Kerala High Court
James C. Varghese vs The Authorized Officer on 5 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 30999 OF 2024
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2024:KER:68102
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. 30999 OF 2024
PETITIONER:
JAMES C. VARGHESE
AGED 64 YEARS
S/O VARGHESE; RESIDING AT: 47, CHENNOTHU MERI VILLA 10,
KOKKOTHAMANGALAMP.O., CHERTHALA, ALAPPUZHA, PIN -
688583
BY ADVS.
R.RAJESH (VARKALA)
M.KIRANLAL
MANU RAMACHANDRAN
T.S.SARATH
SAMEER M NAIR
SAILAKSHMI MENON
RESPONDENT:
THE AUTHORIZED OFFICER
UNDER SECURITIZATION ACT, BANK OF BARODA, OFFICE AT:
CMC 29/483C, PERUMBATHARA BUILDING, FIRST FLOOR, NEAR
IRON BRIDGE, CHERTHALA, ALAPPUZHA, PIN - 688524
SRI.K.M. ANEESH-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Dated this the 5th day of September, 2024
The present Writ Petition has been filed seeking
the following prayers:
1) To issue a writ of mandamus, or any other appropriate
writ or direction or order directing the respondents to
allow the petitioner to pay the defaulted dues in
installments and regularize the loans. And/or
2) Such other Writ, Orders or Directions deem fit on facts
and in the interest of justice
2. The petitioner had availed 3 loans from the
respondent bank ie, housng loan of Rs.30,00,000/-,
educational loan of Rs.3,00,000/- and agricultural loan of
Rs.3,00,000/-. The petitioner has defaulted in making
repayment of the loans taken from the respondent bank.
Therefore, the bank after classifying the petitioner's loan
accounts as NPA, proceeded under the provisions of the
SARFAESI Act and Rules made thereunder.
3. As per the learned counsel for the bank, the tenure
for repayment for the educational loan and agricultural
loan are over. In respect of the educational loan liability is
Rs.2,50,578/- and agricultural loan is Rs.46,131/-. In
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2024:KER:68102
respect of the housing loan, the overdue amount is
Rs.3,97,015/-. The tenure for making repayment of housing
loan is up to 2035. The learned counsel for the bank
submits that if the petitioner pays the entire outstanding
amount of educational loan and agricultural loan and
agrees to pay the overdue amount in respect of the housing
loan in few instalments along with the regular instalments
as this Court may direct, the bank shall regularize the
housing loan account of the petitioner.
4. Considering the aforesaid submissions of the learned
counsel for the bank, the present writ petition is disposed
of in the following terms:
i. The petitioner shall pay the entire outstanding
amount of educational loan and agricultural loan
in six equal monthly instalments.
ii. The petitioner shall pay the overdue amount of
the housing loan in six equal monthly
instalments along with the regular instalments.
Iii. The 1st instalment in respect of all three loans as
directed above, is to be paid on or before
07.10.2024 and remaining five instalments on or
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before 7 day of each succeeding months.
th
iii. Once the petitioner pays the entire overdue
amount of the housing loan, the bank shall
regularize the housing loan account of the
petitioner.
iv. In case of failure to make payment of any of the
instalments as directed above, the bank shall be
free to proceed with SARFAESI proceedings
against the petitioner for realizing the
outstanding loan amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 30999 OF 2024
2024:KER:68102
APPENDIX OF WP(C) 30999/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE BANK STATEMENT OF BANK
ACCOUNT 36990600008332 WITH RESPONDENT BANK
FROM 01.01.2024 TO 22.08.2024
Exhibit P2 A TRUE COPY OF SECTION 13(2) NOTICE UNDER
SARFESI ACT DATED 11.07.2024
