Kerala High Court
Sunilkumar vs Indian Bank on 3 May, 2024
Author: Kauser Edappagath
Bench: Kauser Edappagath
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
FRIDAY, THE 3RD DAY OF MAY 2024 / 13TH VAISAKHA, 1946
WP(C) NO. 16767 OF 2024
PETITIONERS:
1 SUNILKUMAR,
AGED 49 YEARS
S/O KUMARAN, AYCATTU HOUSE, KAKKUDUMON P O, ATHIKKAYANL,
RANNI, PATHANAMTHITTA, DISTRICT, KERALA PIN 689711 MOB;-
6238492962 NOW RESIDING AT AYCATTU HOUSE, UTHIMOODU P O,
RANNI, PATHANANTHITTA, PIN - 689672
2 SMITHA SUNIL,
AGED 45 YEARS
W/O SUNILKUMAR, AYCATTU HOUSE,KAKKUDUMON P O, ATHIKKAYAM,
RANNI, PATHANAMTHITTA DISTRICT, KERALA PIN 689711 MOB;-
6238492962. NOW RESIDING AT AYCATTU HOUSE, UTHIMOODU P O,
RANNI, PATHANAMTHITTA, PIN - 689672
BY ADVS.
P.K.MURALEEDHARAN
SUNU P.JOHN
RESPONDENT:
INDIAN BANK,
NRI, RANNI BRANCH, MADAPPALLIL BUILDING, COLLEGE ROAD,
PAZHAVANGADI P O, RANNI, PHONE-04735-225499, REPRESENTED
BY ITS AUTHORISED OFFICER, PIN - 689673
SC- SRI BINOY VASUDEVAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).No. 16767 of 2024
2
JUDGMENT
Dated this the 3rd day of May, 2024
The petitioners are challenging the recovery
proceedings initiated against him under the Securitization and
Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002.
2. The petitioners have availed a credit facility from the
respondent Bank and consequent to the default committed by
the petitioners in repaying the amount, the said account is
declared as NPA. Accordingly, recovery proceedings have been
initiated which is impugned in this writ petition.
3. Heard Sri.P.K. Muraleedharan, the learned counsel for
the petitioners and Sri. Binoy Vasudevan, the learned standing
counsel for the respondent.
4. The learned counsel appearing for the Bank submits
that as on date, an amount of Rs.9,19,000/- is overdue in the
loan. It is submitted by the learned counsel for the Bank upon
instructions that, they are amenable for granting an opportunity
to the petitioner to regularise the loan account by paying the
entire instalment overdue along with interest in reasonable
monthly instalments.
In such circumstances, this writ petition is disposed of
granting an opportunity to the petitioners to regularise the loan
account by paying the instalment overdue as mentioned above
along with interest due thereon in 12 equal monthly instalments
commencing from 01.06.2024 onwards. The subsequent
instalments shall be paid by the petitioner on the 5 th day of
every succeeding months. Along with the aforesaid payment,
regular monthly instalment shall also be paid. In case of default
on the part of the petitioner in payment of any of the
instalments including regular monthly 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 petitioner
is directed to be kept in abeyance.
Sd/-
DR. KAUSER EDAPPAGATH
SK
JUDGE
APPENDIX OF WP(C) 16767/2024
PETITIONER EXHIBITS :
Exhibit P1 A TRUE COPY OF THE STATEMENT OF ACCOUNT OF
THE LOAN ACCOUNT NO. 6520083595 IN THE NAME
OF THE FIRM SREDHA ENTERPRISES DATED
22/3/2024
Exhibit P1(a) A TRUE, COPY OF STATEMENT OF ACCOUNT ISSUED
BY THE RESPONDENT BANK REGARDING THE ACCOUNT
NO. 6883528963 IN THE NAME OF THE FIRM SREDHA
ENTERPRISES DATED 19/4/2024
Exhibit P1(b) A TRUE COPY OF STATEMENT OF ACCOUNT ISSUED BY
THE RESPONDENT BANK REGARDING THE ACCOUNT NO.
7027366205 IN THE NAME OF THE FIRM SREDHA
ENTERPRISES DATED 19/4/2024
Exhibit P1(c) A TRUE COPY OF STATEMENT OF ACCOUNT ISSUED BY
THE RESPONDENT BANK REGARDING THE ACCOUNT NO.
7247844716 IN THE NAME OF THE FIRM SREDHA
ENTERPRISES DATED 19/4/2024
Exhibit P1(d) A TRUE COPY OF STATEMENT OF ACCOUNT ISSUED BY
THE RESPONDENT BANK REGARDING THE ACCOUNT NO.
6794886272 IN THE NAME OF THE SECOND
PETITIONER SMITHA SUNIL DATED 19/4/2024
Exhibit P2 A TRUE COPY OF THE SECTION 13(2) NOTICE UNDER
THE SARFAESI ACT DATED 12/12/2023 ISSUED BY
THE RESPONDENT TO THE PETITIONERS
Exhibit P3 A TRUE COPY OF THE POSSESSION NOTICE FOR
IMMOVABLE PROPERTY ISSUED BY THE RESPONDENT
DATED 28/2/2024
Exhibit P4 A TRUE COPY OF THE REPRESENTATION MADE BY THE
PETITIONERS TO THE RESPONDENT BANK VIDE DATED
11/3/2024
