Kerala High Court
Aji S vs The Authorised Officer on 11 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
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WP(C)No. 39582 OF 2024
2024:KER:84837
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
MONDAY, THE 11TH DAY OF NOVEMBER 2024/20TH
KARTHIKA, 1946
WP(C) NO. 39582 OF 2024
PETITIONERS:
1 AJI S
AGED 53 YEARS, S/O N. SUKUMARAN NSK,
GRAMAM ROAD, NEAR KSRTC, ATTINGAL PO,
THIRUVANANTHAPURAM, PIN - 695101.
2 SURYA S
AGED 44 YEARS, W/O AJI S. NSK.,
GRAMAM ROAD,NEAR KSRTC, ATTINGAL PO,
THIRUVANANTHAPURAM, PIN - 695101
BY ADV LIJU. M.P
RESPONDENTS:
1 THE AUTHORISED OFFICER
THE CANARA BANK LTD., REGIONAL OFFICE,
2ND FLOOR, CARMAL TOWERS,
NEAR COTTON HILL SCHOOL, VAZHUTHAKKAD,
THIRUVANANTHAPURAM, PIN - 695014.
2 THE CANARA BANK LTD.,
ATTINGAL BRANCH, 1ST FLOOR, POLIMEL TOWER,
NEAR MUNICIPALITY OFFICE, ATTINGAL,
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WP(C)No. 39582 OF 2024
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THIRUVANANTHPURAM REP. BY ITS BRANCH
MANAGER,
PIN - 695101.
BY ADVS.
GOPIKRISHNAN NAMBIAR M - SC
K.JOHN MATHAI(K/413/1984)
JOSON MANAVALAN(J-526)
KURYAN THOMAS(K/131/2003)
PAULOSE C. ABRAHAM(MAH/58/2006)
RAJA KANNAN(K/356/2008)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 11.11.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
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WP(C)No. 39582 OF 2024
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D. K. SINGH, J.
--------------------------
W.P.(C) No. 39582 of 2024
-------------------------
Dated this the 11th day of November, 2024
JUDGMENT
1. The present writ petition has been filed for the following
reliefs;
i. issue writ of mandamus or any other appropriate writ or
order or direction, allowing the petitioners to clear the
overdue amount in the loan transactions mentioned in Ext.P1
and P2 notices, with respondents by easy monthly
installment, regularize the loan and keep the coercive
proceedings against the properties, as mentioned in Ext.P1
and P2 notices, till then;
ii. issue writ of mandamus or any other appropriate writ or
order or direction, directing the respondents to allow the
petitioners to clear the due amounts in the loan transaction
with 2nd respondent by easy monthly installment and keep
all coercive proceedings as per Ext.P1 and P2 notices, against
the property, till then;
iii. to dispense with the translation of the documents
produced by the petitioners in vernacular language;
and
iv. pass such other orders deem fit and necessary in the
interest of justice.
2. The petitioners had availed two term loans from the
respondent Bank for an amount of Rs. 14,70,00,000/- in the year
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2021. This loan liability was to be discharged in equal monthly
installments. The petitioners had failed to discharge the loan
liability in terms of the loan agreement and resultantly the loan
account of the petitioners turned NPA and the respondent Bank has
proceeded further against the petitioners under the provisions of
the SARFAESI Act and the Rules made thereunder to realize its
outstanding dues.
3. The learned Counsel for the respondent Bank on instructions
submits that, as of today, the total outstanding liability of the
petitioner in respect of the loans is Rs. 14,69,65,747/- and the
overdue amount is Rs. 1,58,07,413/-. The learned Counsel for the
respondent Bank submits that if the petitioners make payment
substantial upfront amount along with one regular installment each
in respect of both the loans, the balance overdue amount can be
paid in few installments along with regular installments as this
Court may direct. If the petitioners make payment of the overdue
amount in few installments along with regular installments as this
Court may direct, the Bank shall not proceed further against the
petitioners under the SARFAESI Act and the Rules made thereunder
and will regularize the loan account of the petitioners after
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receiving the entire overdue amount along with regular
installments.
4. Considering the aforesaid stand of the respondent Bank, the
present writ petition is disposed of on the following terms;
(i) The petitioners shall pay Rs. 25,00,000/-
along with one regular installment each in
respect of both the loans on or before
25.11.2024.
(ii) The petitioners shall pay the balance
overdue amount in ten equal monthly
installments along with regular installments.
(iii) The first installment as directed above is
to be paid on or before 07.12.2024 and the
remaining nine installments on or before the
seventh day of each succeeding month.
(iv) After receiving the entire overdue
amount as directed above, the Bank shall
regularize the loan account of petitioners to
make payment in terms of the loan agreement.
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(iv) In case of failure to make payment of Rs.
25,00,000/- along with one regular installment
each in respect of both the loans or the first
installment or any of the subsequent
installments as directed above, the respondent
Bank shall be free to proceed further against the
petitioners in accordance with the law to realise
its outstanding dues.
Sd/-
D. K. SINGH
JUDGE
Svn
WP(C)No. 39582 OF 2024
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APPENDIX OF WP(C) 39582/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED
22.07.24 ISSUED FROM THE OFFICE OF 1ST
RESPONDENT
Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE
ISSUED BY THE 1ST RESPONDENT DATED
30.09.2024
