 2023

commits default of the condition ordered above,

she would lose the benefit of this judgment and

the respondent 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.18959 of 2023

APPENDIX OF WP(C) 18959/2023

PETITIONER'S ANNEXURES:

ANNEXURE-A1 THE TRUE COPY OF THE SALE NOTICE DATED 12-01-

RESPONDENT'S EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE