Kerala High Court
Mohandas B vs Kerala State Financial Enterprises ... 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. 4373 OF 2024
PETITIONER/S:
MOHANDAS B., AGED 45 YEARS, S/O BALAKRISHNAN,
KOTTAKKUZHIVADAKKETHARA CLAPPANA,VARAVILA PO,
KARUNAGAPPALLY, KOLLAM., PIN - 690528
BY ADVS.R.SURAJ KUMARSUNIL
J.CHAKKALACKALN.G.SINDHUSUNITHA G.ANJANA R.S.
RESPONDENTS:
1 KERALA STATE FINANCIAL ENTERPRISES LIMITED (KSFE),
REPRESENTED BY ITS MANAGER, MAIN BRANCH,
BADRATHA,P.B NO.510, MUSEUM ROAD, THRISSUR.,
PIN - 680020
2 KERALA STATE FINANCIAL ENTERPRISES LIMITED (KSFE),
REPRESENTED BY ITS BRANCH MANAGER,
VAVVAKKAVU BRANCH, KOLLAM., PIN - 690528
3 THE BRANCH MANAGER, THE KERALA STATE FINANCIAL
ENTERPRISES LTD VAVVAKKAVU BRANCH KOLLAM.,
PIN - 690528
BY ADV BINDU MOHAN
OTHER PRESENT:
SRI. BINDU MOHAN, 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:
W.P.(C) No. 4373/2024 2
JUDGMENT
The petitioner is stated to have availed a housing loan for a sum of Rs.10
lakhs from the third respondent bank in the year 2019. Towards collateral, an
item of immovable property was furnished as security. It is submitted that the
petitioner was running a two-wheeler workshop and due to unexpected reasons,
he was not in a position to generate enough amounts to make remittances on
time. He has now been issued with Exts.P2 to P4 notices threatening him with
coercive proceedings. It is in the afore circumstances that this writ petition is
filed seeking issuance of directions to the respondents to permit the petitioner to
clear the outstanding.
2. The learned Standing Counsel appearing for the respondents submitted
that the total outstanding as of the date due from the petitioner is about
Rs.15,99,777/-. It is submitted that the bank is not averse to granting the
petitioner an opportunity to clear the outstanding. However, he submits that a
limited number of installments be granted.
3. Upon careful consideration of the submissions made by both parties, it
is evident that the petitioner owes in excess of Rs.15.99 lakhs to the 3rd
respondent Bank. The respondents, very fairly, have agreed to permit the
petitioner to settle these debts through a limited number of installments. As a
measure of last resort, I am inclined to issue directions to facilitate the petitioner
in discharging his financial obligations to the 1st respondent. This approach is
deemed necessary to provide a structured pathway for the petitioner to clear off
his monetary liabilities in a manageable manner.
4. Resultantly, this writ petition is ordered, and the following directions are
issued:
(i) 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 loan
account. If such a request is made within two
weeks from the date of receipt of a copy of this
judgment, the 1st respondent shall forthwith issue a
statement in writing detailing the amounts.
(ii) On receipt of such a statement, the petitioner
shall pay the amounts shown therein in twelve (12)
equal monthly installments commencing from
15.3.2024, and continue to pay the same on every
successive month thereafter until the entire loan is
wiped off.
(iii) If the amounts are diligently paid in terms of
the directions above, coercive proceedings initiated
against him by the respondents for the realization
of the amount shall be kept in abeyance.
(iv) It is made clear that if the petitioner commits
default 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.
(v) It is further made clear that no application for
an extension of time will be entertained.
sd/-
RAJA VIJAYARAGHAVAN V,
JUDGE
DCS
APPENDIX OF WP(C) 4373/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE PASSBOOK ISSUED BY THE 3RD
RESPONDENT DATED NIL
Exhibit P2 TRUE COPY OF THE NOTICE DATED 15/11/2023
Exhibit P3 TRUE COPY OF THE NOTICE DATED 23.12.2023 ISSUED TO
THE PETITIONER BY 3RD RESPONDENT PERTAINING TO THE
DEMAND OF HOUSING LOAN
Exhibit P4 TRUE COPY OF THE NOTICE DATED 22/12/2023 ISSUED TO
THE PETITIONER BY 3RD RESPONDENT PERTAINING TO THE
DEMAND OF PERSONAL LOAN
