Kerala High Court
Moosan vs Kerala Bank on 21 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 41216 OF 2024
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2024:KER:88147
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. 41216 OF 2024
PETITIONER:
MOOSAN,
AGED 50 YEARS
S/O. MUHAMMEDKUNHI, VAYALPATH PUTHIYA PURAYIL HOUSE,
KURUMATHUR.P.O., TALIPARAMBA TALUK, KANNUR DISTRICT, PIN -
670142
BY ADVS.
V.T.MADHAVANUNNI
V.A.SATHEESH
RESPONDENTS:
1 KERALA BANK,
(KERALA STATE CO-OPERATIVE BANK), KURUMATHUR BRANCH,
KRUMATHUR P.O., KANNUR DT., REP. BY BRANCH MANAGER, PIN -
670142
2 AUTHORISED OFFICER UNDER SARFAESI ACT-2002,
KERALA BANK (FORMERLY THE KERALA STATE CO-OPERATIVE BANK
LTD.,KANNUR REGIONAL OFFICE, KANNUR DISTRICT, PIN - 670001
SRI.M. SASINDRAN-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. 41216 OF 2024
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JUDGMENT
Dated this the 21st day of November, 2024
The present Writ Petition has been filed seeking the
following prayers:
A. This Hon'ble Court may be pleased to issue a writ of
Mandamus or such other writ or order directing
Respondents to grant 12 monthly equal installment
facility to the petitioner to pay off the overdue amount in
the loan.
B. This Hon'ble Court may be pleased to issue a writ of
Mandamus or such other writ or order directing the
Respondents to regularize the loan account of the
petitioner.
C. The Petitioner may be exempted from producing English
translation of vernacular documents.
D. For such other and further writs or orders as the nature
and circumstances of the case may require.
2. The petitioner had availed a business loan of
Rs.14,00,000/- from the respondent bank in the year 2019.
The said loan liability has to be discharged along with
interest up to the year 2027. The petitioner has defaulted
in making repayment of the loan taken from the respondent
bank. Therefore, the bank, after classifying the petitioner's
loan account as NPA, has proceeded under the provisions of
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the SARFAESI Act and Rules made thereunder.
3. The learned counsel for the bank submits that if the
petitioner makes payment of substantial amount upfront
and the remaining overdue amount in few instalments,
along with the regular instalments, the bank shall
regularize the loan account of the petitioner. As of today,
the overdue amount is Rs.99,494/-.
4. Considering the said stand of the learned counsel for
the bank, the present writ petition is disposed of in the
following terms:
i. The petitioner shall pay an upfront amount of
Rs.25,000/- along with one regular instalment on
or before 07.12.2024 and the remaining overdue
amount in 4 equal monthly instalments, along
with the regular instalments. The 1st instalment is
to be paid on or before 07.01.2025, and the
remaining 3 instalments on or before the 7 th day
of each succeeding month.
ii. Once the petitioner pays the entire overdue
amount, the bank shall regularize the loan
WP(C) NO. 41216 OF 2024
2024:KER:88147
account of the petitioner.
iii. In case of failure to make payment of Rs.25,000/-
or any subsequent instalments as directed above,
the bank shall be free to proceed further against
the petitioner for realizing the outstanding loan
amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
D. K.SINGH
JUDGE
AP
WP(C) NO. 41216 OF 2024
2024:KER:88147
APPENDIX OF WP(C) 41216/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE JUDGMENT IN WP (C) NO.9909/2022
DATED 23-03-2022
Exhibit P2 TRUE COPY OF POSSESSION NOTICE DATED 15-11-2024
ALONG WITH ENGLISH TRANSLATION ISSUED TO THE
PETITIONER
Exhibit P3 A TRUE COPY OF THE SCREEN SHORT MESSAGE FROM THE
KERALA BANK RS.40,000/- CREDITED
