Renny Joseph vs Kerala Gramin Bank
2024 Latest Caselaw 11792 Ker

Kerala High Court

Renny Joseph vs Kerala Gramin Bank on 30 April, 2024

Author: Kauser Edappagath

Bench: Kauser Edappagath

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
           THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
     TUESDAY, THE 30TH DAY OF APRIL 2024 / 10TH VAISAKHA, 1946
                       WP(C) NO. 16680 OF 2024
PETITIONERS:

    1     RENNY JOSEPH
          AGED 46 YEARS
          S/O.JOSEPH, KAVATTU KUNNEL, ATHUR, NEDUMPOIL POST,
          KANNUR DISTRICT, PIN - 670650
    2     JESI JOHN
          AGED 37 YEARS
          W/O.RENNY JOSEPH, ATHUR, NEDUMPOIL POST,
          KANNUR DISTRICT, PIN - 670650
          BY ADV V.T.MADHAVANUNNI
RESPONDENTS:

    1     KERALA GRAMIN BANK
          PERAVOOR BRANCH, KOTTIYOOR ROAD,
          PERAVOOR POST, KANNUR DISTRICT REPRESENTED BY ITS CHIEF
          MANAGER, PIN - 670673
    2     AUTHORISED OFFICER,
          KERALA GRAMIN BANK, THE REGIONAL OFFICE,
          KANNUR, PIN - 670002
          SRI. JAWAHAR JOSE- SC
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 16680 OF 2024

                                    2




                                 JUDGMENT

The petitioners are challenging the recovery proceedings

initiated against them under the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002. The petitioners have availed a credit facility

from the respondent Bank and consequent to the default

committed by them in repaying the amount, the said account is

declared as NPA. Accordingly, recovery proceedings have been

initiated which is impugned in this writ petition.

2. Heard.

3. The learned counsel appearing for the Bank submits

that as on date, an amount of Rs.9,15,368/- is in outstanding. It

is submitted by the learned counsel for the Bank upon

instructions that they are amenable for granting an opportunity

to the petitioners to repay the said amount in reasonable

monthly instalments.

In such circumstances, this writ petition is disposed of

granting an opportunity to the petitioners to clear the entire

amount along with interest, in 15 equal monthly instalments WP(C) NO. 16680 OF 2024

commencing from 01.06.2024 onwards. The subsequent

instalments shall be paid by the petitioners on 5th day of every

month. In case of default on the part of the petitioners in

payment of any of the instalments, the aforesaid facility shall

stand cancelled, upon which the Bank will be at liberty to

proceed with the recovery proceedings. Subject to the above

direction, the recovery proceedings against the petitioners are

directed to be kept in abeyance.

Sd/-

DR. KAUSER EDAPPAGATH JUDGE NP WP(C) NO. 16680 OF 2024

APPENDIX OF WP(C) 16680/2024

PETITIONERS' EXHIBITS Exhibit P1 A TRUE COPY OF THE SALE NOTICE IN REF.NO.KGB/ROKN2/SARFAESI/SALE/102/2024

RESPONDENTS' EXHIBITS: NIL