Safarali.S vs Kerala State Financial Enterprizes Ltd
2024 Latest Caselaw 18623 Ker

Kerala High Court

Safarali.S vs Kerala State Financial Enterprizes Ltd on 27 June, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
         THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     THURSDAY, THE 27TH DAY OF JUNE 2024 / 6TH ASHADHA, 1946
                       WP(C) NO. 22979 OF 2024
PETITIONER:

          SAFARALI.S
          AGED 34 YEARS
          S/O SALIM, VALIPARAMBIL HOUSE, MUDUR POST, PALAKKAD,
          PIN - 678592
          BY ADV VIJAYAKUMARI


RESPONDENTS:

    1     KERALA STATE FINANCIAL ENTERPRIZES LTD
          REPRESENTED BY SPECIAL DEPUTY THAHASILDAR(R.R), OFFICE
          OF SPECIAL DEPUTY THAHASILDAR(R.R), K S F E, KUNNATH
          BUILDING, II FLOOR, KANDATH SUDHEVAN ROAD,
          SULTHANPETTA, PALAKKAD, PIN - 678001
    2     THE BRANCH MANAGER
          KERALA STATE FINANCIAL ENTERPRIZSES LTD, II BRANCH,
          PALAKKAD, PIN - 678001


          SRI.SALIL NARAYANAN K.A., SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.06.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 22979 OF 2024            2



                             JUDGMENT

When this matter was called today, Sri.Salil Narayanan -

learned Standing Counsel for the 1st respondent - Financial

Institution submitted that, the total outstanding in the loan account

of the petitioner, at on 30.06.2024, is Rs.13,85,291/-; and that if he is

willing to pay the same in not more than 18 equal monthly

instalments, his client will not stand in the way of this Court

disposing of this writ petition on such terms.

2. Sri.Vijayakumar - learned counsel for the petitioner, fully

agreed to the afore and prayed that this writ petition be thus

ordered.

In the afore circumstances, I allow this writ petition, granting

liberty to the petitioner to pay the total outstanding amount in the

loan account, namely, Rs.13,85,291/- as on 30.06.2024, with all

applicable charges and interest, in 18 equal monthly installments

commencing from 30.07.2024. If this is done, the 1 st respondent -

Financial Institution shall close the loan account and return the

security documents to him, on proper receipt.

Needless to say, as long as the petitioner pays as per the above

directions, all further action pursuant to Ext. P2 notice will stand

deferred; but if he defaults payment of two consecutive installments

as ordered above, the 1st respondent - Financial Institution will be at

full liberty to invoke appropriate remedies for recovery of the total

balance amount as per law, without having to obtain any further

orders from this Court.

Sd/-DEVAN RAMACHANDRAN JUDGE lsn

APPENDIX OF WP(C) 22979/2024

PETITIONER EXHIBITS Exhibit .P1 TRUE COPY OF THE LETTER DATED 26/04/2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER Exhibit.P 2 TRUE COPY OF THE NOTICE DATED 13/05/2024 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER RESPONDENTS EXHIBITS: NIL

TRUE COPY

P.A TO JUDGE

LSN