Kerala High Court
Ashokan M.S vs The Manager on 25 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 35077 OF 2024
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2024:KER:80034
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. 35077 OF 2024
PETITIONER:
ASHOKAN M.S.,
AGED 63 YEARS
S/O. SANKURU, MALLISSERY HOUSE, P.O. MULANKUNNATHUKAVU,
THRISSUR DISTRICT, PIN - 680581
BY ADV V.N.RAMESAN NAMBISAN
RESPONDENTS:
1 THE MANAGER,
KERALA STATE CO-OPERATIVE BANK LIMITED, ATHANI BRANCH,
THRISSUR, PIN - 680581
2 THE KERALA STATE CO-OPERATIVE BANK LIMITED,
ATHANI BRANCH, THRISSUR, REPRESENTED BY ITS AUTHORIZED
OFFICER, PIN - 680581
SRI.K.S. ARUN KUMAR-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 35077 OF 2024
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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. To issue a writ of mandamus or any other appropriate
writ, order or direction and command the respondents to
adjust all the amount paid by the petitioner as evident
from Exts-P2 and P3 and re-settle the due amount and
grant sufficient time to repay the said amount;
ii. to declare that the mortgaged property and the house
situated in R.S. No.432/2-12 of Killannur Village,
Thrissur Taluk and District is valued around Rs.1 Crore
and as evident from Ext-P2 Statement of Account after
adjusting the amount involved in Ext-P3, the amount due
shall be below Rs.13 lakhs; and
iii. to grant such other and further relief as this Honorable
Court may consider just and proper in the facts and
circumstances of the case.
2. The petitioner had availed a housing loan of
Rs.7,00,000/- from the respondent bank in the year 2016.
The said loan liability has to be discharged along with
interest up to 2027. The petitioner has created equitable
mortgage over the property having an extent of 13 Cents of
land with the house comprised in Re.Sy. No.432/2-12 of
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Killannur Village, Thrissur Taluk, Thrissur District. The
petitioner has defaulted in repaying the loan taken from the
respondent bank. Therefore, the bank, after classifying the
petitioner's 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
petitioner makes payment of substantial amount upfront
and the remaining overdue amount in few instalments,
along with the regular instalments, the bank shall
regularize the loan account of the petitioner. As on today,
the overdue amount is Rs.7,00,000/- and the total
outstanding amount is Rs.12,69,241/-.
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 petitioner shall pay an upfront amount of
Rs.2,00,000/- along with one regular instalment
on or before 30.11.2024 and the remaining
overdue amount in 10 equal monthly instalments,
along with the regular instalments. The 1 st
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instalment is to be paid on or before 15.12.2024,
and the remaining 9 instalments on or before the
15th day of each succeeding month.
ii. Once the 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
Rs.2,00,000/- or any subsequent instalments as
directed above, the bank shall be free to proceed
further against the petitioner 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. 35077 OF 2024
2024:KER:80034
APPENDIX OF WP(C) 35077/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 22.01.2019 ISSUED
UNDER SECTION 13(2) OF THE SARFAESI ACT TO THE
PETITIONER BY THE THRISSUR DISTRICT CO-OPERATIVE
BANK ALONG WITH ITS ENGLISH TRANSLATION.
Exhibit P2 TRUE COPY OF THE STATEMENT OF ACCOUNT DATED
23.09.2024 IN RESPECT OF THE LOAN ACCOUNT NO.
146460356001763 ISSUED BY THE 1ST RESPONDENT TO
THE PETITIONER.
Exhibit P3 TRUE COPY OF THE CHALAN NO.5 DATED 26.09.2024 OF
THE 1ST RESPONDENT.
