Kerala High Court
Fathima vs The Bank Of Baroda on 25 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
2024:KER:79569
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
FRIDAY, THE 25TH DAY OF OCTOBER 2024 / 3RD KARTHIKA, 1946
WP(C) NO. 37068 OF 2024
PETITIONER:
FATHIMA,
AGED 53 YEARS
W/O. IBRAHIM, KOLACHIYADUKKAM HOUSE,, EDANEER
P.O, KASARAGOD DISTRICT, PIN - 671541
BY ADVS.
RESHMA E.
ATHIRA V.M.
ATHEENA ANTONY
ANJITHA SANTHOSH
RESPONDENT:
THE BANK OF BARODA,
CHERKKALA BRANCH CENTRAL CITY BUILDING, CHENGALA,
CHERKKALA ,KASARAGOD DISTRICT, REP. BY ITS
AUTHORIZED OFFICER, PIN - 671541
BY ADVS.
R.REMA
SREETHU SATHYAN
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 25.10.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C).No.37068 of 2024
2024:KER:79569
2
JUDGMENT
(Dated this the 25th day of October, 2024)
The petitioner had obtained a housing loan of
Rs.7,00,000/- from the respondent Bank in the year 2017.
2. The petitioner has committed default in repaying
the loan amount as per the terms of the loan agreement
and therefore, the respondent 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 petitioner has filed this writ petition
impugning the SARFAESI proceedings and liberty to pay the
overdue amount in 12 equal monthly instalments to
regularize the loan account for making payment in terms of
the loan agreement.
4. The learned counsel for the respondent Bank on
instructions submits that as of today, the overdue amount
is Rs.1,93,066/- and the total outstanding is Rs.7,54,931/- .
He further submits that if the petitioner makes substantial
upfront payment along with one regular E.M.I and the
2024:KER:79569
remaining overdue amount in few instalments as this Court
may fix along with the regular instalments, the respondent
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.50,000/- along with
one regular E.M.I 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.50,000/- along with one regular E.M.I or any other
instalments as directed above, the respondent Bank shall
be free to proceed further against the petitioner to realize
its outstanding dues.
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iv) If the petitioner makes payments as directed
above, the respondent 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:79569
APPENDIX OF WP(C) 37068/2024
PETITIONER'S EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE POSSESSION NOTICE
DATED 04.01.2024 ISSUED BY THE
RESPONDENT BANK
EXHIBIT P2 THE TRUE COPY OF THE NOTICE DATED
14.10.2024 ISSUED BY THE ADVOCATE
COMMISSIONER IN CMP NO.3413 OF 2024
PENDING BEFORE THE FILES OF HON'BLE
CHIEF JUDICIAL MAGISTRATE COURT,
KASARAGOD
