Kerala High Court
Roja Mol vs Icici Bank Ltd on 7 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 38862 OF 2024 1
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 7TH DAY OF NOVEMBER 2024 / 16TH KARTHIKA, 1946
WP(C) NO. 38862 OF 2024
PETITIONER:
ROJA MOL,
AGED 31 YEARS
D/O. ABDUL UDOOD MOHAMMED KABEER, RESIDING AT ROJA
MANZIL, KULAMUTTAM P. O., THIRUVANANTHAPURAM
DISTRICT, KERALA, INDIA, REPRESENTED BY POWER OF
ATTORNEY HOLDER JALEELA BEEVI A., AGED 52 YEARS, D/O.
ABDUL RASHEED, RESIDING AT ROJA MANZIL, KULAMUTTAM P.
O., MANAMBOOR, THIRUVANANTHAPURAM DISTRICT, KERALA,
INDIA, PIN - 695144
BY ADV MANJU M.K.
RESPONDENTS:
1 ICICI BANK LTD,
ZONAL OFFICE, TC 25/2491, M G ROAD, PULIMOODU
JN.,THIRUVANANTHAPURAM, REPRESENTED BY ITS AUTHORIZED
OFFICER, PIN - 695001
2 AUTHORIZED OFFICER & ZONAL RELATIONSHIP HEAD,
ICICI BANK LTD.,ZONAL OFFICE, TC 25/2491, M G ROAD,
PULIMOODU JN., THIRUVANANTHAPURAM, PIN - 695001
BY ADVS.
JOHN PRAKASH B J
P.PRAMEL(K/351/2009)
SOORAJ M.S.(K/717/2023)
ANAGHA MADATH THEKKEPATTE(K/001013/2024)
VARSHA VIJAYAKUMAR NAIR(K/003412/2023)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 38862 OF 2024 2
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JUDGMENT
The present Writ Petition has been filed for the following prayers:
"To issue a writ in the nature of mandamus or any other
appropriate writ order or direction directing the Respondent
Bank not to proceed further with coercive steps as indicated
in Exhibit P2.
b) To issue a writ in the nature of mandamus or any other
appropriate writ order or directing the Respondent Bank to
regularize the account by permitting to remit overdue in
maximum number of instalments as possible at any rate at
least 20 instalments together with regular EMI.
c) Grant such other relief that may be deemed fit and
proper by this Hon'ble Court in the facts and circumstances
of the case."
2. The petitioner had obtained housing loan of Rs.55,00,000/-
from the respondent Bank by creating equitable mortgage over his
property having an extent of 4.05 Ares in Old.Sy.No.4245,4232 in
Re.Sy.No.395/7-1 of Block No.18 of Manamboor Village in Varkala
Taluk. The tenure for repayment of the said loan amount along with
interest is for a period of 20 years in equal monthly installments. The
petitioner has committed defaults in making repayment of the loan in
terms of the loan agreement, and therefore, the respondent Bank, after
classifying the loan account of the petitioner as Non-Performing Asset,
has proceeded under the provisions of the SARFAESI Act and Rules
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made thereunder.
3. The learned counsel for the respondent Bank on
instructions, submits that as of today, the total outstanding amount is
Rs.62,57,100/-- and the total overdue amount is Rs.8,41,800/. He
further submits that if the petitioner makes payment of the overdue
amount in few installments along with regular installments, the Bank
shall regularise the loan account of the petitioner after receiving the
entire overdue amount.
Considering the said stand of the learned counsel for the
respondent Bank, the present writ petition is disposed of with
following directions:
1. The petitioner shall pay the entire overdue amount in 8
equal monthly installments along with regular installment. The 1st
installment is to be paid on or before 20.11.2024 and the
remaining 7 installments are to be paid on or before 20 th day of
each succeeding month.
2. After making payment of the entire overdue amount as
directed above, the Bank shall regularise the loan account of the
petitioner to make payment in terms of the loan agreement.
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3. In case of failure to make payment of the overdue amount
along with regular installment, the respondent Bank shall be free
to proceed with the SARFAESI proceedings against the petitioner
for realization of its dues, in accordance with law.
Sd/-D. K. SINGH
JUDGE
lsn
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APPENDIX OF WP(C) 38862/2024
PETITIONER EXHIBITS
ExhibitP1 TRUE COPY OF THE NOTICE DATED 26.08.2024
ISSUED BY THE RESPONDENT BANK
ExhibitP2 TRUE COPY OF THE ORDER ISSUED BY THE
HON'BLE CHIEF JUDICIAL MAGISTRATE,
THIRUVANANTHAPURAM DATED 07.10.2024 IN M C
