Kerala High Court
Chandrika vs The Union Bank Of India on 30 October, 2024
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WP(C)No. 38226 OF 2024
2024:KER:81329
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. 38226 OF 2024
PETITIONER:
CHANDRIKA,
AGED 76 YEARS, W/O. PARAMESWARAN NAIR,
JEEVA THOLATH HOUSE, MARAMPILLY, KUNNATHUNADU,
ERNAKULAM DISTRICT, PIN - 683105.
BY ADV.
SRI. T. U. SUJITH KUMAR
RESPONDENTS:
1 THE UNION BANK OF INDIA,
REPRESENTED BY ITS AUTHORISED OFFICER &
CHIEF MANAGER, REGIONAL OFFICE, SECOND FLOOR,
UNION BANK BHAVAN, M.G ROAD,
ERNAKULAM DISTRICT, PIN - 682035.
2 THE BRANCH MANAGER,
UNION BANK OF INDIA, ATHANI BRANCH,
OPPOSITE KAMPCO, ATHANI P. O.,
ERNAKULAM DISTRICT, PIN - 683585.
BY ADVS.
SRI. ASP. KURUP - SC
SRI. SADCHITH P. KURUP
SRI. C. P. ANIL RAJ
SRI. SIVA SURESH
SMT. B. SREEDEVI
SMT. ATHIRA VIJAYAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 30.10.2024, THE COURT ON THE SAME DAY DELIVERED
THE FOLLOWING:
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WP(C)No. 38226 OF 2024
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BASANT BALAJI, J.
--------------------------
W.P.(C) No. 38226 of 2024
-------------------------
Dated this the 30th day of October, 2024
JUDGMENT
1. The petitioner had availed two credit facilities for
agricultural purposes from Union Bank of India, the 1st
respondent for an amount of Rs. 3,00,000/- and Rs. 30,00,000/-
in the year 2017 and 2018 respectively. Ext. P-1 notice under
Section 13(2) of SARFAESI Act was issued by the respondent
Bank. Even after issuance of notice under Section 13(2), since
there was no payment, notice under Section 13(4) was issued
and symbolic possession of the property was taken on
22.10.2024.
2. The learned Standing Counsel appearing for the
respondents, on instructions submits that, as of today, the total
outstanding amount comes to Rs. 51,43,150/-.
3. The counsel for the petitioner seeks indulgence of this
court to grant some installments to wipe off the outstanding
amount.
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4. Having heard the counsel appearing for the petitioner as
well as Standing counsel appearing for the respondents, I deem
it appropriate to dispose of the writ petition as follows:
i. The petitioner shall pay a lump sum of Rs.
5,00,000/- (Rupees Five lakhs only) on or before
30.11.2024.
ii. After making payment of Rs. 5,00,000/- as
directed above, the petitioner shall pay the
remaining outstanding amount in 9 equated
monthly instalments.
iii. The 1st instalment shall be paid on or before
10.12.2024. The remaining 8 instalments shall
be paid on or before the 10th day of each
succeeding month.
iv. In case of failure to make payment of the
lump sum amount of 5,00,000/- (Rupees Five
lakhs only) or any one of the instalments as
directed above, the bank shall be free to take
possession of the secured assets. The bank
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shall proceed against the petitioner in
accordance with law.
v. Till such time, all coercive proceedings
against the secured assets shall be deferred.
Sd/-
BASANT BALAJI
JUDGE
Svn
WP(C)No. 38226 OF 2024
2024:KER:81329
APPENDIX OF WP(C) 38226/2024
PETITIONER'S EXHIBITS
Exhibit-P1 A TRUE COPY OF THE DEMAND NOTICE DATED
23.07.2024 ISSUED UNDER SECTION 13(2) OF THE
SARFAESI ACT.
Exhibit-P2 A TRUE COPY OF THE RECEIPT DATED 24.09.2024
ISSUED BY THE RESPONDENT BANK.
Exhibit-P3 A TRUE COPY OF THE POSSESSION NOTICE DATED
22.10.2024 ISSUED BY THE RESPONDENT BANK.
