Kerala High Court
Vijaya Kumar vs Authorized Officer on 30 October, 2024
2024:KER:81192
WP(C) NO. 37613 OF 2024
-1-
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
WEDNESDAY, THE 30TH DAY OF OCTOBER 2024 / 8TH KARTHIKA, 1946
WP(C) NO. 37613 OF 2024
PETITIONER:
VIJAYA KUMAR,
AGED 47 YEARS
S/O. DAYALAN, THIRUVATHIRA, CHIRAYANIKKARA,
VAZHICHAL.P.O, OTTASEKHARAMANGALAM,
THIRUVANANTHAPURAM, PIN - 695125
BY ADV M.R.SARIN
RESPONDENT:
AUTHORIZED OFFICER,
KERALA STATE CO OPERATIVE BANK LTD,
POOJAPPURA BRANCH, CENTRAL PRISON COMPOUND,
NEAR CENTRAL PRISON COMPOUND, THIRUVANANTHAPURAM,
PIN - 695012
BY ADV THOMAS ABRAHAM
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
2024:KER:81192
WP(C) NO. 37613 OF 2024
-2-
JUDGMENT
(Dated this the 30th day of October 2024)
The petitioner availed a housing loan of Rs.20,00,000/-
from the respondent-bank in 2018 for a period of 15 years. Due to
Covid-19, he faced a huge financial crisis, and thereby he could not
remit the repayments in time. Therefore, the Bank initiated
proceedings under the SARFAESI Act, 2002, and Ext.P1 notice was
issued under Section 13(2) of the Act. Thereafter, the Bank
approached the CJM, Thiruvananthapuram, and an Advocate
Commissioner was appointed to take physical possession of the
secured assets. On 14.10.2024, the Commissioner issued a notice
that she would be taking possession of the scheduled property on
02.11.2024 at 3.00 pm. Aggrieved by the said proceedings, the
petitioner approached this Court with a prayer to grant instalments
to wipe out the liability.
2024:KER:81192
WP(C) NO. 37613 OF 2024
2. The Standing Counsel for the respondent-bank on
instructions submits that the overdue amount as of 30.09.2024
comes to Rs.9,52,205/-.
Having heard the counsel for the petitioner as well as the
Standing Counsel for the respondent, I deem it appropriate to
dispose of the writ petition as follows:
i) The petitioner shall pay a lumpsum amount of
Rs.1,00,000/- (Rupees One Lakh only) on or before
30.11.2024.
(ii) After making the payment of Rs.1,00,000/- as directed
above, the petitioner shall pay the remaining overdue
amount in ten equal monthly instalments, along with
regular installments.
(iii) The first installment is to be paid on or before
01.01.2025, and the remaining nine instalments on or
before the 5th day of each succeeding month along
2024:KER:81192
WP(C) NO. 37613 OF 2024
with regular installments.
(iv) After making the payment of the entire overdue
amount along with regular instalments, the petitioner
shall continue to pay the regular instalments till the
entire loan liability is discharged.
(v) In case of failure to make payment of the lumpsum
amount of Rs.1,00,000/- or any of the instalments as
directed above, the Bank shall be free to take
possession of the secured assets. The Bank shall
proceed against the petitioner in accordance with the
law to realize its dues.
(vi) Till such time, all coercive proceedings against the
secured assets shall be deferred.
Sd/-
BASANT BALAJI
JUDGE
JS
2024:KER:81192
WP(C) NO. 37613 OF 2024
APPENDIX OF WP(C) 37613/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE ISSUED
BY THE RESPONDENT BANK DATED 6.12.2022
Exhibit P2 THE TRUE COPY OF THE ADVOCATE COMMISSIONER
NOTICE ISSUED BY THE ADV SOWMYA RAJAGOPAL
IN M.C 758/2024 DATED 14.10.2024 IS PRODUCED
HEREIN WITH AND MARKED AS EXHIBIT P2
Exhibit P2[a] THE TRUE COPY OF THE ENGLISH TRANSLATION OF
EXT P2
Exhibit P3 THE TRUE COPY OF THE IDENTITY CARD OF THE
PETITIONER'S WIFE IN REGIONAL CANCER CENTRE
