Kerala High Court
Deepak vs The Authorised Officer on 3 October, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 34530 OF 2024 1
2024:KER:74101
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. 34530 OF 2024
PETITIONER:
DEEPAK
AGED 35 YEARS
S/O THULASEEDHARAN PILLAI, KALABHAVAN, AMBALATHUMVILA,
THALACHIRA P.O., KOTTARAKARA, KOLLAM DISTRICT, PIN -
691538
BY ADVS.
K.V.ANIL KUMAR
RADHIKA S.ANIL
RESPONDENTS:
1 THE AUTHORISED OFFICER
CANARA BANK, PANAVELI BRANCH, KOLLAM DISTRICT, PIN -
691553
2 THE BRANCH MANAGER
CANARA BANK, PANAVELI BRANCH, KOLLAM DISTRICT, PIN -
691532
SRI.M. GOPIKRISHNAN NAMBIAR-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 34530 OF 2024 2
2024:KER:74101
JUDGMENT
The present writ petition has been filed for the
following prayers:
i. Issue a writ of mandamus or any other appropriate writ,
order or direction, commanding the respondents not to
initiate any further proceedings on Ext-P1 Possession Notice
including sale of the petitioners' 1.21 Ares in Re-Sy No.
358/18-2 of Chakkuvarakkal Village with respect to the
loans from the 2nd respondent Bank, and to permit him to
repay the overdue amount as installments and regularize
the loan;
ii. Issue a writ of mandamus or any other appropriate writ,
order or direction, demanding the respondents to furnish the
statement of accounts showing the exact amount repayable
by the petitioner towards the loan amount;
iii. Grant such other reliefs to the petitioner, as this Hon'ble
Court may deem fit, in the interest of justice and
iv. Dispense with the translation of the documents produced
in the vernacular language.
2. The petitioner had availed two loans of Rs.10,00,000 on
05.01.2018 and Rs.2,55,000/- on 23.07.2020 respectively from the
respondent Bank by creating an equitable mortgage over his property
having an extent of 1.21 Ares in Re.Sy.No.358/18-2 of Chakkuvarakkal
Village. The petitioner has committed defaults in making repayment of
the loan amount and therefore, the Bank after classifying the loan account
of the petitioner as Non-Performing Asset has proceeded under the
provisions of the SARFAESI Act and Rules made thereunder.
2024:KER:74101
4. Smt.Akhila Nambiar, the learned counsel for the respondent
Bank submits that as of today, the outstanding amount is Rs.9,46,000/-.
The Bank further submits that if the petitioner makes the substantial
upfront payment and the remaining amount in few installments, as this
Court may fix, the respondent Bank shall regularise the loan account of
the petitioner for making repayment in terms of the loan agreement.
Considering the aforesaid facts and submissions of the learned
counsel for the respondent Bank, the present Writ Petition is disposed of
with the following terms:
i) The petitioner shall pay Rs.2 lakhs on or before 15.10.2024 and
the remaining outstanding amount in 12 equal monthly installments along
with future interest if any. The 1st installment is to be paid on or before
15.11.2024 and remaining 11 installments on or before 15th day of each
succeeding month.
ii) In case of failure to make payment of Rs.2 lakhs or any other
installments as directed above, the respondent Bank shall be free to
proceed with the SARFAESI proceedings against the petitioner for
realization of its dues, in accordance with law.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
2024:KER:74101
PPENDIX OF WP(C) 34530/2024
PETITIONER EXHIBITS
Exhibit-P1 A TRUE COPY OF THE POSSESSION NOTICE DATED
09.09.2024 ISSUED BY THE 1ST RESPONDENT
