Kerala High Court
WP(C)/46517/2024 of JOHNSON K.I., Vs THE AUTHORIZED OFFICER, on 10 April 2025
OF 2024 1 2025:KER:31462 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 10TH DAY OF APRIL 2025 / 20TH CHAITHRA, 1947 WP(C) NO. 46517 OF 2024 PETITIONERS: 1 JOHNSON K.I., AGED 69 YEARS S/O. ISSAC, KALATHUNKAL HOUSE, VADAKARA P.O.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 10TH DAY OF APRIL 2025 / 20TH CHAITHRA, 1947
WP(C) NO. 46517 OF 2024
PETITIONERS:
JOHNSON K.I.,
AGED 69 YEARS
S/O. ISSAC, KALATHUNKAL HOUSE, VADAKARA P.O.
THALAYOLAPARAMBU, KOTTAYAM DISTRICT, PIN - 686605
RANI JOHNSON,
AGED 64 YEARS
W/O. JOHNSON K.I., KALATHUNKAL HOUSE, VADAKARA P.O., THALAYOLAPARAMBU, KOTTAYAM DISTRICT, PIN - 686605
BY ADVS.
K.T.SAJU
SANEESH KUNJUKUNJU
RESPONDENT/S:
THE AUTHORIZED OFFICER,
KERALA STATE CO OPERATIVE BANK LTD., NO.151-B, GROUND
FLOOR, THIRUVANANTHAPURAM, PIN - 675033
OTHER PRESENT:
SRI. ATHUL SHAJI, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Petitioners have approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the bank for recovery of the amounts due from the petitioners.
2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the outstanding amount in instalments.
3. It is submitted on behalf of the respondent bank that the petitioners committed default in repayment of a loan and the outstanding amount as on 02.04.2025 is Rs.7,36,996/-. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the outstanding amount in limited instalments.
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 the outstanding amount in 12 instalments.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.7,36,996/- along with any accrued interest, costs and charges from the petitioners in the following manner:
(i) The outstanding amount of Rs.7,36,996/- along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments;
(ii) The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months;
(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law;
(iv) 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
APPENDIX OF WP(C) 46517/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 16.12.2024 ISSUED BY THE ADVOCATE COMMISSIONER