Mathew vs The Kerala State Co-Op Bank Ltd
2024 Latest Caselaw 27435 Ker

Kerala High Court

Mathew vs The Kerala State Co-Op Bank Ltd on 11 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

WP(C) NO. 31622 OF 2024

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                                                     2024:KER:70056
              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. 31622 OF 2024

PETITIONER:

           MATHEW,
           AGED 75 YEARS
           S/O KUNJUVAREED , MOORKANATTUKARAN HOUSE , VADANTHOLE
           DESOM, VARANTHARAPPILLY VILLAGE , CHALAKUDY
           TALUK,THRISSUR DT, PIN - 680303


           BY ADVS.
           M.R.REENA
           P.S.SUJETH




RESPONDENT:

           THE KERALA STATE CO-OP BANK LTD,
           HEAD OFFICE BR , THRISSUR DT REP BY ITS AUTHORIZED
           OFFICER , SAHAKARANA SADAPTHI MANDIRAM TUDA ROAD ,
           KOVILAKATHUPADAM P.O , THRIVAMBADI P.O ,THRISSUR DT,
           PIN - 680022


           BY ADV K.S.ARUN KUMAR


     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. 31622 OF 2024

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                                                             2024:KER:70056
                                 JUDGMENT

Dated this the 11th day of September, 2024

The present Writ Petition has been filed seeking

the following prayers:

i. Issue a writ , order or direction in the nature of Mandamus or other appropriate writ directing the respondent not to proceed any further under Exhibit -P1 Notice of the Advocate Commissioner dated 29-08-2024 . II. Issue a Writ , Order or Direction in the nature of Mandamus or other appropriate Writ directing the respondent to consider the Ext-P2 representation and may be regularized the loan account by paying the overdue amount in maximum equal monthly installments. III. Issue other order or direction which this Hon'ble Court may deem fit and proper to grand in the circumstances of the case . And IV. The petitioner is not contesting the case on merit but seeking only installments and he is ready to withdraw the SA No.187 /2023 pending before the Hon'ble DRT 2 .

2. The petitioner had availed a housing loan of

Rs.5,00,000/- and another loan of Rs.15,00,000/- from the

respondent bank. The petitioner has defaulted in making

repayment of the loan taken from the respondent bank.

Therefore, the bank after classifying the petitioner's loan

account as NPA, proceeded under the provisions of the

SARFAESI Act and Rules made thereunder. WP(C) NO. 31622 OF 2024

2024:KER:70056

3. The learned counsel for the bank submits that if the

petitioner makes payment of substantial amount upfront

and remaining amount in few instalments as this Court

may direct, the bank will not proceed with the SARFAESI

proceedings. As on today, Rs.54,65,211/- is the total

outstanding amount.

4. Considering the said stand of the learned counsel for

the bank, the present writ petition is disposed of in the

following terms:

i. The petitioner shall pay an upfront amount of

Rs.5,00,000/- on or before 07.10.2024, and

remaining outstanding amount in 12 equal

monthly instalments. The 1st instalment is to be

paid on or before 07.11.2024 and remaining 11

instalments on or before 7th day of each

succeeding months.

ii. In case of failure to make payment of

Rs.5,00,000/- or any of the instalments as

directed above, the bank shall be free to proceed

further with SARFAESI proceedings against the

petitioner for realizing the outstanding loan

amount.

WP(C) NO. 31622 OF 2024

2024:KER:70056 With the aforesaid directions, the present writ petition

stands finally disposed of.

Sd/-

DINESH KUMAR SINGH

JUDGE AP WP(C) NO. 31622 OF 2024

2024:KER:70056 APPENDIX OF WP(C) 31622/2024

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 29-08-20234 ALONG WITH ENGLISH TRANSLATION

Exhibit P2 A TRUE COPY OF THE REPRESENTATION DATED 01- 09-2024 SENT BY THE PETITIONER