Kerala High Court
Sunilkumar. C.P vs Bank Of Baroda on 30 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
2024:KER:72537
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
MONDAY, THE 30TH DAY OF SEPTEMBER 2024 / 8TH ASWINA, 1946
WP(C) NO. 34077 OF 2024
PETITIONER:
SUNILKUMAR C. P.,
AGED 44 YEARS, S/O. LATE PUSHKARAN,
CHINNAGATH HOUSE, POOVANCHIRA P. O.,
PANANCHERY VILLAGE ,THRISUR TALUK,
THRISSUR DT., PIN - 680652.
BY ADVS.
SMT. M. R. REENA
SRI. P. S. SUJETH
RESPONDENTS:
BANK OF BARODA,
MANNUTHI BRANCH, REP. BY ITS AUTHORISED OFFICER,
ATLAS BUILDING, 1ST FLOOR,MARKET ROAD,
MANNUTHI THRISSUR DT., PIN - 680651.
BY ADV.
SRI. K. ANAND - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 34077 OF 2024 2
2024:KER:72537
DINESH KUMAR SINGH, J.
--------------------------
W.P.(C) No. 34077 of 2024
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Dated this the 30th day of September, 2024
JUDGMENT
1. The present writ petition has been filed for the following
reliefs;
I. Issue a writ, order or direction in the nature
of Mandamus or other appropriate writ
directing the respondent not to proceed any
further under Exhibit -P1 , the Notice of the
Advocate Commissioner dated 13-09-2024.
II. Issue a Writ, Order or Direction in the
nature of Mandamus or other appropriate Writ
directing the respondent to consider the Ext-P2
representation and may be regularized the loan
account by paying the overdue amount in
maximum equal monthly installments.
III. Issue other order or direction which this
Hon'ble Court may deem fit and proper to
grand in the circumstances of the case .
And
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IV. The petitioner is not contesting the case on
merit but seeking only regularization of the
loan account by paying the overdue amount in
maximum monthly installments.
2. The petitioner had obtained a term loan from the
respondent Bank for an amount of Rs. 12,00,000/-. For obtaining
the loan, the petitioner had mortgaged title deed of 5 cents of
property in Pananchery Village and a residential building thereon.
However, the petitioner had committed defaults in making
repayment of the loan advanced by the respondent Bank as per
the loan agreement and, therefore, the Bank after classifying the
loan account of the petitioner as NPA has proceeded further
against the petitioner under the provisions of the SARFAESI Act
and the Rules made thereunder to realise its outstanding dues.
3. The learned Counsel for the respondent Bank on
instructions submits that, as on today, the overdue amount is Rs.
7,41,000/- and the total outstanding amount is Rs. 20,43,000/-.
The learned Counsel for the respondent Bank further submits
that if the petitioner pays substantial amount upfront and
remaining overdue amount in few installments along with regular
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installments as this Court may direct, then the Bank shall
regularise the loan account of the petitioner for making
repayment in terms of the loan agreement.
4. Considering the above submission of the learned Counsel
for the respondent Bank, the present writ petition is disposed of
on the following terms;
(i) The petitioner shall pay Rs. 3,00,000/- to
the Bank on or before 15.10.2024 and
remaining overdue amount in six equal monthly
installments along with regular installments.
(ii) The first installment is to be paid on or
before 15.11.2024 and remaining five
installments on or before the fifteenth day of
each succeeding month thereafter.
(iii) If the petitioner makes payment as
directed above, the Bank shall regularise the
loan account of the petitioner for making
payment in terms of the loan agreement.
(iv) If the petitioner fails to make payment
of Rs. 3,00,000/- or any of the installments as
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directed above, the respondent Bank will be
free to proceed further against the petitioner
to realise its outstanding dues.
Sd/-
DINESH KUMAR SINGH
JUDGE
Svn
2024:KER:72537
APPENDIX OF WP(C) 34077/2024
PETITIONER'S EXHIBITS
EXHIBIT P1 A TRUE COPY OF THE NOTICE OF THE ADVOCATE
COMMISSIONER DATED 13-09-2024 WITH ENGLISH
TRANSLATION
EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED
20-09-2024 SENT BY THE PETITIONER
