Sanjay Krishnan P vs Union Bank Of India
2023 Latest Caselaw 5520 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. 14936 OF 2023
PETITIONER/S:

    1       SANJAY KRISHNAN P
            AGED 37 YEARS
            PILAPPADI HOUSE, ACHIKANAM P.O., ANANDASHRAMAM,
            AMBALATHARA VILLAGE, KANHANGAD, PIN - 671531
    2       SHOBANA P.,
            AGED 58 YEARS, PILAPPADI HOUSE, ACHIKANAM P.O.,
            ANANDASHRAMAM, AMBALATHARA VILLAGE, KANHANGAD, PIN -
            671531
            BY ADVS.
            AJI V.DEV
            ALAN PRIYADARSHI DEV
            S.SAJEEVAN


RESPONDENT/S:

    1       UNION BANK OF INDIA
            REGIONAL OFFICE, KOZHIKODE, KSHB COMPLEX, VIKAS NAGAR,
            CHAKKORATHUKULAM, KOZHIKODE, REPRESENTED BY ITS
            REGIONAL MANAGER, PIN - 673006
    2       THE AUTHORISED OFFICER,
            UNION BANK OF INDIA, REGIONAL OFFICE, KOZHIKODE, KSHB
            COMPLEX, VIKAS NAGAR, CHAKKORATHUKULAM, KOZHIKODE, PIN
            - 673006
    3       THE BRANCH MANAGER,
            UNION BANK OF INDIA, KANHANGAD BRANCH, SUNDER RATNA
            COMPLEX, KANHANGAD, PIN - 671315



            SRI. A.S.P. KURUP-SC


     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. 14936 OF 2023                2



                                  JUDGMENT

Petitioners had availed a home loan and business loans

from the 1st respondent bank. Since the petitioners defaulted

repayment, the bank initiated proceedings under the

SARFAESI Act. Ext.P1 is the possession notice and Ext.P2 is

the sale notice dated 30.03.2023. Petitioners have filed this

writ petition challenging the steps initiated by the

respondent bank to recover the amounts due from them.

2. When this matter is taken up for consideration

today, learned counsel appearing for the respondent bank,

on instructions, submits that the total overdue amount, as of

now, is Rs.9,84,541/- (Rupees Nine lakhs eighty four

thousand five hundred and forty one only). It is submitted

that the sale is scheduled to be held on 11.05.2023 and that

if an amount of Rs.1,00,000/- (Rupees One lakh only) is paid

on or before 10.05.2023 and the balance amount in nine

equated monthly instalments with regular EMIs, the loan

account can be regularised.

3. Learned counsel appearing for the petitioners

submits that the petitioners are willing to remit the amount

as aforesaid.

4. Having regard to the circumstances of the case

and the submissions made as above, I am of the view that the

petitioners can be granted an opportunity to repay the

overdue amount in instalments and thereafter, if the amount

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

loan account regularised.

5. Accordingly, the writ petition is disposed of with

the following directions:-

(i) Petitioners shall remit an amount of Rs.1,00,000/- (Rupees One lakh only) on or before 10.05.2023;

(ii) The balance overdue amount of Rs.8,84,541/- (Rupees Eight lakhs eighty four thousand five hundred and forty one only) along with any accrued interest and charges shall be repaid in nine equated monthly instalments and the first instalment shall be paid on or before 01.07.2023 and the subsequent instalments shall be paid on the 1st day of each succeeding month;

(iii)Petitioners shall continue to pay the regular EMIs along with the instalments directed above;

(iv)In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law;

(v) To facilitate the petitioners to pay the amounts as aforesaid, the proceedings initiated by the bank pursuant to Ext.P2 shall be kept in abeyance.

Sd/-

MURALI PURUSHOTHAMAN JUDGE ajt

APPENDIX OF WP(C) 14936/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 2ND RESPONDENT DATED 15.02.2023 Exhibit P2 TRUE COPY OF THE SALE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 30.03.2023 Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT DATED 19.04.2023