Kerala High Court
Jyothish vs The Ottappalam Co-Operative Urban Bank ... on 21 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 39583 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 21ST DAY OF NOVEMBER 2024 / 30TH KARTHIKA, 1946
WP(C) NO. 39583 OF 2024
PETITIONERS:
1 JYOTHISH,
AGED 49 YEARS
S/O GANGADHARAN NAIR, GEETHA NIVAS, MANNUR PO,
PALAKKAD DISTRICT, PIN - 678642
2 SATHYABHAMA NETHIAR,
AGED 79 YEARS
W/O GANGADHARAN NAIR, GEETHA NIVAS, MANNUR PO,
PALAKKAD DISTRICT, PIN - 678642
3 SASIKALA,
AGED 44 YEARS
W/O JYOTHISH, GEETHA NIVAS, MANNUR PO, PALAKKAD
DISTRICT, PIN - 678642
BY ADVS.
K.V.RASHMI
LAKSHMI
RAHUL ANIL
RESPONDENTS:
1 THE OTTAPPALAM CO-OPERATIVE URBAN BANK LTD,
PATHIRIPALA BRANCH , PATHIRIPALA, PALAKKAD , REP. BY
ITS MANAGER, PIN - 679302
2 THE AUTHORIZED OFFICER,
THE OTTAPPALAM CO-OPERATIVE URBAN BANK LTD,
PATHIRIPALA BRANCH , PATHIRIPALA, PALAKKAD, PIN -
679302
WP(C) NO. 39583 OF 2024 2
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BY ADVS.
VINOD MADHAVAN
M.V.BOSE(K/8/1967)
DEVI P.(K/643/2013)
SANIYA C.V.(K/749/2021)
MONISHA BABU(K/001974/2024)
SRI. VINOD MADHAVAN-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 39583 OF 2024 3
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JUDGMENT
The present writ petition has been filed for the following
prayers:
"i). Issue a Writ of Mandamus or any other appropriate
Writs, Orders or Directions commanding the respondents to
continue with the extended instalment facility for regularising
the loan as is directed by this Hon'ble Court in Ext. P2
judgment by way of equal monthly instalments for a further
period of 8 months more,
ii) Issue a Writ of Mandamus or other appropriate Writs,
Orders or Directions directing the respondents to accept a
lumpsum amount of 3 to 5 lakhs within a period of 7 days
from the date of the order of the Hon'ble Court,
iii) Issue a Writ of Mandamus or other appropriate Writs,
Orders or Directions to the respondents to keep in abeyance
all coercive steps pursuant to Ext. P4, pending disposal of the
above Writ Petition,
iv) To grant such the relief sought from time to time including
the cost of this proceeding.
v)English translation of the vernacular documents shall be
produced as and when desired by this Hon'ble Court."
2. The 1st and 2nd petitioners had availed one Cash Credit
facility and two housing loans from the respondent Bank by
creating an equitable mortgage over their property having an
extent of 0.0136 Hectares and 0.0026 Hectares in
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Re.Sy.Nos.352/76 and 352/77, old Sy.No.14/1, 0.0162 Hectares in
Re.Sy.No.352/69 in Old.Sy.No.14/1 and 0.0122 Hectares in
Re.Sy.No.352/36 in Old Sy.No.14/1 in Lakkidi-Perur No.2 Village,
Ottapalam Talum, Palakkad District. The 3rd petitioner is the
guarantor to the said loans. The petitioners have committed
defaults in making repayment of the loan amount and therefore,
the respondent Bank after classifying the loan account of the
petitioners as Non-Performing Asset, has proceeded under the
provisions of the SARFAESI Act and Rules made thereunder.
3. The learned counsel for the petitioners submits that the
petitioners want to discharge the loan liability. However, the
petitioners need some time for discharging the loan liability in
installments. He further submits that the petitioners will be
permitted to pay the overdue amount along with regular
installments in few installments and after the petitioner makes
payment of the entire overdue amount along with regular
installments, the Bank should regularise the loan accounts of the
petitioners.
4. The learned counsel for the respondent Bank has
objected to the said prayer on the ground that the petitioners had
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earlier approached this Court and had not complied with the
interim order and however, it is reinstated to the discretion of the
Court to pass an appropriate order. This Court, vide interim order
dated 11.11.2024, directed the petitioner to deposit Rs.5 lakhs
with one regular installment. But, the learned counsel for the
respondent Bank submits that the petitioners have made deposit
of Rs.5 lakhs but the petitioners have not paid one regular
installment as directed by this Court.
5. The learned counsel for the petitioners submits that the
petitioners' Scanning Centre has been taken over by the Bank.
However, the learned counsel for the Bank disputes the said fact
and submits that only a symbolic possession has been taken.
Considering the aforesaid stand of the respondent Bank, the
present writ petition is disposed of with following directions:
1. The petitioner shall pay the entire overdue amount in 11
equal monthly installments along with regular installments. The
1st installment is to be paid on or before 07.12.2024 and the
remaining 10 installments to be paid on or before 07th day of each
succeeding month.
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2. After making payment of the entire overdue amount as
directed above, the Bank shall regularise the loan accounts of the
petitioners.
3. In case of failure to make payment of the overdue
amount along with regular installment or any subsequent
installments as directed above, the respondent Bank shall be free
to proceed further against the petitioners for realizing the
outstanding loan amount.
Sd/-D. K. SINGH
JUDGE
lsn
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APPENDIX OF WP(C) 39583/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 15-01-2024
ISSUED BY THE 2ND RESPONDENT HEREIN TO THE
PETITIONERS UNDER SECTION 13(2) OF
SECURITISATION AND RECONSTRUCTION OF
FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY
INTEREST ACT, 2002
Exhibit P2 A TRUE COPY OF THE JUDGMENT IN WPC NO.
9154/2024 DATED 03.04.2024
Exhibit P3 A TRUE COPY OF THE RECEIPTS DATED 02.05.2024
TO 27.09.2024 SHOWING PAYMENT
Exhibit P4 A TRUE COPY OF THE REQUEST DATED 14.08.2024
Exhibit P5 A TRUE COPY OF THE POSSESSION TAKE OVER
NOTICE ISSUED BY THE BANK DATED 25.10.2024
