Prathibha vs Authorized Officer
2023 Latest Caselaw 5511 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
           THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
       TUESDAY, THE 2ND DAY OF MAY 2023 / 12TH VAISAKHA, 1945
                        WP(C) NO. 14323 OF 2023
PETITIONER/S:

           PRATHIBHA, AGED 45 YEARS
           THAMARATHU HOUSE PAYIMBRA POST KURUVATTOOR VILLAGE
           KOZHIKODE TALUK
           KOZHIKODE VILLAGE KOZHIKODE, PIN - 673571
           BY ADV M.R.SARIN


RESPONDENT/S:

           AUTHORIZED OFFICER
           KERALA STATE CO-OPERATIVE BANK LIMITED KERALA BANK P.B NO
           503 RECOVERY SECTION, KALLAI ROAD PO CHALAPURAM ,
           KOZHIKODE, PIN - 673002
           BY ADV P.C.SASIDHARAN


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 14323 OF 2023      ..2..

                          JUDGMENT

The petitioner's late father had availed an agricultural

loan from the respondent financial institution in the year

2017. Since the regular EMIs were defaulted, the respondent

initiated steps under the SARFAESI Act. Though the

petitioner approached the Bank for time to settle the account,

the Bank did not respond. Ext.P1 is the sale notice issued by

the respondent informing that the secured assets will be

auctioned on 20.04.2023. Aggrieved by the same, the

petitioner has filed this writ petition.

2. When the matter is taken up for consideration, the

learned Standing Counsel for the respondent Bank submitted,

on instructions, that the overdue amount as on today comes

to Rs.23,89,819/- and the respondent is willing to regularise

the account provided the petitioner clears off the overdue

amount in fifteen equated monthly installments along with

regular EMIs.

3. On the basis of the submission made by the learned WP(C) NO. 14323 OF 2023 ..3..

Standing Counsel for the respondent Bank as well as the

learned counsel for the petitioner. I am of the view that the

petitioner can be granted an opportunity to repay the overdue

amount in installments and thereafter, if the amount so

directed is repaid within the time as directed, to have the

loan account regularised.

4. Accordingly, there will be a direction to the petitioner

to clear off the entire overdue amount of Rs.23,89,819/- in

fifteen equated monthly installments, commencing from

01.06.2023, along with regular EMIs. In case the petitioner

defaults payment of any one of the installments as aforesaid,

the respondent will be free to proceed in accordance with

law. In order to enable the petitioner to repay the amounts as

above, coercive steps shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

                              MURALI PURUSHOTHAMAN
                                      JUDGE
SB
 WP(C) NO. 14323 OF 2023     ..4..

                            APPENDIX

PETITIONER EXHIBITS

Exhibit P1        THE TRUE COPY OF THE AUCTION NOTICE ISSUED BY

THE RESPONDENT UNDER SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 DATED ON 13.3.2023