Kerala High Court
Faisal.C.M vs The Authorised Officer, Csb Bank ... on 25 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
2024:KER:79835
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. 37530 OF 2024
PETITIONERS:
1 FAISAL.C.M.,
AGED 46 YEARS
S/O. MOIDU, VENTHANATTAYIL HOUSE, KALOOR POST,
VADAKKEKAD,THRISSUR DISTRICT, PIN - 679562
2 SURFUNNEESA,
AGED 40 YEARS
W/O. FAISAL.C.M, VENTHANATTAYIL HOUSE, KALOOR
POST, VADAKKEKAD, THRISSUR DISTRICT, PIN - 679562
3 ANWAR BIN ABUBACKER,
AGED 40 YEARS
S/O. ABUBACKER, AZHIYATHE
HOUSE,KOTTAPPADI.P.O,GURUVAYUR, CHAVAKKAD,
THRISSUR DISTRICT, PIN - 680505
4 NABEEZA
AGED 65 YEARS
W/O MOIDU, VENTHANATTAYIL HOUSE, KALOOR POST,
VADAKKEKAD, THRISSUR DISTRICT, PIN - 679562
BY ADVS.
A.N.SATHISH KUMAR
SUJATHA E.R.
RESPONDENTS:
1 THE AUTHORISED OFFICER, CSB BANK LIMITED,
FORMERLY THE CATHOLIC SYRIAN BANK LIMITED, LEGAL
CELL HO ARD, CSB BHAVAN,2ND FLOOR, ST .MARY'S
COLLEGE ROAD, THRISSUR DISTRICT, PIN - 680020
W.P.(C).No.37530 of 2024
2024:KER:79835
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2 THE BRANCH MANAGER,
CSB BANK LIMITED, KUNNAMKULAM BRANCH, THRISSUR
DISTRICT, PIN - 680503
OTHER PRESENT:
SRI.MADHU RADHAKRISHNAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 25.10.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C).No.37530 of 2024
2024:KER:79835
3
JUDGMENT
(Dated this the 25th day of October, 2024)
The petitioners had availed an overdraft facility of
Rs.48,00,000/- from the respondent Bank in the year 2020.
2. The petitioners had committed serious default in
repaying the loan amount as per the terms of the loan
agreement and therefore, the Bank, after classifying the
petitioners loan account as NPA, has proceeded against the
petitioners under the provisions of the SARFAESI Act and
Rules made thereunder to realize its outstanding dues.
3. The learned counsel for the respondent Bank on
instructions submits that as of today, the total outstanding
amount is Rs.67,08,540/-. He further submits that if the
petitioners make substantial upfront payment and the
remaining outstanding amount in few instalments as this
Court may fix, the respondent Bank shall not proceed
further under the provisions of the SARFAESI Act and Rules
made thereunder.
2024:KER:79835
4. Considering the aforesaid facts, the present writ
petition is disposed of on the following terms:
i) The petitioners shall pay Rs.15,00,000/- on or
before 15.11.2024, and the remaining outstanding amount
along with future interest, if any, in 12 equal monthly
instalments.
ii) The 1st instalment is to be paid on or before
15.12.2024 and the remaining 11 instalments on or before
15th day of each succeeding month.
iii) In case of failure to make payment of the 1 st
instalment or any other instalments as directed above, the
Bank shall be free to proceed further against the petitioners
to realize its outstanding dues.
Sd/-
D. K. SINGH
JUDGE
Mms
2024:KER:79835
APPENDIX OF WP(C) 37530/2024
PETITIONERS EXHIBITS
EXHIBIT P1 A TRUE COPY OF DEMAND NOTICE DATED
08.04.2024
EXHIBIT P2 A TRUE COPY OF POSSESSION NOTICE DATED
06.08.2024
EXHIBIT P3 A TRUE COPY OF THE SALE NOTICE DATED
18.09.2024
