Kerala High Court
Banazir. A vs The Authorized Officer on 17 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
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WP(C)No. 36456 OF 2024
2024:KER:77441
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 17TH DAY OF OCTOBER 2024 / 25TH ASWINA,
1946
WP(C) NO. 36456 OF 2024
PETITIONER/S:
BANAZIR. A
AGED 44 YEARS
W/O NAZIMUDEEN, KIZHAKKEDATHU
PADINJATTATHIL,VENAD NAGAR -23, KILIKOLLUR P.O,
KOLLAM, PIN - 691004
BY ADVS.
SAJU J PANICKER
KURIAN K JOSE
RESPONDENT/S:
THE AUTHORIZED OFFICER
CHIEF MANAGER, STATE BANK OF INDIA, SMALL AND
MEDIUM ENTERPRISES CITY CENTRE, KOLLAM HEAD
P.O, KOLLAM, PIN - 691001
OTHER PRESENT:
SRI. JITHESH MENON-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 17.10.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
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WP(C)No. 36456 OF 2024
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D. K. SINGH, J.
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W.P.(C) No. 36456 of 2024
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Dated this the 17th day of October, 2024
JUDGMENT
1. The present writ petition has been filed for the following
reliefs;
i. To issue a writ of mandamus, order or direction
staying all further proceedings pursuant to Exhibit P2.
ii. To issue a writ of mandamus, order or direction
directing the respondent to allow the petitioners to
clear the arrears due to the bank in 15 monthly
installments and to regularize the loan account.
iii. Such other relief this Hon'ble court deems fit and
proper to grant in the facts and circumstances of the
case.
2. The petitioner had availed two loans; a cash credit loan of Rs.
4,00,000/- and a term loan of Rs. 12,00,000/- from the respondent
Bank in the year by mortgaging 6.34 Ares of property situated in
Re. Sy. No. 744/10, Block No. 15 of Kilikollur Village, Kollam
district. However, the petitioner had committed defaults in
making repayment of the loan advanced by the respondent Bank
as per the loan agreement and, therefore, the Bank after
classifying the loan account of the petitioner as NPA has
WP(C)No. 36456 OF 2024
2024:KER:77441
proceeded further against the petitioner under the provisions of
the SARFAESI Act and the Rules made thereunder to realize its
outstanding dues.
3. The learned Counsel for the respondent Bank on
instructions submits that, as of today, in respect of both the loans,
the total outstanding liability of the petitioner is Rs. 10,08,571/-
and, if the petitioner is willing to discharge the said liability in few
installments as this Court may direct, the Bank has no objection in
accepting the loan liability in installments as per the order passed
by this Court.
4. Considering the aforesaid stand of the respondent Bank, the
present writ petition is disposed of on the following terms;
(i) The petitioner shall pay the entire
outstanding liability of Rs. 10,08,571/- along
with future interest, if any, in six equal monthly
installments.
(ii) The first installment as directed above
is to be paid on or before 07.11.2024 and the
remaining five installments on or before the
seventh day of each succeeding month.
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(iii) In case of failure to make payment of
the first installment or any of the subsequent
installments as directed above, the
respondent Bank shall be free to proceed
further against the petitioner in accordance
with the law to realise its outstanding dues.
Sd/-
D. K. SINGH
JUDGE
Svn
WP(C)No. 36456 OF 2024
2024:KER:77441
APPENDIX OF WP(C) 36456/2024
PETITIONER EXHIBITS
EXHIBIT P 1 THE TRUE COPY OF THE POSSESSION
NOTICE DATED 17.02.2024 ISSUED BY
THE RESPONDENT BANK .
EXHIBIT P 2 THE TRUE COPY OF THE NOTICE DATED
11.09.2024 ISSUED BY THE ADVOCATE
COMMISSIONER.
