Kerala High Court
Varghese Cheriyan vs Kerala State Cooperative Bank Ltd on 25 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 37668 OF 2024
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2024:KER:80028
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. 37668 OF 2024
PETITIONER:
VARGHESE CHERIYAN,
AGED 58 YEARS
S/O CHERIYAN, KARIKKATHIL HOUSE, EROOR P.O., EROOR VILLAGE,
PUNALUR TALUK, KOLLAM DISTRICT, PIN - 691312
BY ADV A.SANIL KUMAR
RESPONDENTS:
1 KERALA STATE COOPERATIVE BANK LTD,
REPRESENTED BY ITS BRANCH MANAGER, EROOR BRANCH, EROOR P.O.,
KOLLAM DISTRICT, PIN - 691312
2 AUTHORISED OFFICER,
KERALA STATE COOPERATIVE BANK ,REGIONAL OFFICE :
THIRUVANANTHAPURAM,P.B. NO.5122, EAST FORT, FORT
P.O.,THIRUVANANTHAPURAM DISTRICT, PIN - 695023
SRI.A.S.P.KURUP-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 in the nature of mandamus or any other
appropriate writ, order or direction commanding the
respondents to permit the petitioner to pay off the loan
overdues in Consumption Loan A/c
No.116760356000564 in a phased manner and to
regularize the loan account.
II. Issue any such other appropriate writ, order or direction
as this Hon'ble Court deems fit and proper considering
the circumstances of the case in the interest of justice
2. The petitioner had availed a Consumption loan of
Rs.5,00,000/- from the respondent bank in the year 2016.
The said loan liability has to be discharged along with
interest up to 2026. 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
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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.2,19,952/- and the total
outstanding amount is Rs.5,54,221/-.
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.50,000/- 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 petitioner pays the entire overdue
amount, the bank shall regularize the loan
account of the petitioner.
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iii. In case of failure to make payment of Rs.50,000/-
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. 37668 OF 2024
2024:KER:80028
APPENDIX OF WP(C) 37668/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 16.08.2024
ISSUED BY THE 2ND RESPONDENT UNDER SECTION 13(2)
OF THE SARFAESI ACT, ALONG WITH ITS ENGLISH
TRANSLATION
Exhibit P2 TRUE COPY OF THE DEATH CERTIFICATE DATED
24.05.2021 ISSUED BY THE REGISTRAR OF BIRTHS &
DEATHS, YEROOR GRAMA PANCHAYAT
Exhibit P3 TRUE COPY OF THE MEDICAL PRESCRIPTION DATED
29.10.2018 ISSUED FROM SREE CHITRA TIRUNAL
INSTITUTE OF MEDICAL SCIENCES AND TECHNOLOGY,
TRIVANDRUM
Exhibit P4 TRUE COPY OF THE POSSESSION NOTICE DATED
19.10.2024 ISSUED BY THE 2ND RESPONDENT ALONG
WITH ITS ENGLISH TRANSLATION
