Narendran M.R vs The Authorized Officer
2023 Latest Caselaw 5526 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. 14385 OF 2023
PETITIONER/S:

          NARENDRAN M.R
          AGED 62 YEARS
          NISHA BHAVANAM, MAROOR POST, ENADIMANGALAM VILLAGE,
          ADOOR TALUK, PATHANAMTHITTA DISTRICT, KERALA, PIN -
          691524
          BY ADV M.R.SASITH


RESPONDENT/S:

          THE AUTHORIZED OFFICER, CANARA BANK
          KONNI BRANCH, KARTHIKA BUILDING, MAIN ROAD, KONNI,
          PATHANMTHITTA DISTRICT, KERALA, PIN - 686691



          SRI. M. GOPIKRIHNAN NAMBIAR-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. 14385 OF 2023                   2



                               JUDGMENT

Petitioner availed a loan from the respondent bank.

Since the petitioner defaulted repayment of the loan, the

bank initiated proceedings under the SARFAESI Act. Ext.P1

is the possession notice. Petitioner has approached this

Court, challenging Ext.P1 and for regularisation of the loan

account.

2. When this matter is taken up for consideration

today, learned counsel appearing for the respondent bank,

on instructions, submits that the overdue amount, as on

today (02.05.2023), is Rs.88,910/- (Rupees Eighty eight

thousand nine hundred and ten only) and that the bank is

willing to regularise the account provided the petitioner pays

the overdue amount along with regular EMIs in six equated

monthly instalments commencing from 01.06.2023.

3. Learned counsel appearing for the petitioner

submits that the petitioner is willing to remit the amount as

aforesaid.

4. Having regard to the circumstances of the case

and in the light of the submissions made by the learned

counsel appearing for the petitioner as well as the learned

counsel appearing for the bank, I am of the view that the

petitioner 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) The overdue amount of Rs.88,910/- (Rupees Eighty eight thousand nine hundred and ten only) along with any accrued interest and charges shall be repaid in six equated monthly instalments and the first instalment shall be paid on or before 01.06.2023 and the subsequent instalments shall be paid on the 1st day of each succeeding month;

(ii)Petitioner shall continue to pay the regular EMI's along with the instalments directed above;

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

(iv) To facilitate the petitioner to pay the amounts as aforesaid, the proceedings initiated by the bank pursuant to Ext.P1 shall be kept in abeyance.

Sd/-

MURALI PURUSHOTHAMAN JUDGE ajt

APPENDIX OF WP(C) 14385/2023

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 23.03.2023