Kerala High Court
Girija Devi S vs Kerala State Co-Operative Bank Ltd on 26 September, 2024
2024:KER:72008
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
THURSDAY, THE 26TH DAY OF SEPTEMBER 2024 / 4TH ASWINA, 1946
WP(C) NO. 33560 OF 2024
PETITIONER/S:
GIRIJA DEVI S.,
AGED 43 YEARS
D/O. SUBHADRAMMA, GIREESH BHAVAN, MYLOM P.O.,
KOTTARAKARA, KOLLAM, PIN - 691560
BY ADV A.R.DILEEP
RESPONDENT/S:
1 KERALA STATE CO-OPERATIVE BANK LTD.,
KALAYAPURAM BRANCH, KALAYAPURAM, KOLLAM DISTRICT,
REPRESENTED BY ITS MANAGER, PIN - 691560
2 THE AREA MANAGER AND AUTHORISED OFFICER,
KERALA BANK (THE KERALA STATE CO-OPERATIVE BANK),
O/O. THE AREA MANAGER, KOTTARAKARA, KOLLAM
DISTRICT, PIN - 691506
OTHER PRESENT:
SC SRI. P.C SASIDHARAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
2024:KER:72008
WP(C) 33560/2024
-2-
JUDGMENT
(Dated this the 26th day of September 2024)
The petitioner has availed a loan from the respondent-
Bank for an amount of Rs.4,00,000/- by mortgaging the
residential property as security for the repayment of the loan. The
term period of the loan is 10 years, and the monthly instalments
come to Rs.5,500/-. The 1st respondent-Bank initiated proceedings
under the SARFAESI Act against the petitioner since there is
default in remitting the EMIs and notice under Section 13(2) was
issued, directing the petitioner to remit an amount of
Rs.4,26,374/-. Even after the receipt of notice, no payment was
made, Ext.P3 possession notice was issued. The petitioner,
therefore, requested the respondent-Bank to grant some time for
payment of the overdue amount through Ext.P4. But the same was
not granted by the respondent-Bank. Therefore, she has
approached this Court.
2024:KER:72008
WP(C) 33560/2024
2. The learned Standing Counsel for the respondent-
Bank on instructions, submits that the total overdue amount as on
24.09.2024 is Rs.87,243/-.
3. The counsel for the petitioner seeks instalments
to wipe out the overdue amount.
Having considered the facts and circumstances of the case,
I deem it appropriate to dispose of the writ petition as follows:
(i) The petitioner shall pay the overdue amount in ten equal
monthly instalments along with regular instalments.
(ii) The first installment is to be paid on or before 05.11.2024,
and the remaining nine instalments on or before the 5 th day
of each succeeding month, along with regular instalments.
(iii) After making 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.
2024:KER:72008
WP(C) 33560/2024
(iv) In case of failure to make payment of 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 to
realize its dues.
(v) Till such time, all coercive proceedings against the secured
assets shall be deferred.
Sd/-
BASANT BALAJI
JUDGE
JS
2024:KER:72008
WP(C) 33560/2024
APPENDIX OF WP(C) 33560/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE PASS BOOK OF ACCOUNT
NO.030616034120022 (NEW A/C
NO.112460454000215) BELONGING TO THE
PETITIONER WITH THE 1ST RESPONDENT BANK
Exhibit P2 A TRUE COPY OF NOTICE DATED 27.06.2024
UNDER S.13(2) OF THE, SARFAESI ACT, 2002
Exhibit P3 A TRUE COPY OF NOTICE DATED 10.09.2024
UNDER RULE 8(1) OF THE SECURITY INTEREST
(ENFORCEMENT) RULES, 2002
Exhibit P4 THE TRUE COPY OF REPRESENTATION DATED
21.09.2024 PRESENTED BY THE PETITIONER
BEFORE RESPONDENTS 1 AND 2 ALONG WITH
POSTAL RECEIPTS
