Kerala High Court
Sreedharan.K.V vs The Authorized Officer on 25 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 33368 OF 2024
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2024:KER:71864
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
WEDNESDAY, THE 25TH DAY OF SEPTEMBER 2024 / 3RD ASWINA, 1946
WP(C) NO. 33368 OF 2024
PETITIONER:
SREEDHARAN.K.V
AGED 52 YEARS
S/O KELAN, RESIDING AT KIZHAKKEVEETTIL HOUSE,
POYILOOR.P.O., THALASSERY, KANNUR, PIN - 670693
BY ADVS.
K.M.JAMALUDHEEN
LATHA PRABHAKARAN
SAINA MARIYAM BABY
RESPONDENTS:
1 THE AUTHORIZED OFFICER
KERALA BANK , ERSTWHILE KERALA STATE CO-OPERATIVE BANK,
KANNUR REGIONAL OFFICE, P.B.NO.35, KANNUR, PIN - 670001
2 THE BRANCH MANAGER
KERALA BANK, ERSTWHIILE KERALA STATE CO-OPERATIVE BANK,
PARAT BRANCH, THALASSERY, KANNUR, PIN - 670693
BY ADV M.SASINDRAN .
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Dated this the 25th day of September, 2024
The present Writ Petition has been filed seeking
the following prayers:
i) Issue a writ of certiorari or any other writ or order to
quash Ext-P2 holding the same as illegal. Or in the
alternative
ii) Issue a writ of mandamus directing the respondent bank
to give 36 monthly installment facility to repay the
outstanding loan due amount and further direct the
respondents to revive the loan account of the petitioner.
And
iii) To dispense with the production of the English
translation of the Malayalam documents produced in the
case.
iv) Issue such other Writ, order or directions that may deem
fit and proper in the fact and circumstances of the case.
2. The petitioner had availed a housing loan of
Rs.3,00,000/- from the respondent bank. The petitioner has
defaulted in making repayment of the loan taken from the
respondent bank. Therefore, the bank has proceeded under
the provisions of the SARFAESI Act and Rules made
thereunder.
3. The learned counsel for the petitioner submits that
the petitioner will pay the entire outstanding amount in
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few instalments as this Court may direct.
4. The learned counsel for the bank submits that if the
petitioner makes payment of substantial amount upfront
and agrees to pay the remaining outstanding amount in
few instalments as this Court may direct, the bank shall
accept the instalments and will not proceed further against
the petitioner under the provisions of the SARFAESI Act
and Rules made thereunder. As on today, Rs.5,92,473/- is
the overdue amount, and Rs.6,64,000/- is the total
outstanding amount.
5. 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.1,50,000/- on or before 20.10.2024 and
remaining outstanding amount in 10 equal
monthly instalments. The 1st instalment is to be
paid on or before 20.11.2024 and remaining 9
instalments on or before 20th day of each
succeeding month.
ii. In case of failure to make payment of
Rs.1,50,000/- or any subsequent instalments as
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directed above, the bank shall be free to proceed
further against the petitioner for realizing the
outstanding loan amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 33368 OF 2024
2024:KER:71864
APPENDIX OF WP(C) 33368/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE ACCOUNT BOOK OF THE
PETITIONER DATED NIL
Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY
THE 1ST RESPONDENT DATED NIL
Exhibit P3 TRUE COPY OF THE LETTER OF THE PETITIONER
DATED 21-9-2024 SUBMITTED TO THE 1ST
RESPONDENT ALONG WITH ITS ENGLISH TRANSLATION
