Kerala High Court
Omana.S vs The Branch Manager on 25 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 37631 OF 2024
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2024:KER:79975
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. 37631 OF 2024
PETITIONERS:
1 OMANA.S,
AGED 56 YEARS
W/O.SUGUNAN, SUNITH BHAVAN, VENKULAM, EDAVA P.O,
THIRUVANANTHAPURAM, PIN - 695311
2 SONIYA.O.S.,
AGED 41 YEARS
D/O. SUGUNAN, SUNITH BHAVAN, VENKULAM, EDAVA P.O,
THIRUVANANTHAPURAM – 695311 NOW RESIDING AT DREAM
HOME, ELAKOMON P.O, AIYOOR, VARKALA, THIRUVANANTHAPURAM, PIN
- 695310
BY ADVS.
PRATHEESH.P
ANJANA KANNATH
MARIYA JOSE
RESPONDENTS:
1 THE BRANCH MANAGER,
INDIAN OVERSEAS BANK, AYROOR BRANCH, VARAKLA,
THIRUVANANTHAPURAM, PIN - 695310
2 THE AUTHORIZED OFFICER,
INDIAN OVERSEAS BANK, REGIONAL OFFICE, NEAR GPO, STATUE
JUNCTION, THIRUVANANTHAPURAM, PIN - 965001
SRI.SUNIL SHANKAR-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Dated this the 25th day of October, 2024
The present Writ Petition has been filed seeking the
following prayers:
i. Issue a writ of mandamus or any other appropriate writ
order or direction, commanding the respondents to grant
10 equal monthly installments to clear the EMI arrears
so as to regularize the loan.
ii. To grant such other reliefs this Hon'ble Court deems fit
and proper in the facts and circumstances of the case.
2. The son of the 1st petitioner had availed a loan of
Rs.62,00,000/- from the respondent bank in the year 2019.
The petitioners are the sureties for the said loan. The said
loan liability has to be discharged along with interest up to
2041. The son of the 1 st petitioner has defaulted in repaying
the loan taken from the respondent bank. Therefore, the
bank, after classifying the loan account as NPA, has
proceeded under the provisions of the SARFAESI Act and
Rules made thereunder.
3. The learned counsel for the bank submits that if the
son of the 1st petitioner makes payment of substantial
WP(C) NO. 37631 OF 2024
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amount upfront and remaining overdue amount in few
instalments, along with the regular instalments, the bank
shall regularize the loan account of the son of the 1 st
petitioner. As on today, the overdue amount is Rs.4,50,000/-
and the total outstanding amount was Rs.69,05,022/-.
4. Considering the said stand of the learned counsel for
the bank, the present writ petition is disposed of in the
following terms:
i. The son of the 1st petitioner shall pay an upfront
amount of Rs.1,00,000/- along with one regular
instalment on or before 15.11.2024 and the
remaining overdue amount in 6 equal monthly
instalments, along with the regular instalments.
The 1st instalment is to be paid on or before
15.12.2024, and the remaining 5 instalments on
or before the 15 th day of each succeeding month.
ii. Once the son of the 1st petitioner pays the entire
overdue amount, the bank shall regularize the
loan account of the petitioner.
iii. In case of failure to make payment of
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Rs.1,00,000/- or any subsequent instalments as
directed above, the bank shall be free to proceed
further against the petitioners for realizing the
outstanding loan amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
D. K.SINGH
JUDGE
AP
WP(C) NO. 37631 OF 2024
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APPENDIX OF WP(C) 37631/2024
PETITIONER EXHIBITS
Exhibit P1 THE COPY OF THE NOTICE ISSUED BY THE 1ST
RESPONDENT U/S 13(2) OF SARFAESI ACT DATED
8.1.2024 TO THE 1ST PETITIONER
Exhibit P2 THE COPY OF THE ORDER IN M.C NO. 736/2024 DATED
3.9.2024
Exhibit P3 THE COPY OF THE REPRESENTATION FILED BY THE 2ND
PETITIONER BEFORE THE 1ST RESPONDENT DATED
24.10.2024
