Balaji K A vs The Authorized Officer
2024 Latest Caselaw 31724 Ker

Kerala High Court

Balaji K A vs The Authorized Officer on 6 November, 2024

Author: D. K. Singh

Bench: D. K. Singh

                               1




WP(C)No. 39120 OF 2024
                                               2024:KER:83186

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
             THE HONOURABLE MR. JUSTICE D. K. SINGH
WEDNESDAY, THE 6TH DAY OF NOVEMBER 2024/15TH KARTHIKA,1946
                    WP(C) NO. 39120 OF 2024

PETITIONERS:

    1    BALAJI K A,
         AGED 59 YEARS, S/O. ALAGAR SWAMY,
         DEVIKULAM TALUK, MUNNAMKANDAM VILLAGE,
         ADIMALI P. O., IDUKKI, PIN - 685561.

    2    MATHEW M. D.,
         AGED 72 YEARS, S/O. DEVASIA,
         MUKKAMKUZHIYIL HOUSE, RAJAKKAD P. O.,
         UDUMBACHOLA VILLAGE, IDUKKI, PIN - 685566.

         BY ADVS.
             SRI. A. A. SHIBI
             SMT. ANJU ARAVIND
             SRI. JOEL CHALAMANA
             SMT. MAHIMA
RESPONDENTS:

    1    THE AUTHORIZED OFFICER,
         KERALA STATE CO-OPERATIVE BANK LTD.,
         CREDIT PROCESSING CENTER, COLONY P. O.,
         IDUKKI DISTRICT, PIN - 685602.

    2    THE IDUKKI DISTRICT CO-OPERATIVE BANK LTD.,
         (IDCB), KUNCHITHANNI BRANCH,
         KUNCHITHANNI P. O., IDUKKI, PIN - 685565.

         BY ADV.
            SRI.K.S. ARUN KUMAR-SC

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 06.11.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
                                          2




WP(C)No. 39120 OF 2024
                                                               2024:KER:83186

                              D. K. SINGH, J.
                            --------------------------
                        W.P.(C) No. 39120 of 2024
                            -------------------------
                Dated this the 6th day of November, 2024

                                  JUDGMENT

1. The present writ petition has been filed seeking the following

reliefs;

i. Issue a writ, order or direction in the nature of Mandamus, or such other writ, order or direction, directing the respondents to give 25 installments in the overdue amount and to regularize the loan account after the payment of the same.

ii. Issue a writ, order or direction in the nature of Mandamus, or such other writ, order or direction, directing the respondents to grant eight months to clear the overdue amounts in the loan accounts and to regularize the loan account.

iii. To issue such other appropriate writ, order or direction as is deemed just and necessary in the circumstances of the case.

2. The petitioners had availed ordinary cash credit loan of Rs.

16,00,000/- from the respondent Bank in the year 2010 and

thereafter committed defaults in making repayment.

3. The learned Counsel for the respondent Bank on instructions

submits that, as of today, the total outstanding in respect of the

WP(C)No. 39120 OF 2024 2024:KER:83186

loan is more than Rs. 71,00,000/-. She further submits that the Bank

has offered one time settlement for an amount of Rs. 16,12,142/-

and if the petitioners make payment of the said amount within a

period one month, the loan account of the petitioners shall be

closed.

4. The learned Counsel for the petitioners submits that the

petitioners will pay Rs. 16,12,142/-, the amount of one time

settlement on or before 10.12.2024.

5. Considering the above submissions advanced on behalf of the

both the parties, the present writ petition is hereby disposed of

with direction to the petitioners to make payment of Rs. 16,12,142/-

on or before 10.12.2024 and, if the petitioners make payment of

said amount of Rs. 16,12,142/- on or before 10.12.2024, the Bank

shall close the loan account of the petitioners and will not proceed

further against the petitioners under the provisions of the

SARFAESI Act and the Rules made thereunder.

Sd/-

D. K. SINGH JUDGE Svn

WP(C)No. 39120 OF 2024 2024:KER:83186

APPENDIX OF WP(C) 39120/2024

PETITIONER'S EXHIBITS

EXHIBIT P1 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED UNDER SEC. 13(4) OF THE SARFAESI ACT TO THE 1ST PETITIONER BY THE RESPONDENT BANK DATED 17.10.2024 WITH ENGLISH TRANSLATION

EXHIBIT P2 THE PHOTO OF THE NOTICE BOARD PLACED BY THE RESPONDENT WITH ENGLISH TRANSLATION

EXHIBIT P3 THE TRUE COPY OF THE PAYMENT DETAILS ISSUED BY THE RESPONDENT BANK TO THE PETITIONER