Aji S vs Authorised Officer, Axis Bank
2024 Latest Caselaw 9377 Ker

Kerala High Court

Aji S vs Authorised Officer, Axis Bank on 3 April, 2024

Author: N.Nagaresh

Bench: N.Nagaresh

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                        PRESENT
         THE HONOURABLE MR.JUSTICE N.NAGARESH
 WEDNESDAY, THE 3RD DAY OF APRIL 2024 / 14TH CHAITHRA,
                         1946
                WP(C) NO. 41938 OF 2023
PETITIONER/S:

         AJI S
         AGED 45 YEARS
         S/O.SASIDHARAN TC 527888, KS BHAVAN,
         KAVUVILA, KOLIYAKODE ESTATE, TRIVANDRUM., PIN
         - 695571
         BY ADV LIZA P.CHERIAN


RESPONDENT/S:

         AUTHORISED OFFICER, AXIS BANK
         REGISTERED OFFICE AT TRISSULA, OPPOSITE
         SAMARETESHWAR TEMPLE, NIHAL COMPLEX, SECOND
         FLOOR, KARAMANA, THIRUVANANTHAPURAM., PIN -
         695002
         BY ADVS.
         Madhu Radhakrishnan
         NELSON JOSEPH(K/380/2007)
         M.D.JOSEPH(K/839/2008)
         DEEPAK ASHOK KUMAR(K/1624/2018)
         SRI MADHU RADHAKRISHNAN

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 03.04.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
 W.P(C).41938/2023                                  2


                              N. NAGARESH, J.
                               ----------------------------
                            W.P.(C) No.41938 of 2023
                    --------------------------------------------------
                       Dated this the 3rd day of April, 2024


                                JUDGMENT

The petitioner has approached this Court when the Axis

Bank initiated recovery proceedings invoking the provisions of

the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002. The petitioner

prays that he may be granted short time for paying the arrears

of housing loan.

2. When this Writ Petition came up for admission, this

Court passed an interim order to the following effect:

'The petitioner submits that the petitioner is trying for private sale in order to settle the entire outstanding amount to the Bank.

2. The petitioner seeks stay of further coercive proceedings. Standing Counsel submits that the outstanding amount is ₹19,11,260/- and overdue amount comes to ₹3,71,030/-. If the petitioner clears the overdue amount forthwith, the question of regularisation of account can be considered.

3. The petitioner to get instructions.

4. Post on 08.01.2024.

In the meanwhile, there will be an interim order staying further proceedings against the petitioner for a period of one month on condition that the petitioner remits an amount of ₹75,000/- on or before 05.01.2024.'

3. The counsel for the petitioner submits that inspite of

earnest efforts, the petitioner could not remit the amount of

Rs.75,000/- as directed by this Court.

4. In view of the above, no further relief can be granted

to the petitioner.

The Writ Petition is therefore disposed of granting liberty

to the petitioner to approach the Bank for any further

arrangement of the loan account.

Sd/-

N.NAGARESH JUDGE Sbna/

APPENDIX OF WP(C) 41938/2023

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE ADVOCATE COMMISSIONERS NOTICE DATED 30/1/2023