Kerala High Court
Jamul Dev vs Authorised Officer on 3 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
2024:KER:66679
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
TUESDAY, THE 3RD DAY OF SEPTEMBER 2024 / 12TH BHADRA, 1946
WP(C) NO. 29949 OF 2024
PETITIONER :-
JAMUL DEV, AGED 38 YEARS
S/O MURALIDHARAN PILLAI, JAMUL NIVAS,
PERUMANNOOR PO, VALAKAM P O ,
KOLLAM, PIN - 691532
BY ADVS.
SYAM J SAM
SOBHA KUMARY K.
RESPONDENTS :-
1 AUTHORISED OFFICER,
LCRD,FEDERAL BANK LTD, FEDERAL TOWERS STATUE JN,
TRIVANDRUM, PIN - 691501
2 BRANCH MANAGER,
VALAKOM FEDERAL BANK BRANCH,VALAKOM KOTTARAKARA,
KOLLAM, PIN - 691532
SRI.MOHAN JACOB GEORGE-SC
WP(C) NO. 29949 OF 2024
2
2024:KER:66679
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 03.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 29949 OF 2024
3
2024:KER:66679
JUDGMENT
1. The present writ petition has been filed by the
petitioner for the following reliefs;
(i)To issue a writ of mandamus or any other
appropriate writ, order or direction to stop all the
coercive steps against her secured assets in pursuance
of Exhibit-P1 notice.
(ii). To issue a writ of mandamus or any other
appropriate writ, order or direction to the respondent
to permit petitioner to close the outstanding amount in
a phased manner.
(iii). To pass such other writ order or direction that this
Hon'ble Court may deem fit and proper in the facts and
circumstances of the case; IV. To award the costs of
this petition to the petitioner
2. The petitioner had taken a housing loan of
Rs.10,00,000/- from the respondent Bank on 16.07.2015. The
tenure for the repayment of the loan is 2025. The petitioner has
secured the loan by mortgaging his property comprised in E Survey
No.225/13 having 4.25 Ares with a building in Arackal Village.
3. The petitioner has committed default in making
repayment of the loan and therefore the Bank has classified the
WP(C) NO. 29949 OF 2024
2024:KER:66679
account of the petitioner as NPA. Thereafter, the Bank has
proceeded against the petitioner to realise its dues under the
provisions of the SARFAESI Act and the Rules made thereunder.
4. The learned counsel for the petitioner submitted that
the petitioner is willing to pay the sum, provided some time is
granted.
5. The learned Counsel for the respondent Bank submits
that the total outstanding of the loan amount is around
Rs. 9,30,124/- and the overdue amount is Rs.2,49,187/-. The
learned Counsel for the respondent Bank further submits that the
bank has given opportunity to him to repay the loan amount in few
installments along with regular installments. The Bank shall
regularise the loan account of the petitioner after receiving the
entire overdue amount along with regular installments for making
payment by the petitioner in terms of the loan agreement.
6. Considering the aforesaid stand of the respondent
Bank, the present writ petition is disposed of on the following
terms;
(i) The petitioner shall pay the overdue amount in six
WP(C) NO. 29949 OF 2024
2024:KER:66679
equal monthly installments along with regular
installments.
(ii) The first installment is to be paid on or before
07.10.2024 and the remaining five installments on
or before the seventh day of every succeeding
month.
(iii) In case of failure to make payment of the first
installment or any subsequent installment as
directed above, the respondent Bank shall be free to
proceed against the petitioner in accordance with
the law to realise its outstanding dues.
(iv) After making payment of the entire overdue
amount as directed above along with regular
installments, the petitioner shall continue to pay the
regular installments in terms of the loan agreement.
Sd/-
DINESH KUMAR SINGH
JUDGE
SMA
WP(C) NO. 29949 OF 2024
2024:KER:66679
APPENDIX OF WP(C) 29949/2024
PETITIONER EXHIBITS :-
Exhibit P1 A TRUE COPY OF THE NOTICE DATED 10-07-
2024 ISSUED BY THE FIRST RESPONDENT
