Johnson P vs The Authorized Officer
2023 Latest Caselaw 6966 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                   THE HONOURABLE MR.JUSTICE C.S.DIAS
        THURSDAY, THE 22ND DAY OF JUNE 2023 / 1ST ASHADHA, 1945
                        WP(C) NO. 20410 OF 2023
PETITIONER/S:

            JOHNSON P
            AGED 36 YEARS
            S/O. PRAKASHAN, PAIMELIL PURAYIDOM, VRA NAGAR 30 NEAR
            DISTRICT HOSPITAL, KOLLAM - ., PIN - 691001

            BY ADVS.
            BIJU .C. ABRAHAM
            THOMAS C.ABRAHAM



RESPONDENT/S:

    1       THE AUTHORIZED OFFICER
            UNION BANK OF INDIA, KOLLAM CIVIL STATION BRANCH,
            DEVAPRIYA COMPLEX, HIGH SCHOOL JUNCTION, KOLLAM - .,
            PIN - 691009

    2       UNION BANK OF INDIA
            KOLLAM CIVIL STATION BRANCH, DEVAPRIA COMPLEX, HIGH
            SCHOOL JUNCTION, KOLLAM REPRESENTED BY BRANCH MANAGER,
            PIN - 691009


OTHER PRESENT:

            SRI A S P KURUP




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 20410 OF 2023
                                2

                          JUDGMENT

The writ petition is filed to direct the respondents

to permit the petitioner to pay off the overdue amount

in instalments.

2. The petitioner had availed a housing loan from

the respondent - Bank - by creating an equitable

mortgage. Due to unforeseen circumstances, the

petitioner 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

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

ready to pay the overdue amount in equated monthly

instalments. Hence, the writ petition.

3. Heard; Sri.Biju C.Abraham, the learned

counsel appearing for the petitioner and Sri.ASP.Kurup,

the learned counsel appearing for the respondents.

4. Sri.ASP. Kurup, on instructions, submitted that

as on 22.06.2023 the overdue amount is Rs.5,33,441/-.

The tenure of the loan is till 2038. The respondents are WP(C) NO. 20410 OF 2023

willing to permit the petitioner to pay off the overdue

amount in ten equated monthly instalments. The said

submission is recorded.

5. The learned counsel appearing for the

petitioner submitted that as the tenure of the loan is till

2038, the petitioner may be granted atleast twelve

installments to pay the overdue amount.

6. Having considered the pleadings and

materials on record, the submissions made by the

learned counsel appearing for the parties, the

consensus arrived at between the parties and to

provide the petitioner one last opportunity to clear off

the liability, I am inclined to exercise the powers of this

Court under Article 226 of the Constitution of India and

entertain 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. P1 to enable WP(C) NO. 20410 OF 2023

the petitioner to pay the liability in equated

monthly instalments as stated below.

(ii) The petitioner is permitted to pay the overdue

amount as stated above with future interest and

cost to the 2nd respondent - Bank - in 12 equated

monthly instalments commencing from 22.07.2023

along with regular EMIs.

(iii) Needless to mention, if the petitioner commits

default in any of the conditions ordered above, the

petitioner 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

extension of time shall be entertained.

Sd/-

C.S.DIAS JUDGE rkc/22.06.23 WP(C) NO. 20410 OF 2023

APPENDIX OF WP(C) 20410/2023

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE SALE NOTICE DATED 2/6/2023 ISSUED BY THE RESPONDENTS TO THE PETITIONER