Sidheeq K C vs The Tirur Urban Co-Operative Bank ...
2023 Latest Caselaw 11280 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 27TH DAY OF OCTOBER 2023 / 5TH KARTHIKA, 1945
                       WP(C) NO. 30960 OF 2023
    MC 341/2023 OF CHIEF JUDICIAL MAGISTRATE ,MANJERI
PETITIONER:

               SIDHEEQ K C
               AGED 54 YEARS
               S/O MOHAMMED KUTTY @ BAPPU, KARINGAPPARA,
               CHERUKUZHIYL HOUSE, PUNNATHALA POST,
               VALANCHERY, MALAPPURAM DISTRICT., PIN - 676552
               BY ADVS.
               BINU V V VEETTIL VALAPPIL
               P.J.STEPHEN


RESPONDENTS:

    1          THE TIRUR URBAN CO-OPERATIVE BANK LTD.,
               NO.F.1818, VETTICHIRA BRANCH
               POPULAR BUILDING, N.H. ROAD, VETTICHIRA,
               PUNNATHALA POST, MALAPPURAM DISTRICT.,
               REPRESENTED ITS BRANCH MANAGER., PIN - 676552
    2          THE BRANCH MANAGER
               TIRUR URBAN CO-OPERATIVE BANK LTD NO.F.1818,
               VETTICHIRA BRANCH, POPULAR BUILDING, N.H. ROAD,
               VETTICHIRA, PUNNATHALA POST,
               MALAPPURAM DISTRICT., PIN - 676552
               SRI.P.C.SASIDHARAN

        THIS    WRIT   PETITION    (CIVIL)   HAVING    COME    UP    FOR
ADMISSION       ON   27.10.2023,    THE   COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) NO. 30960 OF 2023
                                     ..2..




                           N.NAGARESH, J.
                ---------------------------------------------
                     W.P.(C) No.30960 of 2023
                ----------------------------------------------
              Dated this the 27th day of October, 2023

                        JUDGMENT

The petitioner availed a loan of Rs.8,50,000/- from the

respondent-Bank. The petitioner states that he was regularly

repaying the loan installments.

2. Due to certain health issues, the petitioner could

not do any work and therefore the loan repayment was

defaulted. The respondents initiated proceedings under the

SARFAESI Act, 2002 and coercive steps are being taken

against the petitioner. The petitioner submits that if a breathing

time is granted, the petitioner will be able to clear the overdue

amount within a reasonable time.

3. Standing Counsel entered appearance and

resisted the writ petition. The Standing Counsel submitted WP(C) NO. 30960 OF 2023 ..3..

that the total outstanding amount payable by the petitioner

would be Rs.10,14,684/- and the overdue amount would itself

be approximately Rs.5,97,747/-. If the petitioner makes a bulk

payment, a breathing time can be granted to the petitioner to

clear the overdues.

4. Heard both sides.

5. When the writ petition came up for admission, this

Court passed an interim order on 21.09.2023, directing the

petitioner to deposit an amount of Rs.3 lakhs on or before

10.10.2023. The petitioner submits that he could not deposit

that amount within the stipulated time due to financial

difficulties.

6. Taking into consideration the facts of the case, I am

inclined to grant the petitioner some time to clear the dues.

7. The writ petition is therefore disposed of with the

following directions:

(i) The petitioner shall remit an amount of Rs. 2 lakhs on WP(C) NO. 30960 OF 2023 ..4..

or before 30.11.2023.

(ii) The renaming overdue amount along with any

accrued interest and administrative charges, if any,

shall be paid in 6 consecutive Monthly Installments

immediately thereafter.

(iii) In case the petitioner commits any default in paying

any of the installments as directed above, the

respondents will be at liberty to proceed against the

petitioner in accordance with law.

(iv) Needless to say, the petitioner shall remit the current

monthly installments along with the installments as

directed above.

Sd/-

N.NAGARESH, JUDGE

AS WP(C) NO. 30960 OF 2023 ..5..

APPENDIX OF WP(C) 30960/2023

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE DEMAND NOTICE ISSUED TO THE PETITIONER BY THE ADVOCATE COMMISSIONER, DATED 04/09/23.