Kerala High Court
Ameena Thaha Koya vs Chief Manager And Authorized Officer, ... on 21 May, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 21ST DAY OF MAY 2024 / 31ST VAISAKHA, 1946
WP(C) NO. 18253 OF 2024
PETITIONER:
AMEENA THAHA KOYA
AGED 42 YEARS
D/O ABUSA BEEVI, PROPRIETRIX, M/S. AS INDUSTRIES, HAIL
VILLA, VADAKKEVILA.P.O., KOLLAM, PIN - 691010.
BY ADVS.
R.T.PRADEEP
P.BIJIMON
M.BINDUDAS
ABIN P. SHAJU
SURAJ S. KUMAR
NIRANJAN T. PRADEEP
RESPONDENT:
CHIEF MANAGER AND AUTHORIZED OFFICER, UCO BANK
KOLLAM BRANCH, FIRST FLOOR, KHAISE BUILDING, BEACH
ROAD, KOLLAM, PIN - 691001.
SRI.DEEPAK JOY, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 18253 OF 2024 2
JUDGMENT
Dated this the 21st day of May, 2024
The petitioner is the absolute owner in possession of 7.95
Ares of land in Survey No.340/25 and 23 in Block No.24 of
Vadakkevila Village with a single storeyed residential building
having a production unit of rice powder, chilli powder and
coriander powder under the name and style 'AS Industries'. The
residential building as well as the production unit are placed in
the same building and the petitioner along with her family is
residing therein.
2. The petitioner availed a Cash Credit loan from the
respondent - Bank for a sum of Rs.80 lakhs by mortgaging the
property of the petitioner, on 01.02.2018. Since the petitioner
was promptly paying the interest, the Cash Credit facility was
extended for a further period of one year. She was also granted
a Term Loan of Rs.3 lakhs on 28.02.2019.
3. Due to some unforeseen circumstances including
Covid - 19 pandemic, the petitioner was unable to repay the loan
and now she has been served with sale notices. The Bank is
ready for One Time Settlement for Rs.95 lakhs. It is in the above
circumstances that the petitioner is before this Court seeking to
grant six months' time to materialise the private sale of secured
asset and to honour the One Time Settlement by payment of
Rs.95 lakhs by keeping in abeyance proceedings pursuant to
Exts.P3 and P4.
4. Heard.
5. In effect, the petitioner seeks to vary the terms of the
alleged One Time Settlement where the petitioner intends to pay
Rs.10 lakhs right now and balance of Rs.85 lakhs within six
months.
6. The Standing Counsel submits that there is no One
Time Settlement agreed to by the Bank and the petitioner has to
pay the entire outstanding amount. Unless the entire amount is
paid, possession of the property cannot be restored.
7. I have heard the counsel for the petitioner and the
Standing Counsel for the Bank.
8. As regards grant of six months' time for the petitioner
to adhere to the One Time Settlement proposal, firstly the Bank
disputes existence of any such One Time Settlement agreed to
by the Bank. Secondly, even if there is a One Time Settlement,
the Hon'ble Apex Court has held in the judgment in State Bank
of India v. Arvindra Electronics Private Limited [(2023) 1 SCC
540] that this Court in exercise of the powers under Article 226 of
the Constitution cannot unilaterally change the terms of a One
Time Settlement arrived into between the customer and the
Bank.
9. Further relief sought for by the petitioner in this writ
petition is to quash Exts.P3 and P4. Exts.P3 and P4 are
proceedings issued by the Bank in exercise of the powers under
the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002. The petitioner has
an effective alternative remedy for challenging Exts.P3 and P4
before the Debts Recovery Tribunal. For all the above reasons, I
find no merit in the writ petition. The petitioner will be at liberty to
approach the Bank for any further re-arrangement/settlement of
the loan account.
10. The respondent is directed to permit the petitioner to
remove the apparels, study materials of school going children
and household utensils in the presence of authorised officers of
the Bank and the Advocate Commissioner. The respondent will
be at liberty to avail police assistance, if found, necessary.
The writ petition is disposed of as above.
Sd/-
N.NAGARESH
JUDGE
Sru
APPENDIX OF WP(C) 18253/2024
PETITIONER'S EXHIBITS
Exhibit P1 TRUE COPY OF DISCHARGE SUMMARY OF HUSBAND OF
PETITIONER NAMELY SUJATYDHEEN (HOSPITAL NO.L-
00116593) FOR THE TREATMENT FROM 15.11.2022
TO 30.11.2022 ISSUED FROM TRAVANCORE MEDICAL
COLLEGE HOSPITAL.
Exhibit P2 TRUE COPY OF NOTICE DATED 21.12.2023 AS
REGARD TAKING PHYSICAL POSSESSION OF SECURED
ASSET ON 9.1.2024 WHICH IS ISSUED BY ADVOCATE
COMMISSIONER TO PETITIONER.
Exhibit P3 TRUE COPY OF AUCTION SALE NOTICE DATED
12.4.2024 BY SCHEDULING THE AUCTION SALE ON
28.5.2024 ISSUED BY RESPONDENT TO PETITIONER.
Exhibit P4 TRUE COPY OF NOTICE DATED 13.5.2024 OF TAKING
PHYSICAL POSSESSION OF SECURED ASSET ON
21.5.2024 AT 2 P.M. BY ADVOCATE COMMISSIONER
TO PETITIONER.
