Fathima Suhara vs The Manager Federal Bank
2024 Latest Caselaw 32722 Ker

Kerala High Court

Fathima Suhara vs The Manager Federal Bank on 12 November, 2024

Author: D. K. Singh

Bench: D. K. Singh

WP(C) NO. 39316 OF 2024            1




                                                  2024:KER:84308

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                              PRESENT

               THE HONOURABLE MR. JUSTICE D. K. SINGH

 TUESDAY, THE 12TH DAY OF NOVEMBER 2024 / 21ST KARTHIKA, 1946

                      WP(C) NO. 39316 OF 2024


PETITIONER:

            FATHIMA SUHARA,
            AGED 53 YEARS
            W/O ABDUL RASHEED, PONAKUZHI HOUSE, PORIBAZAR, SN
            PURAM, THRISSUR, PIN - 680668


            BY ADVS.
            K.N.ABHILASH
            SUNIL NAIR PALAKKAT
            RITHIK S.ANAND
            MUHAMMED ANEES




RESPONDENTS:

    1       THE MANAGER FEDERAL BANK,
            EKS COMPLEX, MOONNUPEEDIKA,THRISSUR, KERALA, PIN -
            680681

    2       THE AVP AND AUTHORIZED OFFICER,
            THE FEDERAL BANK LTD, LRCD DIVISION, 1ST FLOOR,
            CHENCHERY TOWER, OLLUR, THRISSUR, PIN - 680306



            SRI.P.PAULOCHAN ANTONY-SC


        THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 39316 OF 2024                2




                                                         2024:KER:84308

                                JUDGMENT

The present writ petition has been filed with the following

prayers:

"i.Issue a writ of mandamus or other appropriate writ, order or direction commanding the respondents to regularize the loan account of the petitioner, permitting her to repay due amount in 20 monthly installments.

ii. Such other reliefs as this Hon'ble court deems fit and proper to this Hon'ble Court."

2. The petitioner had availed a loan of Rs.50,00,000/-

from the respondent Bank in the year 2019. 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 made

thereunder.

3. The learned counsel for the respondent Bank, on

instructions submits that, as of today, the total overdue amount is

Rs.16,35,300/- and the total outstanding amount is Rs.62,79,510/-

He further submits that if the petitioner makes the substantial

payment upfront and agrees to pay the remaining amount in few

installments along with regular installments, as this Court may fix,

2024:KER:84308

the respondent Bank shall regularise the loan account of the

petitioner for making payment in terms of the loan agreement.

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 make payment of Rs.5 lakhs along with

one regular installment on or before 30.11.2024 and the balance

amount in 15 equal monthly installments along with regular

installments. The 1st installment is to be paid on or before 25.12.2024

and the remaining 14 installments are to be paid on or before 25 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.

3. In case of failure to make payment of Rs. 5 lakhs along with

one regular installment or any subsequent installments as directed

above, 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

2024:KER:84308

APPENDIX OF WP(C) 39316/2024

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 11.10.2023 ISSUED BY THE 2ND RESPONDENT

Exhibit P2 THE TRUE COPY OF THE NOTICE DATED 01.10.2024 IN CRL.M.C NO.29/2024 ON THE FILES OF CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR ALONG WITH ITS ENGLISH TRANSLATION