Preethakumari vs The Authorized Officer
2024 Latest Caselaw 28188 Ker

Kerala High Court

Preethakumari vs The Authorized Officer on 24 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

WP(C) NO. 33163 OF 2024

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                                                   2024:KER:71674
              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                  PRESENT

           THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH

     TUESDAY, THE 24TH DAY OF SEPTEMBER 2024 / 2ND ASWINA, 1946

                      WP(C) NO. 33163 OF 2024

PETITIONER:

             PREETHAKUMARI
             AGED 57 YEARS
             W/O SURESHKUMAR, VINOD BHAVAN, KOOVALASSERY,
             MARANALLOOR P.O., OORUTTAMBALAM, TRIVANDRUM –,
             PIN - 695512


             BY ADV M.R.SASITH


RESPONDENT:

             THE AUTHORIZED OFFICER
             KERALA STATE CO-OPERATIVE BANK, KATTAKADA BRANCH, KP
             17/144, PANDYALAYIL BUILDINGS, KATTAKKADA,
             THIRUVANANTHAPURAM., PIN - 695572


             BY ADV THOMAS ABRAHAM


       THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON    24.09.2024,   THE   COURT   ON       THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 WP(C) NO. 33163 OF 2024

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                                                           2024:KER:71674
                                 JUDGMENT

The present writ petition has been filed for the following

prayers:

"i. Issue an order or direction directing the respondent to grant 24 equal monthly installments for repayment of the entire outstanding amount till that period all further proceedings in pursuant to Exhibit-P1 shall be kept in abeyance.

ii. Issue an order or direction directing the respondent to grant 24 equal monthly installments for repayment of the entire arrear amount.

iii. 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 had availed a loan of Rs. 4,00,000/- from

the respondent Bank in the year 2020 by creating an equitable

mortgage of her property having an extent of 1.41 Ares of land in

Sy.No.23/42 and another property having an extent of 1.49 Ares in

Sy.No.23/49 of Maranalloor Village, Kattakkada Taluk,

Thiruvananthapuram District. The petitioner has committed defaults

in making repayment of the loan advanced. 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 on today, the total outstanding is WP(C) NO. 33163 OF 2024

2024:KER:71674 Rs.8,41,700/-.

3. The learned counsel for the respondent Bank submits that

the Bank has no objection in accepting the repayment of the loan in

installments, as this Court may fix.

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 the entire outstanding amount

along with future interest in 15 equal monthly installments. The

1st installment is to be paid on or before 15.10.2024 and the

remaining 14 installments to be paid on or before 15 th day of

each succeeding month.

2. In case of failure to make payment of 1 st installment or any

subsequent installments as directed above, the respondent Bank

shall be free to proceed with the SARFAESI proceedings against the

petitioner to realize its dues, in accordance with law.

Sd/-DINESH KUMAR SINGH JUDGE

lsn WP(C) NO. 33163 OF 2024

2024:KER:71674 APPENDIX OF WP(C) 33163/2024

PETITIONER EXHIBITS

Exhibit P-1 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 1ST RESPONDENT DATED 13.08.2024 ALONG WITH THE TYPED COPY.

RESPONDENTS EXHIBITS: NIL

TRUE COPY

P.A TO JUDGE

LSN