Sureshkumar M vs The Branch Manager And Authorized ...
2024 Latest Caselaw 26664 Ker

Kerala High Court

Sureshkumar M vs The Branch Manager And Authorized ... on 5 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

W. P. (C) No. 17931 of 2024
                                     -1-

                                                  2024:KER:68263
              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. 17931 OF 2024

PETITIONER/S:

     1        SURESHKUMAR M.
              AGED 51 YEARS
              S/O. MANIYAN “ROADRIKATHU VEEDU”,
              THAVARUKONAM CHILAMPARA MANCHAMCODE P.O.,
              KEEZHAROOR THIRUVANANTHAPURAM., PIN - 695125

     2        RAJESWARI K
              AGED 47 YEARS
              W/O SURESKUMAR M “ROADRIKATHU VEEDU”,
              THAVARUKONAM CHILAMPARA MANCHAMCODE P.O.,
              KEEZHAROOR THIRUVANANTHAPURAM ., PIN - 695125
              BY ADV C.S.SUMESH


RESPONDENT/S:

     1        THE BRANCH MANAGER AND AUTHORIZED OFFICER
              NEYYATTINKARA CO-OPERATIVE URBAN BANK LTD.
              NO.931, NEYYATTINKARA, THIRUVANANTHAPURAM ., PIN
              - 695121

     2        THE NEYYATTINKARA CO-OPERATIVE URBAN BANK LTD.
              NO.931
              REPRESENTED BY BRANCH MANAGER, PANACHAMOODU
              BRANCH NEYYATTINKARA, THIRUVANANTHAPURAM., PIN -
              695121



OTHER PRESENT:

              SRI. R.T. PRADHEEP-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. 17931 of 2024
                                    -2-

                                                         2024:KER:68263
                              JUDGMENT

The present writ petition has been filed for the following

reliefs:-

"(i) a writ, direction or order directing the 2nd respondent bank to afford an opportunity to the petitioners to pay off the dues in the term loan account in 20 monthly installments;

(ii) a writ, direction or order directing the respondents 1 & 2 to bring to halt the recovery proceedings initiated against the sale of the secured asset owned by the 1 st petitioner in loan account number:105230060001223 of Panachamoodu Branch of Neyyattinkara Co-operative Urban Bank Ltd. No.931."

2. Petitioner had obtained a term loan of Rs. 4,00,000/-

from the respondent Bank on 30.10.2015 to be paid in 84 equal

monthly installments. Petitioner had created an equitable

mortgage of the property comprised in Re. Sy. No. 101 in Block

No. 27 of Keezharoor Village in Neyyattinkara Taluk. Petitioner

had committed default in making repayment of the loan 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. The term of the loan

2024:KER:68263 got expired in 2022. As on today, the total outstanding is Rs.

7,21,864/-.

3. Learned counsel for the Bank submits that the Bank

has no objection in accepting the entire outstanding amount in

few installments as this Court may direct as the term of the loan

has already expired.

Considering the above submission, the present writ

petition is disposed of in the following terms:-

i) The petitioner shall pay the entire outstanding liability

in 12 equal monthly installments along with future interest. The

1st installment is to be paid on or before 07.10.2024 and the

remaining 11 installments on or before the 7 th day of every

succeeding month;

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.

Sd/-

DINESH KUMAR SINGH JUDGE Eb

2024:KER:68263 APPENDIX OF WP(C) 17931/2024

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE ORDER IN M.C. 188/2024 DATED 23/03/2024 PASSED BY THE HON'BLE CHIEF JUDICIAL MAGISTRATE, THIRUVANANTHAPURAM.

Exhibit P2 THE TRUE COPY OF THE NOTICE DATED 07/05/2024 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS.