Kerala High Court
WP(C)/14492/2025 of SUNIL, Vs AUTHORISED OFFICER, QUILON CO OPERATIVE URBAN BANK LIMITED, on 8 April 2025
W.P.(C) No.14492 of 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 14492 OF 2025 PETITIONER/S: SUNIL, AGED 48 YEARS S/0. NANU, KAKKOLIL, KUNDARA P.O., KOLLAM, PIN - 691501 BY
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947
WP(C) NO. 14492 OF 2025
PETITIONER/S:
SUNIL,
AGED 48 YEARS
S/0. NANU, KAKKOLIL, KUNDARA P.O., KOLLAM, PIN - 691501
BY ADVS.
V.I.RAHUL
SHIFA LATHEEF
RESPONDENT/S:
AUTHORISED OFFICER, QUILON CO OPERATIVE URBAN BANK
LIMITED,
POWER HOUSE ROAD, CHINNAKADA, KOLLAM EAST VILLAGE, KOLLAM TALUK, KOLLAM, PIN - 691001
OTHER PRESENT:
SMT. D.P.RENU, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a loan availed by the petitioner's wife.
2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.
3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 08.04.2025 is Rs.1,84,090/-. 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 overdue amount in limited instalments and regularise the loan account.
4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 30.04.2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.1,84,090/- along with interest, bank charges and costs from the petitioner and regularise the loan account in question in the following manner:
(i) The petitioner shall pay the overdue amount of Rs.1,84,090/- together with any accrued interest, bank charges and costs in ten 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 last working day of each succeeding month;
(iii) Petitioner shall continue to pay the regular EMI’s/ instalments along with the instalments directed above;
(iv) In the event of default of any one instalment, the
respondent bank shall be entitled to proceed in accordance with the law;
(v) In order to enable the petitioner 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 Scl/
APPENDIX OF WP(C) 14492/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 18- 08-2022 SEND BY THE RESPONDENTS TO THE PETITIONER Exhibit P2 TRUE COPY OF THE ORDER OF THE CHIEF JUDICIAL MAGISTRATE COURT,KOLLAM IN MC 745/2024 DATED 02-09-2024 Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 20-03-2025