Noushad P M vs The Union Bank Of India
2024 Latest Caselaw 27453 Ker

Kerala High Court

Noushad P M vs The Union Bank Of India on 11 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

                                                     2024:KER:69507
              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. 32086 OF 2024

PETITIONER:

    1     NOUSHAD P M,
          AGED 45 YEARS
          S/O MOOSAKOYA, PMS HOUSE, MADRASANGADI,
          KOLATHARRA PO, KOZHIKKODE, PIN - 673655

    2     SEMEER P M,
          AGED 40 YEARS
          S/O MOOSAKOYA, PMS HOUSE, MADRASANGADI,
          KOLATHARRA PO, KOZHIKKODE, PIN - 673655

    3     VAHEEDA,
          AGED 38 YEARS
          W/O NOUSHAD,PMS HOUSE, MADRASANGADI,
          KOLATHARA P.O,CALICUT, PIN - 673655


          BY ADVS.
          NABIL KHADER
          O.A.NURIYA
          RUKSANA SATHAR P.A.



RESPONDENT:

          THE UNION BANK OF INDIA,
          REGIONAL OFFICE, KOZHIKODE,KSHB COMPLEX,
          VIKAS NAGAR,CHAKKORATHUKULAM, KOZHIKODE,
          REPRESENTED BY ITS AUTHORISED OFFICER,
          PIN - 673006

          BY ADVS.
          ASP.KURUP
          SADCHITH.P.KURUP
          C.P.ANIL RAJ
          SIVA SURESH
          B.SREEDEVI
 WP(C) NO. 32086 OF 2024
                                    2


                                                           2024:KER:69507
            ATHIRA VIJAYAN


     THIS   WRIT   PETITION   (CIVIL)   HAVING   BEEN   FINALLY   HEARD   ON
11.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 32086 OF 2024
                                  3


                                                     2024:KER:69507
                         JUDGMENT

(Dated this the 11th day of September 2024)

The present writ petition has been filed seeking

the following reliefs:

i) Direct the respondent to grant the petitioners an opportunity to repay the overdue amounts in instalments and hence regularise the loans of the petitioners.

ii) To pass any other order which this Hon'ble court may deem fit.

2. The petitioner has obtained four loans from the

respondent Bank, including one housing loan. The total

outstanding for all four loans is Rs. 20.04/- lakhs. The

petitioner has already approached the Debts Recovery

Tribunal by filing SA. No. 482/2023 before the Debts

Recovery Tribunal - I. However, the petitioner has not been

able to get an interim order from the Debts Recovery

Tribunal. Therefore, the Bank has approached the CJM

Court, Kozhikode for an order to take physical possession of WP(C) NO. 32086 OF 2024

2024:KER:69507 the secured assets.

3. Learned counsel for the petitioner submits that the

petitioner wants to pay the amount to the Bank, and he will

approach the Bank for a One-time Settlement.

4. Learned counsel for the respondent Bank submits

that if the petitioner makes a substantial upfront payment and

approaches the bank for a One-time Settlement, the Bank

shall consider the petitioner's proposal.

5. Considering the Bank's aforesaid stand, the

present writ petition is disposed of with a direction to the

petitioner to pay an upfront amount of Rs. 5 lakhs on or

before 30.09.2024 and approach the Bank for One-time

Settlement or for rescheduling the payment terms of the

remaining outstanding balance amount in respect of the four

loans.

6. If the petitioner pays Rs. 5 laksh on or before

30.09.2024, and approaches the Bank, the Bank shall not WP(C) NO. 32086 OF 2024

2024:KER:69507 proceed against the petitioner till a decision on the One-time

Settlement proposal is taken by the Bank.

However, if the petitioner fails to pay Rs. 5 lakhs, the

Bank is free to proceed further under the provisions of the

SARFAESI Act and Rules made thereunder to realize its

dues.

Sd/-

DINESH KUMAR SINGH JUDGE ASH WP(C) NO. 32086 OF 2024

2024:KER:69507 APPENDIX OF WP(C) 32086/2024

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT

Exhibit P2 A TRUE COPY OF THE PETITION DATED 17.05.2024 FILED BY THE RESPONDENT BEFORE THE HONOURABLE CHIEF JUDICIAL MAGISTRATE, KOZHIKODE

Exhibit P3 TRUE COPY OF THE ACCOUNT STATEMENT DATED 19.07.2024 ISSUED BY THE RESPONDENT TO THE FIRST PETITIONER

Exhibit P4 TRUE COPY OF THE ACCOUNT STATEMENT ISSUED BY THE RESPONDENT IN RESPECT OF THE ACCOUNT NUMBER 450805010000539

Exhibit P5 A TRUE COPY OF THE POSSESSION NOTICE DATED 09.05.2023 ISSUED BY THE RESPONDENT TO THE PETITIONERS

Exhibit P6 A TRUE COPY OF THE ORDER DATED 12.09.2023

Exhibit P7 A TRUE COPY OF THE DD DATED 20.07.2024 ISSUED IN FAVOUR OF THE 1ST PETITIONER FOR MAKING PAYMENT TO THE RESPONDENT

Exhibit P8 THE TRUE COPY OF THE NOTICE DATED 4.9.2024 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS