Kerala High Court
Sidhique K.M vs 1. The Chief Manager And Authorised ... on 11 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 32274 OF 2024
1
2024:KER:69784
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
WEDNESDAY, THE 11TH DAY OF SEPTEMBER 2024 / 20TH BHADRA,
1946
WP(C) NO. 32274 OF 2024
PETITIONER:
SIDHIQUE K.M.
AGED 43 YEARS
S/O. MEERAN, KANIKATHARA PADATH HOUSE, PANANGAD,
ERNAKULAM, PIN - 682506
BY ADVS.
P.K.SAJEEVAN
N.C.JOSEPH
JINISHLAL S.B.
B.RADHAKRISHNAN
ATHIRA SAJEEVAN
NIYATHA RAJEEV
FRANCIS K.V.
PRAVITHA T.
DIYA DILIP
RESPONDENTS:
1 1. THE CHIEF MANAGER AND AUTHORISED OFFICER
KERALA STATE CO-OPERATIVE BANK LTD., (ERSTWHILE
ERNAKULAM DISTRICT CO-OPERATIVE BANK LTD.)
ERNAKULAM DISTRICT OFFICE, KAKKANAD P.O., KOCHI,
PIN - 682030
2 2. KERALA STATE CO-OPERATIVE BANK LTD.,
(ERSTWHILE ERNAKULAM DISTRICT CO-OPERATIVE BANK
LTD.) REPRESENTED BY ITS MANAGER
OPP. POWER STATION, VYTTILA, KOCHI, PIN - 682019
BY ADV K.AMMINIKUTTY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 11.09.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) NO. 32274 OF 2024
2
2024:KER:69784
JUDGMENT
The present writ petition has been filed for the following
prayers:
"i) To issue a writ of mandamus or any other
appropriate writ, order or direction commanding the
1st respondent to allow the petitioner to repay the
overdue amount of loan in question by way of future
monthly instalments and regularise the loan account.
ii) Grant such other reliefs that are found necessary
by this Hon'ble Court in the facts and circumstances
of the case."
2. The petitioner had availed a housing loan of
Rs. 7,00,000/- from the respondent Bank by creating an
equitable mortgage of their property having an extent of 0.142
Ares of land in Sy.No.778/4 in Re.Sy.No.148/13 of Kumbalam
Village, Kanayannur Taluk. The petitioner has committed
defaults in repaying the loan amount. The Bank after
classifying the loan account of the petitioner as Non-Performing
Asset has proceeded under the provisions of the SARFAESI Act
and Rules made thereunder. As of today, the total outstanding is
Rs.12,72,047/- and the total overdue amount is Rs.8,89,231/-.
WP(C) NO. 32274 OF 2024
2024:KER:69784
3. The learned counsel for the respondent Bank submits
that if the petitioner pays the substantial amount upfront to the
Bank, Bank shall accept the remaining overdue amount in a few
installments along with regular installments, as this Court may
fix, the Bank shall regularise the loan account of the petitioner
for making payment in terms of the loan agreement and the
Bank shall not proceed under the provisions of the SARFAESI
Act.
Considering the said stand of the learned counsel for
the respondent Bank, the present writ petition is disposed of
with following directions:
1. The petitioner shall pay Rs.2 lakhs on or before
07.10.2024 and the remaining overdue amount in 10 equal
monthly installments along with regular installments . The 1 st
installment is to be paid on or before 10.11.2024 and the
remaining 9 installments to be paid on or before 10 th day of
each succeeding month.
2. After making payment of entire overdue amount
along with regular installments, the Bank shall regularise the
loan account of the petitioner for making payment of regular
installment as per the terms of the loan agreement.
WP(C) NO. 32274 OF 2024
2024:KER:69784
3. In case of failure to make payment of Rs.2 lakhs or any
other installments as directed above, the respondent Bank shall
be free to proceed with the SARFAESI proceedings against the
petitioner for realization of the overdue loan amount, in
accordance with law.
Sd/- DINESH KUMAR SINGH
JUDGE
lsn
WP(C) NO. 32274 OF 2024
2024:KER:69784
APPENDIX OF WP(C) 32274/2024
PETITIONER EXHIBITS
Exhibit-P1 TRUE COPY OF THE MC NO. 1048/2023 DATED
31.10.2023 WHICH IS PENDING BEFORE THE
ADDITIONAL CHIEF JUDICIAL MAGISTRATE
COURT, ERNAKULAM
Exhibit-P2 TRUE COPY OF THE NOTICE DATED
22.08.2024 ISSUED BY THE ADVOCATE
COMMISSIONER AISWARYA T.S. IN M.C. NO.
RESPONDENTS EXHIBITS: NIL
TRUE COPY
P.A TO JUDGE
LSN
