Kerala High Court
Anil vs The Kerala State Co-Op Bank Perinjanam ... on 17 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
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WP(C)No. 36452 OF 2024
2024:KER:77330
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. 36452 OF 2024
PETITIONER:
ANIL,
AGED 61 YEARS
S/O.SANKARAN, MANNAMPARAMBIL HOUSE,
CHANTHRAPPINNI DESOM, CHANTHAPPINNI VILLAGE,
KODUNGALLORE TALUK, THRISSUR DISTRICT,
PIN - 680 687.
BY ADVS.
N.L.BITTO
MITHUL T ANTO
RESPONDENTS:
1 THE KERALA STATE CO-OP BANK PERINJANAM BRANCH,
REP. BY ITS MANAGER, PERINJANAM P.O.,
KODUNGALLORE TALUK, THRISSUR DISTRICT,
PIN - 680 686.
2 AUTHORISED OFFICER,
THE KERALA STATE CO-OP BANK PERINJANAM BRANCH,
PERINJANAM P.O., KODUNGALLORE TALUK, THRISSUR
DISTRICT, PIN - 680 686.
BY ADV. K.S. ARUN KUMAR- STANDING COUNSEL.
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. 36452 OF 2024
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D. K. SINGH, J.
--------------------------
W.P.(C) No. 36452 of 2024
-------------------------
Dated this the 17th day of October, 2024
JUDGMENT
1. The present writ petition has been filed for the following
reliefs;
i) Issue a writ of Mandamus or any other appropriate writ,
order or direction commanding the respondents 1 and 2,
to provide opportunities for the petitioner to either
regularize the loan account with regarding Ext-P1 and P2
or permit him to liquidate the liability by way of
instalments possible, and till such time not to initiate any
further proceedings on the strength of Ext-P1 to P3 in the
interest of justice.
AND
ii) To pass any such or further orders as the petitioner
may seek and this Hon'ble Court deem fit to grant.
2. The petitioner had availed two loans of Rs. 3,00,000/- and Rs.
10,00,000/- in the years 2016 and 2020 respectively from the
respondent Bank which is to be repaid in equal monthly
installments. However, the petitioner had committed defaults in
making repayment of the loans 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 proceeded further
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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, the total overdue amount in respect of
both the loans is Rs. 10,96,780/- and, if the petitioner makes
substantial upfront payment along with one regular installment in
respect of both the loan account and remaining overdue amount in
few installments along with regular installments the Bank shall
regularize the loan accounts of the petitioner for making payment
in terms of the loan agreement.
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 Rs.
2,00,000/- along with one EMI each in respect of
both the loan account on or before 15.11.2024
and remaining overdue amount in ten equal
monthly installments along with regular
installments of both the loan accounts.
(ii) The first installment as directed above is
to be paid on or before 15.12.2024 and the
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remaining nine installments on or before the
fifteenth day of each succeeding month.
(iii) In case of failure to make payment of Rs.
2,00,000/- along with one EMI each in respect of
both the loan accounts or 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. 36452 OF 2024
2024:KER:77330
APPENDIX OF WP(C) 36452/2024
PETITIONER'S EXHIBITS
Exhibit-P1 A TRUE COPY OF THE 13(2) NOTICE UNDER
SARFAESI ACT ISSUED BY THE RESPONDENTS
DATED 22/3/2022.
Exhibit-P2 A TRUE COPY OF THE 13(2) NOTICE UNDER
SARFAESI ACT ISSUED BY THE RESPONDENTS
DATED 8/3/2022.
Exhibit-P3 A TRUE COPY OF THE NOTICE FOR TAKING
POSSESSION ISSUED BY THE COMMISSIONER
DATED 3/10/2024.
