Prema Kumari vs The Ottapalam Co-Operative Urban ...
2023 Latest Caselaw 5851 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
                THE HONOURABLE MR.JUSTICE C.S.DIAS
    WEDNESDAY, THE 24TH DAY OF MAY 2023 / 3RD JYAISHTA, 1945
                      WP(C) NO. 15785 OF 2023
PETITIONER:

          PREMA KUMARI
          AGED 52 YEARS
          W/O.MOHANAN, THEKKETHIL HOUSE,
          AKALOOR, PALAKKAD DISTRICT,
          PIN - 679302

          BY ADV K.RAKESH


RESPONDENT:

          THE OTTAPALAM CO-OPERATIVE URBAN BANK LTD.
          OTTAPALAM, PALAKKAD DISTRICT,
          REPRESENTED BY ITS AUTHORIZED OFFICER,
          PIN - 679601

          ADV. VINODH MADAHAVAN



      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.15785/2023

                                      -:2:-




                       Dated this the 24th day of May,2023

                             JUDGMENT

The writ petition is filed to direct the respondent -

Bank - to permit the petitioner to pay the overdue

amount in equated monthly instalments.

2. The petitioner's case is that he had availed a

loan of Rs.2,50,000/- from the respondent by creating an

equitable mortgage. Due to circumstances beyond his

control, he could not pay the loan amount. Now, Ext P2

notice has been issued by an Advocate Commissioner to

take possession of the property under the Securitization

and Reconstruction of Financial Assets and Enforcement

of Security Interest Act. The petitioner is prepared to pay

off the overdue amount in equated monthly instalments.

Hence, the writ petition.

3. Heard; Sri. K. Rakesh, the learned counsel

appearing for the petitioner and Sri. Vinodh Madhavan, W.P.(C)No.15785/2023

the learned counsel appearing for the respondent - Bank.

4. Sri. Vinodh Madhavan, on instructions,

submitted that an amount of Rs.3,22,355/- is overdue

from the petitioner. The respondent is prepared to

accept the overdue amount in six equated monthly

instalments. The said submission is recorded. The

learned counsel for the petitioner has accepted the

above conditions of the respondent.

5. Having considered the pleadings and materials

on record, and in the light of the submission made by the

learned counsel appearing for parties, to provide the

petitioner one last opportunity, I am inclined to exercise

the powers of this Court under Article 226 of the

Constitution of India and dispose of the writ petition.

Resultantly, I dispose of the writ petition in the

following manner:

(i) The respondent is directed to defer further proceedings pursuant to Ext P2 notice, to enable W.P.(C)No.15785/2023

that the petitioner to discharge the loan amount.

(ii) The petitioner is permitted to pay off the overdue amount with interest and costs in six equated monthly instalments commencing from 01.07.2023, along with regular EMIs.

(iii) Needless to mention, if the petitioner commits default in respect of any of the conditions ordered above, he will lose the benefit of this judgment and the respondents would be at liberty to proceed with recovery proceedings from the stage it presently stands.

(iv) It is made clear that, no further application for modification/extension of time shall be entertained.

Sd/-

                                         C.S.DIAS,JUDGE

DST/24.05.23                                               //True copy//

                                                           P.A.To Judge
 W.P.(C)No.15785/2023






                              APPENDIX


PETITIONER EXHIBITS
EXHIBIT P1          TRUE COPY OF THE DEMAND NOTICE ISSUED BY

THE RESPONDENT DEMANDING RS.1,39,580/- DATED, NIL

EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN M.C.NO.197/2023 OF THE C.J.M., PALAKKAD DATED, 2-5-2023

EXHIBIT P3 A TRUE COPY OF THE RELEVANT PAGES OF THE RATION CARD ISSUED BY THE CIVIL SUPPLIES DEPARTMENT TO THE PETITIONER

RESPONDENT'S EXHIBITS: NIL