Biju vs Authorized Officer
2024 Latest Caselaw 12089 Ker

Kerala High Court

Biju vs Authorized Officer on 10 May, 2024

Author: Murali Purushothaman

Bench: Murali Purushothaman

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
              THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
         FRIDAY, THE 10TH DAY OF MAY 2024 / 20TH VAISAKHA, 1946
                           WP(C) NO. 17184 OF 2024
PETITIONERS:

     1        BIJU
              AGED 45 YEARS
              S\O SOSSAMMA RESIDING AT SHIBU MANDIRAM, CHERUKKOORKONAM,
              PAZHAKUTTY P O, NEDUMANGADU, THIRUVANTHAPURAM,
              PIN - 695561
     2        SOSSAMMA
              AGED 65 YEARS
              RESIDING AT SHIBU MANDIRAM, CHERUKKOORKONAM, PAZHAKUTTYPO,
              NEDUMANGADU, THIRUVANTHAPURAM, PIN - 695596
              BY ADV NAVEEN RADHAKRISHNAN


RESPONDENT:

              AUTHORIZED OFFICER
              NEDUMANGAD CO-OPERATIVE URBAN BANK LIMITED
              NEDUMANGAD PO THIRUVANTHAPURAM, PIN - 695541
              BY ADV NISHA GEORGE



     THIS     WRIT   PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
10.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C).No. 17184 of 2024
                                        2


                                   JUDGMENT

Dated this the 10th day of May, 2024

The petitioners have availed a housing loan from the

respondent bank. Since, the petitioners defaulted payment of

instalments, proceedings under the Securitization and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002, were initiated and possession of the property

was taken. The petitioners have filed this writ petition for a

direction to the respondent to provide instalment facility to the

petitioners to pay off the overdue amount.

2. The learned Standing Counsel for the respondent, on

instructions, submits that an amount of Rs.2,23,642/- is overdue

as on today and if the petitioners are willing to pay a substantial

amount in lump sum, the account can be regularized.

3. The learned counsel for the petitioners submits that

the petitioners will remit an amount of Rs.50,000/- (Rupees Fifty

Thousand Only) on or before 15.06.2024 and the balance

overdue amount will be remitted in ten equal monthly

instalments commencing from 01.07.2024.

In view of the submissions made by the learned

counsel for the petitioners and the learned Standing Counsel for

the respondent, I am of the view that the petitioners can be

granted an opportunity to repay the overdue amount in

instalments and to have the loan account regularized.

Accordingly, there will be a direction to the petitioners to pay an

amount of Rs.50,000/- (Rupees Fifty Thousand Only) towards the

overdue amount on or before 15.06.2024. The balance overdue

amount shall be paid along with regular EMI's in ten equal

monthly instalments commencing from 01.07.2024. In case, the

petitioners default payment of any of the instalments as above,

it will be open to the respondent to proceed against the

petitioners, in accordance with law. To enable the petitioners to

pay the amount in instalments as above, coercive proceedings

against the petitioners shall be kept in abeyance. Once the first

instalment of Rs.50,000/- is paid, the bank shall handover

possession of the secured asset to the petitioners.

Sd/-

MURALI PURUSHOTHAMAN JUDGE SK

APPENDIX OF WP(C) 17184/2024

PETITIONER EXHIBITS :

Exhibit P1 THE TRUE COPY OF THE DISCHARGE CERTIFICATE ISSUED BY THE DIRECTORATE OF MEDICAL EDUCATION THIRUVANTHAPURAM DATED 3.12.2023 Exhibit P2 THE TRUE COPY OF THE ORDER ISSUED BY THE HONBLE CHIEF JUDICIAL MAGISTRATE COURT DATED 22.12.2023 Exhibit P3 A TRUE COPIES OF THE POSSESSION NOTICE UNDER SECTION 13(2) SERFACI ACT TO THE 1ST PETITIONER DATED 10.7.23 Exhibit P4 A TRUE COPIES OF THE POSSESSION NOTICE UNDER SECTION 13(2) SERFACI ACT TO THE 2ND PETITIONER DATED 10.7.23