Kerala High Court
Sulthan vs The Authorized Officer on 23 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
2024:KER:70546
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
MONDAY, THE 23RD DAY OF SEPTEMBER 2024 / 1ST ASWINA, 1946
WP(C) NO. 33169 OF 2024
PETITIONER:
SULTHAN,
AGED 51 YEARS, S/O. ABOOBACKER,
NAALAKATH VEEDU, IRINGAPPURAM,
GURUVAYOOR, THRISSUR, KERALA, PIN - 680104.
BY ADV.
SRI. M. R. SASITH
RESPONDENT:
THE AUTHORIZED OFFICER,
GURUVAYOOR CO-OPERATIVE URBAN BANK LTD NO.F-
1652,KOTTAPADI BRANCH, J29W+HCH, PALLI ROAD,
NEAR MILAN AUDITORIUM, KOTTAPADI,
IRINGAPROM, KERALA, PIN - 680505.
BY ADV.
SRI. T. C. HARIKUMAR - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 33169 OF 2024 2
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DINESH KUMAR SINGH, J.
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W.P.(C) No. 33169 of 2024
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Dated this the 23rd day of September, 2024
JUDGMENT
1. The present writ petition has been filed by the petitioners for
the following reliefs;
i. Issue a writ of mandamus or any other
appropriate writ, order or direction directing the
respondent to grant 25 monthly installments to pay
the entire default amount, till that period Exhibit
P1 shall be kept in abeyance.
ii. Issue a writ of mandamus or any other
appropriate writ, order or direction directing the
respondent to grant 25 equal monthly installments
for repayment of entire outstanding amounts.
iii. To dispense with the translation of documents
in vernacular language.
iv. Grant such other reliefs as this Hon'ble Court
may deem fit and proper in the facts and
circumstances of the case.
2. The petitioner along with his wife had obtained a housing loan
on of Rs. 8,00,000/- on 25.03.2020 from the respondent Bank. The said
loan along with interest was to be paid for a period of five years in
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equal monthly installments of Rs. 16,750/- per month. The petitioner
had created equitable mortgage of their property admeasuring 0.201
Ares of land and 1.21 Ares of land in Survey No. 214/7 situated in
Iringaappura Village, Chalakudy Taluk, Thrissur district. The petitioner
had committed defaults in making repayment of the loan as per the
loan agreement and, therefore, the respondent Bank after classifying
the loan account of the petitioner as NPA has proceeded further
against the petitioner under the provisions of the SARFAESI Act and
Rules made thereunder.
3. The learned Counsel for the respondent Bank on instructions
submits that as of today, the overdue amount is Rs. 9,94,793/- and
the total outstanding is Rs. 13,70,793/-.
4. The sale of the secured assets is fixed tomorrow. The learned
Counsel for the Bank submits that, if the petitioner makes substantial
upfront amount and the remaining the outstanding amount in some
installments, the Bank would not have any objection and will not
proceed with the sale of the secured assets .
5. Considering the above submission of the learned Counsel for the
respondent Bank, the present writ petition is disposed of on the
following terms;
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(i) The petitioner shall pay Rs. 2,00,000/- by
tomorrow i.e. 24.09.2024 and remaining overdue
amount in twelve equal monthly installments.
(ii) The first installment as directed above is
required to be paid on or before 07.10.2024 and
the remaining eleven installments on or before the
seventh day of each succeeding month.
(iii) In case of failure to make payment of Rs.
2,00,000/- or any of the installments as directed
above, the respondent Bank shall be free to
proceed further against the petitioner under the
law to realize its dues.
(iv) If the petitioner fails to make payment of Rs.
2,00,000/- by tomorrow, the Bank may go ahead
with the sale of the secured assets.
Sd/-
DINESH KUMAR SINGH
JUDGE
Svn
2024:KER:70546
APPENDIX OF WP(C) 33169/2024
PETITIONER'S EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE SALE NOTICE DATED
19.08.2024 ALONG WITH THE TRANSLATION.
