Kerala High Court
Veena Prakash vs Authorized Officer on 16 January, 2025
WP(C) NO. 1373 OF 2025
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 16TH DAY OF JANUARY 2025 / 26TH POUSHA, 1946
WP(C) NO. 1373 OF 2025
PETITIONERS:
1 VEENA PRAKASH,
AGED 63 YEARS
8/1411 (OLD NO. 8/838), KANNAN PARAMBIL, FROOTY
HOUSE, TD EAST ROAD, PIN - 682002
2 PRAVEESH PRAKASH,
AGED 31 YEARS
S/O. PRAKASH, 8/1411 (OLD NO. 8/838), KANNAN
PARAMBIL, FROOTY HOUSE, TD EAST ROAD, PIN - 682002
BY ADVS.
G.KRISHNAKUMAR
S.SUJESH
RESPONDENTS:
1 AUTHORIZED OFFICER,
INDIAN BANK, 8/848, PALACE ROAD, MATTANCHERRY,
COCHIN, PIN - 682002
2 THE BRANCH MANAGER,
INDIAN BANK, 8/848, PALACE ROAD, MATTANCHERRY,
COCHIN, PIN - 682002
SRI. BINOY VASUDEVAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.01.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 1373 OF 2025
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JUDGMENT
Petitioners availed several credit facilities from the
respondent bank. Two of the loans availed by the petitioners
are housing loans while three others are business loans. On
default being committed, proceedings were initiated under the
SARFAESI Act.
2. During the course of hearing, the petitioner has
confined the relief to an opportunity for repaying the overdue
amount and the outstanding amount in installments and to
obtain regularization of the loan account in respect of the
housing loan.
3. The learned standing counsel appearing for the
respondent bank submits that while the two housing loans can
be regularized by paying the overdue amount, the three
business loans cannot be regularized and the entire
outstanding amount has to be paid as the unit in respect of
which the loans were availed has stopped functioning.
4. Having regard to the circumstances of the case and
the submissions made as recorded above, I am of the view
that the petitioners can be granted an opportunity to repay
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the overdue amount of Rs.4,11,000/- in respect of the housing
loans in 10 equated monthly installments and if the amount so
directed is repaid within the time as directed above, to have
the loan account regularised and petitioner can be granted an
opportunity to repay the outstanding amount of Rs.9,02,406/-
in respect of the business loan facility on condition that the
petitioners shall pay a sum of Rs.2,00,000/- (Rupees two lakhs
only) on or before 10.02.2025; a further sum of Rs.2,00,000/-
(Rupees two lakhs only) on or before 10.03.2025 and the
balance outstanding amount along with any accrued interest,
costs and charges shall be repaid in 8 equal monthly
installments on or before the last working day of every
succeeding months.
5. Accordingly, there will be a direction to the
respondent Bank to accept repayment of the overdue amount
of Rs.4,11,000/- in respect of the housing loan along with any
accrued interest, costs and charges from the petitioners and
regularise the same and to accept repayment of the
outstanding amount of Rs.9,02,406/- in respect of the
overdraft facility along with any accrued interest, costs and
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charges from the petitioners on the following conditions:-
1. The petitioners shall pay the overdue amount of the
housing loan of Rs..4,11,000/- (Rupees four lakh eleven
thousand only) along with any accrued interest, costs
and charges in 10 equated monthly instalments. The first
instalment shall be paid on or before 15.02.2025 and the
subsequent instalments shall be paid on or before the
15th day of every succeeding month. The petitioner shall
continue to pay the regular EMI's along with the
instalments directed above.
2. The petitioners shall pay the outstanding amount of the
business loan facility of Rs.9,02,406/- (Rupees nine lakh
two thousand four hundred and six only) in respect of
the business loan facility on condition that the
petitioners shall pay a sum of Rs.2,00,000/- (Rupees two
lakhs only) on or before 10.02.2025; a further sum of
Rs.2,00,000/- (Rupees two lakhs only) on or before
10.03.2025 and the balance outstanding amount along
with any accrued interest, costs and charges shall be
repaid in 8 equal monthly instalments. The first
instalment shall be paid on or before 10.02.2025 and
the subsequent installments shall be paid on or before
the10th day of every succeeding months.
3. In the event of default of any one instalment, the
respondent Bank shall be entitled to proceed in
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accordance with law.
4. In order to enable the petitioners to repay the entire
amounts, all coercive proceedings shall be kept in
abeyance.
The writ petition is disposed of as above.
sd/-
GOPINATH P.
JUDGE
Nsd
WP(C) NO. 1373 OF 2025
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APPENDIX OF WP(C) 1373/2025
PETITIONER EXHIBITS
Exhibit P- 1 TRUE COPY OF THE DEMAND NOTICE DTD
7.3.2023 OF THE 1ST RESPONDENT
Exhibit P-2 TRUE COPY OF THE NOTICE DATED 31.01.2025
ISSUED BY ADVOCATE COMMISSIONER
Exhibit P- 3 TRUE COPY OF THE O.P.TICKET DATED
26.7.2024 OF THE 1ST PETITIONER ISSUED BY
THE GOVERNMENT MAHARAJAS TALUK HOSPITAL,
KARUVELIPADI
Exhibit P-4 TRUE COPY OF THE PRESCRIPTION OF THE 1ST
PETITIONER ISSUED BY DR. K.S. AJAYAKUMAR
MBBS MD, CONSULTANT PHYSICIAN, FATIMA
HOSPITAL
Exhibit P-5 TRUE COPY OF THE MEDICAL BILL OF THE 1ST
PETITIONER DATED 08.10.2024 ISSUED BY
SANGTHEEH HOSPITAL HOSPITAL
Exhibit P-6 TRUE COPY OF THE OP CARD OF THE 1ST
PETITIONER DATED 03.10.2024 ISSUED BY THE
GENERAL HOSPITAL ERNAKULAM HOSPITAL
Exhibit P-7 TRUE COPY OF THE PRESCRIPTION OF THE 1ST
PETITIONER ISSUED BY DR. RIZWAN P SADIQUE
MBBS MD, CONSULTANT PHYSICIAN, SANGEETH
HOSPITAL
Exhibit P-8 TRUE COPY OF THE REPRESENTATION DATED
09.01.2025 SUBMITTED TO THE RESPONDENT
