Kerala High Court
WP(C)/42918/2022 of APPUKUTTANACHARI S Vs THE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960 on 30 December 2022
COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH FRIDAY, THE 30TH DAY OF DECEMBER 2022 / 9TH POUSHA, 1944 WP(C) NO. 42918 OF 2022 PETITIONER: APPUKUTTANACHARI S AGED 69 YEARS S/O SIVARAMANACHARI SYAM BHAVANAM, NATTUVATHUKKAL, EDAVATTOM, VELLIMON P.O, PERINAD, KOLLAM, PIN
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 30[TH] DAY OF DECEMBER 2022 / 9TH POUSHA, 1944
WP(C) NO. 42918 OF 2022
PETITIONER:
APPUKUTTANACHARI SAGED 69 YEARSS/O SIVARAMANACHARISYAM BHAVANAM, NATTUVATHUKKAL, EDAVATTOM, VELLIMON P.O, PERINAD, KOLLAM, PIN – 691511
BY ADV JOMY K. JOSE
RESPONDENTS:
1THE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960REPRESENTED BY ITS BANK MANAGER,CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING, CHANDANATHOPE P.O, PIN - 691014REPRESENTED BY ITS BANK MANAGER,CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING, CHANDANATHOPE P.O, PIN - 691014
2THE AUTHORIZED OFFICERTHE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960,CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING, CHANDANATHOPE P.O, PIN – 691014THE QUILON CO-OPERATIVE URBAN BANK LIMITED NO.960,CHANDANATHOPE BRANCH, JYOTHI BHAVAN BUILDING, CHANDANATHOPE P.O, PIN – 691014
SMT.RENUE DP-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSIONON 30.12.2022, THE COURT ON THE SAME DAY DELIVERED THEFOLLOWING:
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JUDGMENT
Dated this the 30[th] day of December, 2022
The petitioner is owner in possession of 1.70 Ares of property in Re-Survey No.566/4 of Block No.14 of PerinadVillage, Kollam Taluk in Kollam District. The petitioner availedloan of ₹3,00,000/- against the property mentioned aboveincluding a residential building, from the respondent-Bank.
2. The petitioner submits that the initial instalmentstowards the loan account was promptly made by thepetitioner. However, due to financial stringency, he wasunable to pay the instalments as agreed. The 1[st] respondentapproached the Chief Judicial Magistrate, Kollam filing M.C.No.367/2022 and an Advocate Commissioner has beenappointed in that case. Thereafter, the AdvocateCommissioner issued a notice to the petitioner under Section
14(1) of the Securitization and Reconstruction of FinancialAssets and Enforcement of Security Interest Act, 2002. Thepossession of the above said property is scheduled to be heldon 29.12.2022. The petitioner states that he is ready to clearoff the arrears in instalments.
3. The Standing Counsel representing therespondents submits that the total amount due from thepetitioner as on today is ₹3,11,202/-.
4. Heard the learned counsel for the petitioner andSmt.Renu D.P., the learned Standing Counsel representingthe respondents.
Heard the learned counsel for the petitioner and In the facts and circumstances of the case, the writpetition is disposed permitting the petitioner to clear off theentire liabilities due to the respondents in ten Equal MonthlyInstalments. The first of such instalments shall be paid on orbefore 15.01.2023 and the remaining nine instalments shall be paid in the consecutive months. If the petitioner commitsany defaults in paying any instalments as directed above, therespondents will be at liberty to proceed against the petitionerin accordance with law. If the petitioner remits the instalmentsas directed above, all coercive proceedings against thepetitioner shall stand deferred. Needless to say, the petitionerwill be liable to pay accruing interest and other charges, if any.
spk
Sd/-N.NAGARESHJUDGE
APPENDIX OF WP(C) 42918/2022
PETITIONER EXHIBITSExhibit P1A TRUE COPY OF THE NOTICE ISSUED BYTHE ADVOCATE COMMISSIONER IN MC NUMBER367/2022 DATED 13-12-2022
RESPONDENTS’ EXHIBITS : NIL