Sakir Hussain vs The Managing Director
2024 Latest Caselaw 5251 Ker

Citation : 2024 Latest Caselaw 5251 Ker
Judgement Date : 15 February, 2024

Kerala High Court

Sakir Hussain vs The Managing Director on 15 February, 2024

Author: V Raja Vijayaraghavan

Bench: V Raja Vijayaraghavan

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                  PRESENT

              THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V

      THURSDAY, THE 15TH DAY OF FEBRUARY     2024 / 26TH MAGHA, 1945

                          WP(C) NO. 4503 OF 2024

PETITIONER:

                SAKIR HUSSAIN, AGED 53 YEARS,S/O ABU
                AYISHA MANZIL, AALIYIRAKKAM,   VARKKALA,
                THIRUVANANTHAPURAM, PIN - 695141

                BY ADVS.NIKITA NAIR C.S.,
                T.G.SUNIL (PERUMBAVOOR)
                M.A.KASIM
                SYAM K.P.
                ASHISH GOPAL K.G
                S.S.BIMAL
                ALIF K.S.

RESPONDENTS:

       1        THE MANAGING DIRECTOR, KERALA STATE FINANCIAL
                ENTERPRISES LTD.
                REGISTERED OFFICE AT "BHADHRATHA"
                P.B NO-510, MUSEUM ROAD,
                CHEMBOOKAAVU, THRISSUR, PIN - 680020

       2        THE KERALA STATE FINANCIAL ENTERPRISES
                LIMITED(KSFE),
                REPRESENTED BY ITS BRANCH MANAGER
                GOPAL BUILDING, UNDER PASSAGE ROAD,
                VARKALA, THIRUVANANTHAPURAM, PIN - 695141

       3        THE BRANCH MANAGER,
                KERALA STATE FINANCIAL ENTERPRISES LTD.
                GOPAL BUILDING, UNDER PASSAGE ROAD, VARKALA,
                THIRUVANANTHAPURAM, PIN - 695141



                SRI P PRIJITH, SC FOR KSFE

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 4503 OF 2023                   2




                                      JUDGMENT

The petitioner is stated to have subscribed to two chits conducted by

the respondents. Chits were prized in his favour and while accepting the

prize amount, immovable property owned by the petitioner was mortgaged

as security. The petitioner contends that owing to covid, he suffered serious

loss and was not able to make payment on time. He has now been served

with a demand notice threatening the sale of immovable property. This has

led the petitioner to approach this Court seeking directions.

2. The learned counsel appearing for the petitioner submits that

he shall pay a sum of Rs.2.5 lakhs within a period of one month from today,

and the balance outstanding can be cleared if breathing time is granted.

3. The request made by the learned counsel appearing for the

petitioner is seriously objected by the learned counsel appearing for the

respondents. It is submitted that the total outstanding as of date is a sum of

Rs. 33,68,398/-.

4. I have considered the submissions advanced and have carefully

gone through the records.

5. Upon careful consideration of the submissions made by both

parties, it is evident that the petitioner owes in excess of Rs. 33.68 lakhs to

the respondents. As a measure of last resort, I am inclined to issue

directions to facilitate the petitioner in discharging his financial obligations to

the respondent. This approach is deemed necessary to provide a structured

pathway for the petitioner to clear off his monetary liabilities in a

manageable manner.

6. Resultantly, this writ petition is ordered, and the following

directions are issued:

i) The petitioner shall pay a sum of Rs. 2.5 lakhs within a period of one month from today.

(ii) Simultaneously, the petitioner shall approach the 3rd respondent with a request to inform him of the details of the outstanding amount together with interest and other charges due from him in respect of the chitty account. If such a request is made within two weeks from the date of receipt of a copy of this judgment, the 3rd respondent shall forthwith issue a statement in writing detailing the amounts

(iii) On receipt of such a statement, the petitioner shall pay the amounts shown therein in fifteen (15) equal monthly installments commencing from 15.04.2024 and continue to pay the same on every successive month thereafter until the entire loan is wiped off.

(iv) If the amounts are diligently paid in terms of the directions above, coercive proceedings initiated against him by the respondent for the realization of the amount

shall be kept in abeyance.

(v) It is made clear that if the petitioner commits default in respect of any two installments, he will lose the benefit of this judgment, and the concerned respondents will be free to continue the recovery proceedings against him from the stage at which he presently stands and recover the entire amount along with interest and other charges.