Mohammed Kunhi vs The Authorized Officer
2024 Latest Caselaw 12215 Ker

Kerala High Court

Mohammed Kunhi vs The Authorized Officer on 14 May, 2024

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
              THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
     TUESDAY, THE 14TH DAY OF MAY 2024 / 24TH VAISAKHA, 1946
                      WP(C) NO. 17144 OF 2024
PETITIONER:

             MOHAMMED KUNHI,
             AGED 57 YEARS
             S/O. ABDULLA, M.R.HOUSE, PAKYARA, UDUMA P.O,
             KASARGOD DISTRICT, PIN - 671319
             BY ADV K.V.SREE VINAYAKAN


RESPONDENTS:

      1      THE AUTHORIZED OFFICER,
             KERALA STATE CO-OPERATIVE BANK LTD,(KERALA BANK)
             HEAD OFFICE, P.B.NO.48, NAYAK'S ROAD, KASARAGOD,
             PIN - 671121
      2      THE KERALA STATE CO-OPERATIVE BANK LTD,(KERALA
             BANK),
             UDUMA BRANCH, KASARAGOD, REPRESENTED BY ITS
             MANAGER, PIN - 671121
      3      RASHEEDA.P.H.,
             W/O. MOHAMMED KUNHI, M.R.HOUSE, PAKYARA, UDUMA
             P.O, KASARGOD DISTRICT, PIN - 671319


             BY ADV M.SASINDRAN


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   14.05.2024,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P.(C). No.17144 of 2024      :2:



                           VIJU ABRAHAM, J.
         --     -- -- -- -- -- -- -- -- -- -- -- --
                       W.P.(C) No.17144 of 2024
         --     -- -- -- -- -- -- -- -- -- -- -- --
                   Dated this the 14th day of May, 2024

                             JUDGMENT

The 3rd respondent, who is the wife of the petitioner, has

availed two loans from the 2 nd respondent bank and consequent to

the default in repayment of the amount, proceedings have been

initiated by the bank under the Securitization and Reconstruction

of Financial Assets and Enforcement of Security Interest Act

(SARFAESI) Act. The petitioner has approached this Court seeking

a direction to permit him to pay the overdue amount in 20 equal

monthly instalments.

2. Heard the learned counsel for the petitioner and the

learned counsel for the respondent bank.

3. The learned counsel for the respondent bank submitted

that the total overdue amount as on date is Rs.6,72,937/- and that

the if the petitioner pays the overdue amount in equal monthly

instalments along with the regular EMIs, the loan account could be

regularised.

4. Considering the facts and circumstances of the case and

submissions made across the bar, I dispose of the writ petition

directing to regularise the loan account on the following

conditions:

i) The petitioner shall pay the overdue amount

of Rs.6,72,937/- (Rupees six lakhs seventy two

thousand nine hundred and thirty seven only)

along with the accrued interest and other charges

in 15 equated monthly installments, commencing

from 01.06.2024 and shall continue to pay the

regular instalments as per the original loan

schedule.

ii) In the event of any single default in payment

as directed above, the respondent bank shall be

free to continue the recovery proceedings from the

stage at which they presently stand.

iii) It is made clear that if the petitioner complies

with the aforesaid directions, further proceedings

for recovery shall be kept in abeyance.

With the above said directions, this writ petition is disposed

of.

Sd/-

VIJU ABRAHAM JUDGE sm/

APPENDIX OF WP(C) 17144/2024

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE JUDGMENT IN W.P(C) 2640/2022 DATED 25-01-2022 OF THIS COURT Exhibit P2 THE TRUE COPY OF THE ORDER IN R.P.NO.

1051/2023 DATED 22-03-2024 OF THIS COURT Exhibit P3 THE TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENTS 1 AND 2 DATED 04-04-2024