Kerala High Court
Anil K.B vs Kerala Bank, Formerly Known As ... on 27 October, 2023
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. 34135 OF 2023
PETITIONERS:
1 ANIL K.B,
AGED 60 YEARS
S/O KRISHNAN NAIR. S,
SIVODAYAM, ARUVIYODE, MANNANTHALA P.O,
THIRUVANANTHAPURAM- 695015.
2 VIJAYALEKSHMI K.V,
AGED 53 YEARS
W/O ANIL K.B, SIVODAYAM, ARUVIYODE,
MANNANTHALA P.O,
THIRUVANANTHAPURAM, PIN - 695015.
BY ADV RAJITHA V.K
RESPONDENTS:
1 KERALA BANK,
FORMERLY KNOWN AS DISTRICT CO-OPERATIVE BANK,
KESAVADASAPURAM,
THIRUVANANTHAPURAM, PIN - 695004,
REPRESENTED BY ITS BRANCH MANAGER.
2 THE AUTHORIZED OFFICER,
KERALA BANK, DISTRICT CO-OPERATIVE BANK,
NSP NAGAR, KESAVADASAPURAM,
THIRUVANATHAPURAM - 695004.
BY ADV THOMAS ABRAHAM
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 27.10.2023, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C) No.34135 of 2023
:2:
JUDGMENT
Dated this the 27th day of October, 2023
The 1st petitioner had availed a loan of ₹17,00,000/- from
the respondent-Bank in the year 2015. The tenure of loan was
15 years. The petitioners state that they have provided several
security interest for the loan account.
2. The petitioners were prompt in repaying installments at
the initial stage. However, subsequently, due to reasons beyond
the control of the petitioners, remittances could not be made. The
respondents, thereupon, invoked SARFAESI Act and initiated
coercive proceedings.
3. The petitioners state that the petitioners could not
repay the entire amount due to financial difficulties, which were
W.P.(C) No.34135 of 2023
beyond the control of the petitioners. If a breathing time is
granted to the petitioners, they will be able to clear the entire loan
outstanding.
4. Standing Counsel entered appearance and resisted
the writ petition. The Standing Counsel pointed out that what was
sanctioned to the petitioners was a mortgage loan and it was in
the year 2019. It was during a previous recovery proceeding that
the loan was converted as mortgage loan in the year 2019. As on
30.09.2023, the petitioners are liable to pay more than
₹28,49,679/-. The petitioners do not deserve any sympathy.
Nevertheless, if the petitioners make a substantial initial payment,
a breathing time can be granted to the petitioners to repay the
entire outstanding, contended the Standing Counsel representing
the respondents.
5. I have heard the learned Counsel for the petitioners
and the learned Standing Counsel representing the respondents.
W.P.(C) No.34135 of 2023
6. The mortgage loan was of ₹17,00,000/-. From the
pleadings, it appears that the petitioners have remitted initial
installments but defaulted thereafter. As on 30.09.2023, the
outstanding amount is ₹28,49,679/-.
6. Taking into consideration the entire facts and
circumstances of the case, I am of the view that the petitioners
can be granted a short time to clear their dues.
7. In the circumstances, the writ petition is disposed of
with the following directions:
i) The petitioners shall pay an amount of ₹4,00,000/-
(Rupees Four Lakhs Only) within a period of one month.
ii) The remaining balance amount along with accruing
interest and administrative charges, if any, shall be paid within 12
consecutive equal monthly installments, immediately thereafter.
iii) If the petitioners commit any default in remitting the
installments as directed above, the respondents will be at liberty
W.P.(C) No.34135 of 2023
to proceed against the petitioners in accordance with law.
iv) If the petitioners make remittances as directed above,
coercive proceedings, if any, against the petitioners shall be kept
in abeyance.
Sd/-
N. NAGARESH
JUDGE
ams
W.P.(C) No.34135 of 2023
APPENDIX OF WP(C) 34135/2023
PETITIONER EXHIBITS
Exhibit 1 THE PAPER PUBLICATION IN THE
DESHABHIMANI NEWS PAPER DATED 24.03.2022
Exhibit P2 THE BANK STATEMENT OF LOAN ACCOUNT OF
THE PETITIONER
