Kerala High Court
Najida vs The Manager, The Kerala State ... on 22 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
2024:KER:78606
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
TUESDAY, THE 22ND DAY OF OCTOBER 2024 / 30TH ASWINA, 1946
WP(C) NO. 35582 OF 2024
PETITIONER:
NAJIDA,
AGED 35 YEARS
W/O NOUSIF KONARI, KONARI HOUSE, KODAKKAD,
ARIYALLUR, KODAKKAD P.O, MALAPPURAM DISTRICT, PIN
- 676319
BY ADVS.
RAHMATHULLAH.M
AYISHA T.S.
RESPONDENTS:
1 THE MANAGER, THE KERALA STATE CO-OPERATIVE BANK
LTD.
(ERASTWHILE MDC BANK) ATHANIKKAL
BRANCH,MALAPPURAM DISTRICT,KERALA, PIN - 676505
2 THE AUTHORISED OFFICER,
THE KERALA STATE CO-OPERATIVE BANK LTD.,
(ERASTWHILE MDC BANK) ATHANIKKAL BRANCH,
MALAPPURAM DISTRICT, KERALA, PIN - 676505
BY ADV GILBERT GEORGE CORREYA
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 22.10.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C).No.35582 of 2024
2024:KER:78606
2
JUDGMENT
(Dated this the 22nd day of October, 2024)
The petitioner had taken a term loan of
Rs.30,00,000/- by mortgaging her property to the
respondent Bank.
2. The petitioner has committed default in repaying
the loan amount as per the terms of the loan agreement
and therefore, the Bank, after classifying the petitioner's
loan account as NPA, has proceeded against the petitioner
under the provisions of the SARFAESI Act and Rules made
thereunder to realize its outstanding dues.
3. The learned counsel for the petitioner submits
that the petitioner is not a willful defaulter and he wants to
make the payment of the outstanding dues along with E.M.I
provided the petitioner is granted some time for making
payment.
4. The learned counsel for the respondent Bank on
instructions submits that as of today, the overdue amount
is Rs.4,36,020/-. He is further submits that if the petitioner
2024:KER:78606
makes substantial upfront payment along with one regular
E.M.I, and remaining overdue amount in few instalments as
this Court may fix along with the regular instalments, the
Bank shall not proceed further under the provisions of the
SARFAESI Act and Rules made thereunder.
5. Considering the aforesaid stand of the
respondent Bank, the present writ petition is disposed of on
the following terms:
i) The petitioner shall pay Rs.1,00,000/- along with
one regular instalment on or before 15.11.2024 and the
remaining overdue amount in six equal monthly instalments
along with the regular instalments.
ii) The 1st instalment is to be paid on or before
15.12.2024 and the remaining five instalments on or before
15th day of each succeeding month.
iii) In case of failure to make payment of
Rs.1,00,000/- along with one regular instalment or any
other instalments as directed above, the Bank shall be free
to proceed further against the petitioner to realize its
outstanding dues.
2024:KER:78606
iv) If the petitioner makes payments as directed
above, the Bank shall regularize the loan account of the
petitioner for making further payments in terms of the loan
agreement.
Sd/-
D. K. SINGH
JUDGE
Mms
2024:KER:78606
APPENDIX OF WP(C) 35582/2024
PETITIONER'S EXHIBITS
Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE
DATED 26.09.2024 ISSUED BY THE BANK TO
THE PETITIONER ALONG WITH ITS ENGLISH
TRANSLATION
