Kerala High Court
T.S. Vijayan vs The Kerala State Co-Operative Bank ... on 14 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
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WP(C)No. 39311 OF 2024
2024:KER:85883
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 14TH DAY OF NOVEMBER 2024/23RD KARTHIKA,
1946
WP(C) NO. 39311 OF 2024
PETITIONER:
T. S. VIJAYAN
AGED 62 YEARS, S/O. SANKARAN,
THYCOOT HOUSE, VANIYAMBALAM P.O.,
MALAPPURAM DISTRICT, PIN - 679339.
BY ADV.
K. RAKESH
RESPONDENT:
THE KERALA STATE CO-OPERATIVE BANK LTD.(ERSTWHILE
MDC BANK),
MANJERI ROAD, UP-HILL, MALAPPURAM,
MALAPPURAM DISTRICT, PIN - 676505,
REPRESENTED BY ITS AUTHORISED OFFICER.
SRI. GILBERT GEORGE CORREYA - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 14.11.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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WP(C)No. 39311 OF 2024
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D. K. SINGH, J.
--------------------------
W.P.(C) No. 39311 of 2024
-------------------------
Dated this the 14th day of November, 2024
JUDGMENT
1. The present writ petition has been filed for the following reliefs;
i) Issue a writ of mandamus or any other appropriate writs,
orders of directions directing the respondent to permit the
petitioner to clear of the overdue amount payable to the
respondent Bank by way of 25 monthly instalments;
ii) Dispense with the filing of English translation of vernacular
documents;
iii) Grant such other reliefs as this Hon'ble Court may deem fit
and proper in the circumstances of the case.
2. The petitioner had availed mortgage loan from the respondent
Bank for an amount of Rs. 6,00,000/- in the year 2017. This loan
liability was to be discharged in equal monthly installments. The
petitioner had failed to discharge the loan liability in terms of the loan
agreement and resultantly the loan account of the petitioner turned
NPA and the respondent Bank has proceeded further against the
petitioner under the provisions of the SARFAESI Act and the Rules
made thereunder to realize its outstanding dues.
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3. The learned Counsel for the respondent Bank on instructions
submits that, as of today, the overdue amount is Rs. 2,66,272/-. The
learned Counsel for the respondent Bank further submits that if the
petitioner makes payment of substantial upfront amount along with
one regular installment, the balance overdue amount can be paid in
few installments along with regular installments as this Court may
direct. If the petitioner makes payment of the overdue amount in few
installments along with regular installments as this Court may direct,
the respondent Bank shall not proceed further against the petitioner
under the SARFAESI Act and the Rules made thereunder and will
regularize the loan account of the petitioner for making payment in
terms of the loan agreement.
4. Considering the aforesaid stand of the respondent Bank, the
present writ petition is disposed of on the following terms;
(i) The petitioner shall pay Rs. 50,000/- along
with one regular installment on or before
07.12.2024.
(ii) The petitioner shall pay the balance
overdue amount in eight equal monthly
installments along with regular installments.
WP(C)No. 39311 OF 2024
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(iii) The first installment as directed above is
to be paid on or before 07.01.2025 and the
remaining seven installments on or before the
seventh day of each succeeding month.
(iv) After receiving the entire overdue
amount as directed above, the respondent Bank
shall regularize the loan account of the petitioner
to make payment in terms of the loan agreement.
(v) In case of failure to make payment of Rs.
50,000/- along with one regular installment or the
first installment or any of the subsequent
installments as directed above, the respondent
Bank is free to proceed further against the
petitioner in accordance with the law to realise its
outstanding dues.
Sd/-
D. K. SINGH
JUDGE
Svn
WP(C)No. 39311 OF 2024
2024:KER:85883
APPENDIX OF WP(C) 39311/2024
PETITIONER EXHIBITS
EXHIBIT P1 A TRUE COPY OF THE POSSESSION NOTICE DATED
29-10-2024 ISSUED BY THE RESPONDENT BANK
ALONG WITH ITS ENGLISH TRANSLATION
