Kerala High Court
Sukumaran vs South Indian Bank Ltd on 21 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 38755 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. 38755 OF 2024
AGAINST THE ORDER/JUDGMENT DATED 22.10.2024 IN SA NO.25
OF 2024 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONERS:
1 SUKUMARAN,
AGED 65 YEARS
S/O. SANKARAN, KANDACHEDATH HOUSE, UMMALATHOOR,
KUTTIKKATOOR, KOZHIKODE, PIN - 673008
2 SUNITHA A,
AGED 43 YEARS
D/O. SUKUMARANKANDACHEDATH HOUSE, UMMALATHOOR,
KUTTIKKATOOR KOZHIKODE, PIN - 673008
BY ADVS.
N.V.VINAY
VANI S. KUMAR
SANDHYA ASHOK
RESPONDENT:
SOUTH INDIAN BANK LTD,
REGIONAL OFFICE, HAPPY TOWER, VAIKOM MUHAMMED
BASHEER ROAD,MANANCHIRA, KOZHIKODE, REPRESENTED BY
ITS AUTHORIZED OFFICER, PIN - 673001
BY ADV P.A.AUGUSTINE(AREEKATTEL)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 21.11.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The present writ petition has been filed for the following
prayers:
" i) To issue a Writ of Certiorari or other appropriate
writ, declaring the Exhibit P2 notice as illegal and to stay
all the proceedings in CMP No. 1642/2023 pending
before the Hon'ble Chief Judicial Magistrate Court,
Kozhikode until the statutory appeal period for
challenging the order as mentioned in Ext P1is over to
serve the ends of justice.
ii) To issue a Writ of Mandamus directing the respondent
not to initiate any proceeding against the petitioner to
disposes them from the secured asset until the statutory
appeal period for challenging the Ext P1 order is over to
serve the ends of justice.
iii) To issue a Writ of Mandamus directing the 1st
respondent to regularize the loan accounts of the
petitioners to serve the ends of justice. iv) To issue such
other writs, order or directions as this Hon'ble court may
deem fit and necessary in the facts and circumstances
of the case.
v) To award cost of these proceedings to the petitioner.
vi) To award compensation to the petitioner for the
hardship caused to him from the state."
2. The petitioners had availed a loan of Rs.21,50,000/-
from the respondent Bank in the year 2019 by creating an
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equitable mortgage over thier property having an extent of
2.02 Ares in Re.Sy.No.106/2 of Kuttikattoor Village, Kozhikode
Taluk, Kozhikode District. 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 Bank submits that, as of
today, the total overdue amount is Rs.7,27,796/- and the total
outstanding amount is Rs.33 lakhs. He further submits that,
if the petitioners pay the substantial amount upfront and the
remaining amount in few installments, as this Court may fix,
the respondent Bank shall regularise the loan account of the
petitioners in terms of the loan agreement.
Considering the aforesaid stand of the respondent Bank,
the present writ petition is disposed of with following
directions:
1. The petitioners shall pay the entire overdue amount
in 10 equal monthly installments along with regular
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installments. The 1st installment is to be paid on or before
07.12.2024 and the remaining 9 installments to be paid on or
before 7th 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 petitioners to make payment in terms of the
loan agreement.
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 with the SARFAESI proceedings against the
petitioners for realization of its dues, in accordance with law.
SD/-D. K. SINGH
JUDGE
lsn
2024:KER:88101
APPENDIX OF WP(C) 38755/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE COMPUTER EXTRACT OF
DAILY PROCEEDING OF HON'BLE DEBT RECOVERY
TRIBUNAL-I ERNAKULAM IN S.A.NO.25/2024
DATED 22/10/2024
Exhibit P2 A TRUE COPY OF THE NOTICE DATED
25/10/2024 ISSUED BY THE ADVOCATE
COMMISSIONER APPOINTED IN CMP NO.
1642/2023 PENDING BEFORE THE HON'BLE
CHIEF JUDICIAL MAGISTRATE COURT,
KOZHIKODE
