Abhin A vs The Authorised Officer
2023 Latest Caselaw 5678 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
   TUESDAY, THE 16TH DAY OF MAY 2023 / 26TH VAISAKHA, 1945
                    WP(C) NO. 15229 OF 2023
PETITIONER/S:

    1     ABHIN A.,
          AGED 32 YEARS
          S/O. V.K. ASHOKAN, RESIDING AT VAKACHERIKKAL HOUSE,
          VANDANAM, PO., VENGALAM, KOZHIKODE-, PIN - 673307
    2     V.K. ASHOKAN
          AGED 67 YEARS
          S/O. KUNHIRAMAN, RESIDING AT VAKACHERIKKAL HOUSE,
          VANDANAM, PO., VENGALAM, KOZHIKODE, PIN - 673307
    3     E. SREEMATHI,
          AGED 55 YEARS
          W/O. ASHOKAN, RESIDING AT VAKACHERIKKAL HOUSE,
          VANDANAM, PO., VENGALAM, KOZHIKODE, PIN - 673307
          BY ADVS.
          P.A.HARISH
          V.V.SURENDRAN


RESPONDENT/S:

    1     THE AUTHORISED OFFICER
          THE CANARA BANK, KATTILPEEDIKA BRANCH, KAIRALI
          COMPLEX, PO. VENGALAM, KOZHIKODE, PIN - 673303
    2     THE BRANCH MANAGER
          CANARA BANK, KATTILPEEDIKA BRANCH, KAIRALI COMPLEX,
          PO. VENGALAM, KOZHIKODE-, PIN - 673303
          BY ADV SHRI.M.GOPIKRISHNAN NAMBIAR, SC, CANARA BANK


THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 16.05.2023, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
 WP(C) No.15229/2023
                                         2

                                   JUDGMENT

The petitioners have availed a cash credit loan

from the 2nd respondent Bank. On committing default

in repayment, the respondent bank initiated recovery

proceedings against the petitioners. Aggrieved by the

issuance of notice under Section 13(2) the SARFAESI

Act, 2002, the petitioner has approached this Court

with the above writ petition.

2. During the course of hearing, the petitioners

have confined the relief to an opportunity for repaying

the outstanding amount in instalments.

3. It was submitted on behalf of the respondent

bank that the petitioners committed default in

repayment and the outstanding amount as on

15.05.2023 is Rs.22,24,245/- (Rupees Twenty Two

Lakh Twenty Four Thousand Two Hundred and Forty

Five only). It was further submitted that the

respondent bank is willing to accept repayment of the

outstanding amount in limited instalments.

4. I have heard the learned counsel for the

petitioners and the learned counsel for the respondent WP(C) No.15229/2023

bank.

5. Having regard to the circumstances of the

case and the situation now prevailing, apart from the

submissions made as recorded above, I am of the view

that the petitioners can be granted an opportunity to

repay the outstanding amount in 10 instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.22,24,245/- (Rupees Twenty

Two Lakh Twenty Four Thousand Two Hundred and

Forty Five only) along with bank charges from the

petitioners on the following conditions:

(i) The petitioners are directed to repay the

outstanding amount of Rs.22,24,245/- (Rupees Twenty

Two Lakh Twenty Four Thousand Two Hundred and

Forty Five only) in 10 equated monthly instalments,

the first of which shall be paid on or before

15.06.2023.

(ii) In the event of default of any one instalment,

the respondent bank shall be entitled to proceed in

accordance with law.

WP(C) No.15229/2023

(iv) In order to enable the petitioners to repay the

entire amounts, all coercive proceedings shall be kept

in abeyance.

The writ petition is disposed of, as above.

sd/-

SHOBA ANNAMMA EAPEN JUDGE

Nsd WP(C) No.15229/2023

APPENDIX OF WP(C) 15229/2023

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE DATED 01.02.2023 ISSUED BY THE 1ST RESPONDENT