Kerala High Court
Jifry Jaleel vs The Authorized Officer on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 31663 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946
WP(C) NO. 31663 OF 2024
PETITIONER/S:
JIFRY JALEEL
AGED 51 YEARS
S/O P.M JALEEL, TC XVI/1502, JPN -30 MULLACKAL HOUSE,
KANNETTUMUKU, THYCAUD, THIRUVANANTHAPURAM, PIN - 695014
BY ADV M.R.SARIN
RESPONDENT/S:
THE AUTHORIZED OFFICER,
THE AUTHORIZED OFFICER, STATE BANK OF INDIA, STRESSED ASSETS
RECOVERY BRANCH, LMS COMPOUND, NEAR MUSEUM WEST GATE, VIKAS
BHAVAN P.O, THIRUVANANTHAPURAM, PIN - 695033
OTHER PRESENT:
SRI. TPM K. THOMAS-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06.09.2024, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The present writ petition has been filed seeking the
following reliefs:
"A Issue a writ of mandamus or any other appropriate writ, order
or direction directing the respondents to permit the petitioner to
settle the loan account/outstanding dues in 25 equal monthly
instalments.
B Issue a writ of mandamus or any other appropriate writ, order
or direction directing the respondents not to disposes the
petitioner.
C Grant such other reliefs, which are deemed fit and proper in the
facts and circumstances of the case."
2. The petitioner obtained a term loan of Rs.20 lakhs
from the respondent Bank on 06.01.2017 by mortgaging an
extent of 2 Ares in Block No.34, Re Sy No.670/11-3 of Karakulam
Village, Nedumanagad Taluk, Thiruvananthapuram. The
petitioner has committed default in making repayment of the
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loan amount. Therefore, the Bank, after classifying the loan
account of the petitioner as NPA, has proceeded under the
provisions of the SARFAESI Act and Rules made thereunder.
3. The learned Counsel for the Bank submits that the
loan account has been recalled and O.A. No.376/2024 has been
filed by the Bank for an amount of Rs.21,29,881/- and as of date
the total outstanding is Rs.22,67,380/-
4. Learned Counsel for the petitioner submits that the
petitioner is willing to make a substantial upfront payment and
the remaining outstanding amount in some instalments as this
Court may direct.
5. Learned Counsel for the Bank has not much objection
but submits that the instalment facility should be limited to 10
instalments.
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6. Considering the said concession granted by the learned
Counsel for the Bank, the present writ petition is disposed of on
the following terms:
(i) The petitioner shall pay an upfront amount of Rs.5 lakhs on
or before 05.10.2024.
(ii) The remaining outstanding amount, along with interest, is
directed to be paid in 12 equal monthly instalments.
(iii) The first instalment is to be paid on or before 07.11.2024 and
the remaining 11 instalments on or before the 7th day of each
succeeding month.
(iv) In case of failure to pay the upfront amount of Rs.5 lakh or
any subsequent instalments, the Bank shall be free to proceed
with the SARFAESI proceedings against the petitioner for
realization of the outstanding loan amount.
(v) If the petitioner complies with the aforesaid direction in the
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judgment, the Bank shall not proceed with the O.A.
The writ petition stands disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
jjj
WP(C) NO. 31663 OF 2024
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APPENDIX OF WP(C) 31663/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE LAWYER NOTICE ISSUED BY THE
RESPONDENT BANK DATED 13.02.2024
Exhibit P2 THE TRUE COPY OF THE LEGAL NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER DATED 31.8.2024
