Anoop Johnson Karedan vs State Bank Of India
2024 Latest Caselaw 26994 Ker

Kerala High Court

Anoop Johnson Karedan vs State Bank Of India on 6 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

                                                         2024:KER:67884
              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. 31419 OF 2024

PETITIONER:

          ANOOP JOHNSON KAREDAN,
          AGED 39 YEARS, S/O. JOHNSON KAREDAN, KAREDAN (H),
          MAMATTAM ROAD, 1ST CROSS, KHANNA NAGAR,
          MURINGOOR, THRISSUR, PIN - 680309.

          BY ADV.
             SRI. AJITH M. JIJI


RESPONDENT:

          STATE BANK OF INDIA,
          REPRESENTED BY THE AUTHORIZED OFFICER,
          STRESSED ASSETS RECOVERY BRANCH - II, R. S. BUILDING,
          M G ROAD, ERNAKULAM, PIN - 682011.

          BY ADV.
             SRI. JAYESH MOHAN KUMAR - SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 31419 OF 2024




                                                                    2024:KER:67884

                                              2


                           DINESH KUMAR SINGH, J.
                                   --------------------------
                               W.P.(C) No. 31419 of 2024
                                  -------------------------
                     Dated this the 6th day of September, 2024

                                        JUDGMENT

1. The present writ petition has been filed by the petitioner for

the following reliefs;

i. Issue a writ of mandamus or any other appropriate writ directing the Respondent to permit the the petitioner to pay the overdue amount in monthly installments.

ii. Issue a writ of mandamus or any other appropriate writ directing the Respondent to issue the Petitioner with complete and detailed statements of account pertaining to the petitioners loan account.

iii. Pass such other orders which are incidental and proper in the interest of justice.

2. The petitioner had obtained housing loan of Rs. 20,32,000/-

from the respondent Bank by creating equitable mortgage of his

property consisting of 15.99 Ares of land in Survey No. 59/1, 941/3 in

Muringoor Vadakkum Muri Village, Mukundapuram Taluk, Thrissur WP(C) NO. 31419 OF 2024

2024:KER:67884

district. The petitioner has committed defaults in making repayment

of the loan and, therefore, the Bank after classifying the loan account

of the petitioner as NPA has proceeded against the petitioner to

realise its dues under the provisions of the SARFAESI Act and the

Rules made thereunder.

3. The sale of the secured asset is fixed on 12.09.2024. The

learned Counsel for the Bank on instructions submits that if the

petitioner pays substantial upfront amount and remaining amount in

few installments as this Court may direct, the Bank shall accept the

amount towards the discharge of the loan liability and will not

proceed further with the sale of the secured assets. The learned

Counsel for the respondent Bank further submits that, as of today,

the total outstanding amount is Rs. 31,04,476/-.

4. Considering the aforesaid stand of the respondent Bank, the

present writ petition is disposed of on the following terms;

(i) The petitioner shall pay Rs. 5,00,000/- upfront

amount on or before 11.09.2024 and remaining

balance amount in fifteen equal monthly

installments.

WP(C) NO. 31419 OF 2024

2024:KER:67884

(ii) The first installment as directed above is to

be paid on or before 07.10.2024 and the

remaining fourteen installments on or before the

seventh day of each succeeding month.

(iii) In case of failure to make payment of Rs.

5,00,000/- or any of the installment as directed

above, the respondent Bank shall be free to

proceed further in accordance with the law to

realise its outstanding dues.

Sd/-

DINESH KUMAR SINGH JUDGE Svn WP(C) NO. 31419 OF 2024

2024:KER:67884

APPENDIX OF WP(C) 31419/2024

PETITIONER'S EXHIBITS

EXHIBIT P1 TRUE COPY OF THE SALE NOTICE DATED 01.08.2024 ISSUED BY THE RESPONDENT