S S Sali vs The Authorised Officer
2023 Latest Caselaw 5687 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. 15697 OF 2023
PETITIONER:

     1        S S SALI
              AGED 32 YEARS
              D/O SOBHAVANA, KOZHODE, KUZHIVILAKATHU VEEDU, THANNIMOODU
              PO, THIRUVANANTHAPURAM, PIN - 695123
     2        K SIMON
              AGED 60 YEARS
              S/O KUNJUKRISHAN NADAR, KOZHODE, KUZHIVILAKATHU VEEDU,
              THANNIMOODU PO, THIRUVANANTHAPURAM, PIN - 695123

              BY ADV LIJU. M.P


RESPONDENTS:

     1        THE AUTHORISED OFFICER
              THE NEYYATTINKARA CO-OPERATIVE URBAN BANK LTD.931,
              NEYYATTINKARA PO,THIRUVANANTHAURAM, PIN - 695121.

     2        THE NEYYATTINKARA CO-OPERATIVE URBAN BANK LTD.931,
              BALARAMAPURAM M & E BRANCH,NEYYATTINKARA
              PO,THIRUVANANTHAURAM REPRESENTED BY ITS BRANCH MANAGER,
              PIN - 695121
              SRI.R.T.PRADEEP    SC
     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. 15697 OF 2023
                                    2



                              JUDGMENT

The petitioner has availed two term of loan

from the respondent bank. Since the petitioner

committed default in repayment, the respondent

bank initiated steps under the SARFAESI Act and

Ext.P2 is the notice issued by the Advocate

Commissioner, informing the petitioner that the

secured assets will be taken possession of, on

14.03.2023. 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 submits, on instructions,

that the overdue amount as on today comes to

Rs.7,75,000/- and respondent bank is willing to

regularise the account provided the petitioner

clears off the overdue amount in 10 equated WP(C) NO. 15697 OF 2023

monthly instalments along with regular EMIs.

3. On the basis of the submission made by

the learned 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 instalments and thereafter, if

the amount is repaid within the time as directed

above, to have the loan account regularised.

Accordingly, there will be a direction to the

petitioner to pay an amount of Rs.1,50,000/- on

or before 31.05.2023 and the balance of the

outstanding overdue shall be paid in 10 equal

installments, along with regular EMI. In case the

petitioner defaults payment of any one of the

installments as aforesaid, the respondent will be

free to proceed with, in accordance with law. In

order to enable the petitioner to repay the WP(C) NO. 15697 OF 2023

amounts as above, coercive steps shall be kept in

abeyance.

The writ petition is disposed of as above.

Sd/-

SHOBA ANNAMMA EAPEN JUDGE SAS WP(C) NO. 15697 OF 2023

APPENDIX OF WP(C) 15697/2023

PETITIONER'S EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 16.12.21 ISSUED BY THE 1ST RESPONDENT Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN MC NO.193/23 ON THE FILE OF CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM DATED 25.04.23 TO THE 1ST PETITIONER