Gopidasan K vs Bank Of Baroda
2023 Latest Caselaw 7370 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                       THE HONOURABLE MR.JUSTICE C.S.DIAS
            TUESDAY, THE 27TH DAY OF JUNE 2023 / 6TH ASHADHA, 1945
                             WP(C) NO. 20757 OF 2023
PETITIONER:

              GOPIDASAN K,
              AGED 68 YEARS
              S/O GOPALAN, NIRMALAYAM (H),
              NEAR THOTTADA WEST U P SCHOOL THOTTADA,
              KANNUR KERALA, PIN - 670007
              BY ADV AJITH M. JIJI

RESPONDENT:

              BANK OF BARODA,
              REPRESENTED BY THE AUTHORIZED OFFICER,
              FORT ROAD, CANNANORE BRANCH,
              MM SQUARE KANNUR, PIN - 670001
              SRI ANEESH K

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
27.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.20757 of 2023
                                     2




                              C.S.DIAS, J.
                -------------------------
                       W.P.(C.) No.20757 of 2023
                -------------------------
            Dated this the 27th day of June, 2023

                             JUDGMENT

The writ petition is filed to direct the

respondent to permit the petitioner to pay the

overdue amount in instalments and regularise the

loan accounts.

2. The petitioner had availed financial

assistance from the respondent - Bank - by

creating an equitable mortgage. Due to

unforeseen circumstances, the petitioner could

not pay the instalments on time. The respondent

has initiated proceedings against the secured

asset under the Securitization and

Reconstruction of Financial Assets and

Enforcement of Security Interest Act (in short, WPC No.20757 of 2023

'Act'). The petitioner is ready to pay the overdue

amount in equated monthly instalments. Hence,

the writ petition.

3. Heard; Sri.Ajith M. Jiji, the learned

counsel appearing for the petitioner and

Sri.Aneesh K., the learned counsel appearing for

the respondent.

4. Sri.Aneesh K., on instructions,

submitted that as on 26.06.2023 the overdue

amount is Rs.3,62,958/-. On earlier occasion also

the petitioner had approached the respondent

bank for regularising the loan account. Even

though the same was granted, he did not pay the

instalments on time. The loan account has been

classified as Non-Performing Asset (NPA).

Nonetheless, the respondent bank is willing to

permit the petitioner to pay off the overdue

amount in four equated monthly instalments. The

said submission is recorded.

WPC No.20757 of 2023

5. The learned counsel appearing for the

petitioner submitted that the petitioner is ready

to accept the above offer. But may be permitted

to pay the above amount in ten instalments.

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 respondent is directed to defer

further coercive proceedings pursuant to Ext.P1

to enable the petitioner to pay the liability in

equated monthly instalments as stated below. WPC No.20757 of 2023

(ii) The petitioner is permitted to pay the

overdue amount as stated above with future

interest and cost to the respondent - Bank - in six

equated monthly instalments commencing from

27.07.2023 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 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/27-06 WPC No.20757 of 2023

APPENDIX OF WP(C) 20757/2023

PETITIONER'S EXHIBITS:

EXHIBIT -P1 TRUE COPY OF THE SAID POSSESSION NOTICE DATED 29.04.2022 ISSUED ON THE PETITIONER BY THE RESPONDENT BANK EXHIBIT -P2 TRUE COPY OF THE REQUEST LETTER DATED 15.06.2023 SUBMITTED BY THE PETITIONER TO THE RESPONDENT RESPONDENT'S EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE