Kerala High Court
Madhusoodhanan A vs Authorised Officer on 5 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
W. P. (C) No. 27492 of 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
THURSDAY, THE 5TH DAY OF SEPTEMBER 2024 / 14TH BHADRA, 1946
WP(C) NO. 27492 OF 2024
PETITIONER/S:
MADHUSOODHANAN A,
AGED 63 YEARS
S/O APPUKUTTAN PANICKER, SUMA BHAVAN PUTHUKAVU,
VENKAVILA,PAZHAKUTTY P O, ANAND THIRUVANTHAPURAM,
KERALA, PIN - 695561
BY ADV BHAVANA K.K
RESPONDENT/S:
1 AUTHORISED OFFICER,
STATE BANK OF INDIA, RASMEC IV,1ST FLOOR, HOUSING
BOARD BUILDING, SANTHI NAGAR, THIRUVANTHAPURAM,
PIN - 695001
2 STATE BANK OF INDIA,
REPRESENTED BY THE AUTHORISED OFFICER, RASMEC IV,
1ST FLOOR, HOUSING BOARD BUILDING SANTHI NAGAR,
THIRUVANATHAPURAM, PIN - 695001
OTHER PRESENT:
SMT. S. LAKHSHMI-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 05.09.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W. P. (C) No. 27492 of 2024
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JUDGMENT
The present writ petition has been filed for the following
reliefs:-
"i) Issue a writ of mandamus or any other
appropriate writ, order or direction directing the respondent
to grant 24 monthly installments to pay entire defaulted
arrears, till that period all further proceedings including
Exhibit P2 Notice in Crl M C no 552/2024 pending before
the Chief Judicial Magistrate Court, Thiruvananthapuram
shall be kept in abeyance and reqularize loan account;
ii) Issue a writ of mandamus or any other
appropriate writ, order or direction directing the respondent
to grant 24 equal monthly installments for repayment of
entire amounts."
2. Petitioner had availed a loan of Rs. 8,00,000/- from the
respondent Bank in the year 2015. The financial assistance from
the Bank was to be discharged by the petitioner over a period of
15 years. Petitioner had created equitable mortgage of the
property consisting 2.02 acres of land in Sy. No. 386/18-1-2 in
Anad Village, Nedumangad Taluk, Thiruvananthapuram District.
Petitioner had committed default in making repayment of the loan
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and therefore the Bank, after classifying the loan account as NPA,
proceeded against the petitioner under the provisions of the
SARFAESI Act and the Rules thereunder. In compliance of the
interim order dated 01.08.2024, the petitioner had remitted Rs.
4,00,000/- on 04.09.2024. As on today, the total outstanding is
Rs. 7,13,756/- and the overdue amount is Rs. 2,61,247/-.
3. Learned counsel for the Bank submits that if the
petitioner remits the remaining overdue amount in installments
along with the regular installments, the Bank will regularize the
loan account of the petitioner for making payments in terms of the
loan agreement.
Considering the above submission, the present writ
petition is disposed of in the following terms:-
i) The petitioner shall pay the entire overdue amount in 6
equal monthly installments along with the regular installments.
The 1st installment is to be paid on or before 05.10.2024 and the
remaining 5 installments on or before the 5 th day of every
succeeding month;
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ii) In case of failure to make payment of the 1 st
installment or any subsequent installments, the Bank shall be free
to proceed against the petitioner, in accordance with law;
iii) If the petitioner pays the entire overdue amount along
with regular installments as directed above, the Bank shall
regularize the loan account of the petitioner for making payments
in terms of the loan agreement.
Sd/-
DINESH KUMAR SINGH
JUDGE
Eb
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APPENDIX OF WP(C) 27492/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE
ISSUED BY THE RESPONDENT TO THE
PETITIONER DATED 5.3.2024
Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER TO THE PETITIONER
DATED 17/7/2024
