Unnikrishnan vs The Authorized Officer, The ...
2023 Latest Caselaw 3436 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                  THE HONOURABLE MR. JUSTICE T.R.RAVI
         FRIDAY, THE 24TH DAY OF MARCH 2023 / 3RD CHAITHRA, 1945
                         WP(C) NO. 6107 OF 2023
PETITIONERS:

     1       UNNIKRISHNAN
             AGED 58 YEARS
             S/O CHELLI, AGED 58 YEARS, ASHTATHUMANA COLONY,
             PAVUKONAM, OTTAPALAM TALUK, PALAKKAD DISTRICT,
             PIN - 679522.
     2       JANAKI
             AGED 50 YEARS
             W/O UNNIKRISHNAN, AGED 50 YEARS, ASHTATHUMANA COLONY,
             PAVUKONAM, OTTAPALM TALUK, PALAKKAD DISTRICT,
             PIN - 679522.

             BY ADV K.RAVI (PARIYARATH)


RESPONDENTS:

     1       THE AUTHORIZED OFFICER, THE OTTAPALAM CO-OPERATIVE URBAN
             BANK LTD, F-1647, HEAD OFFICE, MAIN ROAD, OTTAPALAM,
             PALAKKAD DISTRICT, PIN - 679101.
     2       THE BRANCH MANAGER, THE OTTAPALAM CO-OPERATIVE URBAN BANK
             LTD, F-1647, ANANGANDI BRANCH,
             ANANGANDI, OTTAPALAM, PALAKKAD, PIN - 679501.

             BY ADVS.
             VINOD MADHAVAN
             M.V.BOSE(K/8/1967)
             BIJU VARGHESE ERUMALA(B-197)
             SANIYA C.V.(K/749/2021)

             SRI VINOD RAVINRANATH, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6107 OF 2023

                                      2


                                T.R. RAVI, J.
                --------------------------------------------
                       W.P.(C) No.6107 of 2023
                    --------------------------------------------
               Dated this the 24th day of March, 2023

                               JUDGMENT

The prayer in the writ petition is to permit the petitioners

to pay off the amounts outstanding in the loan account availed

from the respondents in easy instalments. The Standing Counsel

on instructions submits that the amount outstanding is

Rs.4,77,419/-.

In the above circumstances, the writ petition is disposed of

directing the petitioners to pay off the amount of Rs.4,77,419/-

along with interest and cost in 12 equal monthly instalments, the

first instalment falling due on or before 24.04.2023 and the

subsequent instalments falling due on or before the 24th of the

succeeding months. If the petitioners make a single default in

the payment of instalments, the respondents will be at liberty to

continue with coercive steps for recovery. The coercive steps WP(C) NO. 6107 OF 2023

initiated shall be kept in abeyance to facilitate the payment of

instalments as directed above.

Sd/-

T.R.RAVI JUDGE mpm WP(C) NO. 6107 OF 2023

APPENDIX OF WP(C) 6107/2023

PETITIONERS' EXHIBITS

Exhibit - P1 TRUE COPY NOTICE ISSUED TO THE PETITIONERS AT THE INSTANCE OF THE 1ST RESPONDENT, UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT,2002, DATED 04.11.22.

Exhibit-P2 TRUE COPY OF THE NOTICE SERVED ON THE PETITIONERS, AT THE INSTANCE OF THE ADV. COMMISSIONER , INTIMATING, ABOUT TAKING OVER POSSESSION OF THE PROPERTY PURSUANT TO THE DIRECTION ISSUED BY THE HON'BLE CJM, PALAKKAD IN M.C. NO. 45/2023, DATED 08.02.23.