Kerala High Court
Sunitha George vs The Authorized Officer/ Assistant Vice ... on 13 September, 2024
2024:KER:70282
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
FRIDAY, THE 13TH DAY OF SEPTEMBER 2024/22ND BHADRA, 1946
WP(C) NO. 32840 OF 2024
PETITIONER:
SUNITHA GEORGE,
W/O K.V. THOMAS, KANIYAKONIL HOUSE, EDATHALA P.O.,
MANNAR, ERNAKULAM - 689 573, NOW RESIDING AT
C/O K.V. THOMAS, S/0 GEEVARGHESE MATHEW @ GEEVARGHESE,
KANDATHIL HOUSE, PUTHIYAKAVU, MAVELIKKARE P.O.,
ALAPPUZHA, PIN - 690 101.
BY ADVS.
R.DIVAKARAN
BINOI GEORGE (CHERUKARA)
U.S.SARITHA
VISAKH K.P
HARIKRISHNAN V.A
KRISHNENDHU V.B
ATHUL KIRAN D.
RESPONDENTS:
1 THE AUTHORIZED OFFICER/ ASSISTANT VICE PRESIDENT,
FEDERAL BANK, ERNAKULAM DIVISION, GROUND FLOOR,
FEDERAL TOWERS, MARINE DRIVE, PIN - 682 031.
2 THE MANAGER,
FEDERAL BANK, EDAPPALLY BRANCH, COCHIN,
PIN - 682 020.
ADV. POULOCHAN ANTONY
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON
13.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.C.No.32840 of 2024
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-2-
JUDGMENT
(Dated this the 13th day of September, 2024)
The petitioner availed a purchase loan of
Rs.40,00,000/- in the year 2021 from Federal Bank,
Edappally Branch. She committed default, hence
securatization proceedings were initiated against the
petitioner and Ext.P1, possession notice was issued under
section 13 (4) of the Securitization and Re-construction of
Financial Assets and Enforcement of Security Interest Act,
2002 and a symbolic possession was taken on 02.09.2023.
2. Ext.P2 notice was issued by the Advocate
Commissioner appointed in MC.77 of 2024 for taking
physical possession on 23.07.2024 or any day thereafter. It
is submitted that physical possession was not taken on
23.07.2024.
3. The learned counsel appearing for the respondent
submits that the overdue amount as on today is
Rs.8,63,787/-. The counsel for the petitioner seeks
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installments to wipe out the over due amount
Having heard the counsel for the petitioner as well as
the counsel for the respondent, I deem it appropriate to
dispose of the writ petition with the following conditions:
i) The petitioner shall pay a lump sum of
Rs.2,00,000/- (Rupees Two Lakhs only) on or before
01.10.2024
ii) After making a payment of Rs.2,00,000/- as
directed above, the petitioner shall pay the remaining
overdue amount in 5 equated monthly instalments.
iii) The 1st instalment shall be paid on or before
07.11.2024. The remaining 4 instalments shall be paid
on or before the 7th day of each succeeding month.
iv) After making a payment of the entire overdue
amount along with regular instalments, the petitioner
shall continue to pay the regular instalments till the
entire loan liability is discharged
v) In case of failure to make payment of the
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lumpsum amount or any of the instalments as directed
above, the bank shall be free to take possession of the
secured assets. The bank shall proceed against the
petitioner in accordance with law.
vi) All coercive proceedings against the secured
assets shall be deferred until such time.
Sd/-
BASANT BALAJI
JUDGE
ADS
2024:KER:70282
APPENDIX OF WP(C) 32840/2024
PETITIONER EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE POSSESSION NOTICE
DATED 02.09.2023.
EXHIBIT P2 THE TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER DATED 08.07.2024.
EXHIBIT P3 THE TRUE COPY OF THE REPRESENTATION DATED
09.09.2024.
