Kerala High Court
Seema Shibu vs Axis Bank Limited on 3 October, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 34216 OF 2024
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2024:KER:73901
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
THURSDAY, THE 3RD DAY OF OCTOBER 2024 / 11TH ASWINA, 1946
WP(C) NO. 34216 OF 2024
AGAINST THE ORDER/JUDGMENT DATED 12.04.2024 IN MC NO.244 OF
2024 OF CHIEF JUDICIAL MAGISTRATE ,KOTTAYAM ARISING OUT OF THE
ORDER/JUDGMENT DATED IN SA NO.359 OF 2024 OF DEBT RECOVERY
TRIBUNAL- 2, ERNAKULAM
PETITIONERS:
1 SEEMA SHIBU
AGED 43 YEARS
KURUMULLILTHARA, TV PURAM P O, VAIKOM, KOTTAYAM,
KERALA, PIN - 686606
2 SHIBU T P
AGED 50 YEARS
KURUMULLILTHARA, TV PURAM P O, VAIKOM P O, THIRUMANI
VENKITA PURAM, KOTTAYAM DISTRICT, KERALA, PIN - 686606
BY ADV ADIL.M.H
RESPONDENT:
AXIS BANK LIMITED
AUTHORIZED OFFICER, AXIS BANK LIMITED, RETAIL ASSET
CENTRE, 5TH FLOOR, RAC, CHICAGO PLAZA, RAJAJI ROAD,
ERNAKULAM,KOCHI, PIN - 682035
BY ADVS.
P.PAULOCHAN ANTONY P
SREEJITH K.(K/380/2005)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Dated this the 3rd day of October, 2024
The petitioners have obtained a housing loan of
Rs.9,00,000/- from the respondent bank. The tenure for
repayment of the loan is up to 2043. The petitioners
have committed default in serving the loan account and
therefore, the bank after classifying the petitioners'
loan account as NPA, has proceeded under the
provisions of the SARFAESI Act and Rules made
thereunder.
2. Against the proceedings under the provisions of
the SARFAESI Act and Rules made thereunder, the
petitioners have approached the Debts Recovery
Tribunal -II, Ernakulam, by filing S.A No.359/2024.
Vide order dated 29.05.2024 in Ext.P4, the DRT
directed the petitioners to pay Rs.2,00,000/- in two
instalments. The 1st instalment was to be paid on or
before 29.06.2024 and 2nd instalment on or before
29.07.2024. The petitioners have not complied with the
said interim order. Now, they are approached this
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Court by filing this writ petition in following prayers.
i. Issue a writ of mandamus or any other appropriate
writ or order commanding the respondent bank to
permit the petitioner to pay off the defaulted
arrears, in twenty-five monthly installments along
with the regular installments.
ii. Issue a writ of mandamus or any other appropriate
writ or order restraining the respondent from
proceeding further in pursuance to the issuance of
Exhibit.P2 issued u/s 13(4) of the SARFAESI Act so
as to the enable the petitioner to pay off the
defaulted arrears in installments along with the
regular installments. And
iii. To pass such other orders or reliefs as this Hon'ble
Court deems fit in the interest of justice.
4. The learned counsel for the respondent bank
submits that as on today, the total overdue amount is
Rs.3,29,708/- and the total outstanding amount is
Rs.11,96,282/-. It is further submitted that despite non
compliance of order passed by the DRT and pendency
of the S.A, the bank shall accept the overdue amount, if
it is paid by the petitioners in few instalments as this
Court may direct. If the petitioners pay the overdue
amount as per the direction of this Court, the bank
shall regularize loan account of the petitioners for
making payment in terms of the loan agreement
5. Considering the aforesaid stand of the learned
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counsel for the bank, the present writ petition is
disposed of in the following terms:
i. The petitioners shall pay the overdue amount of
Rs.3,29,708/- in 8 equal monthly instalments
along with the regular instalments. The 1st
instalment is to be paid on or before 15.10.2024
and remaining 7 instalments on or before 15 th
day of each succeeding month.
ii. After making the payment of the entire overdue
amount along with the regular instalments as
mentioned above, the petitioners shall continue
to pay the regular instalments in terms of the
loan agreement till the entire loan liability is
discharged.
iii. After payment of the entire overdue amount, the
bank shall regularize the loan account of the
petitioners.
iv. In case of failure to make payment of 1 st
instalment or any subsequent instalments as
directed above, the respondent financial
company shall be free to proceed further with
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SARFAESI proceedings against the petitioner for
realizing the outstanding loan amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 34216 OF 2024
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APPENDIX OF WP(C) 34216/2024
PETITIONER EXHIBITS
Exhibit-P1 THE SECOND PETITIONER'S DRIVING LICENSE IS
PRODUCED HEREWITH AND MARKED AS EXHIBIT-P1
Exhibit-P 2 THE POSSESSION NOTICE ISSUED BY THE
RESPONDENT BANK ON 24/02/2023 UNDER SECTION
13(4) OF THE SARFAESI ACT IS PRODUCED
HEREWITH AND MARKED AS EXHIBIT-P2.
Exhibit -P3 A TRUE TYPED COPY OF THE ADVOCATE COMMISSION
WARRANT ISSUED BY THE CHIEF JUDICIAL
MAGISTRATE COURT, KOTTAYAM, DATED 15/03/2024
IN CASE NUMBER MC 244/2024 FOR THE
APPOINTMENT OF AN ADVOCATE COMMISSIONER TO
TAKE POSSESSION OF THE PETITIONERS' PROPERTY
IS PRODUCED HEREWITH AND MARKED AS EXHIBIT-
P3.
Exhibit-P4 A TRUE CERTIFIED COPY OF THE PROCEEDINGS FROM
DEBT RECOVERY TRIBUNAL-2, ERNAKULAM, IN SA
359/2024 DATED 29/05/2024, IS PRODUCED
HEREWITH AND MARKED AS EXHIBIT-P4.
