Kerala High Court
WP(C)/11728/2025 of MINI.K.M, Vs THE PAYANGADI URBAN CO-OPERATIVE BANK LTD., on 2 April 2025
COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 11728 OF 2025 PETITIONER/S: MINI.K.M, AGED 43 YEARS W/O SAJEEVAN KUTHIRUMMAL, KAMALALAYAM', THAVAM, CHERUKUNNU.P.O, KANNUR DISTRICT, PIN - 67030 BY
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947
WP(C) NO. 11728 OF 2025
PETITIONER/S:
MINI.K.M,
AGED 43 YEARS
W/O SAJEEVAN KUTHIRUMMAL, KAMALALAYAM', THAVAM, CHERUKUNNU.P.O, KANNUR DISTRICT, PIN - 67030
BY ADVS.
P.S.BINU
K.SEENA
RESPONDENT/S:
THE PAYANGADI URBAN CO-OPERATIVE BANK LTD., REP. BY ITS BRANCH MANAGER, PAYANGADI
BRANCH,PAYANGADI.P.O, KANNUR DISTRICT, PIN - 670358
AUTHORIZED OFFICER (UNDER SARFAESI ACT) THE
PAYANGADI URBAN CO-OPERATIVE BANK LTD.,
HEAD OFFICE, PAYANGADI.P.O, KANNUR DISTRICT, PIN - 670358
OTHER PRESENT:
SRI.LIJIN THAMBAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
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JUDGMENT
The petitioner had availed a housing loan from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioner to approach this court by filing the above writ petition.
2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in some installments.
3. The learned counsel appearing for the respondent Bank submits that the loan accounts of the petitioner cannot be regularised. It is submitted that as on 28.03.2025, the outstanding amount in loan account is Rs.11,86,546/-. The bank has no objection in granting some reasonable installments to clear the liabilities provided substantial amount will be paid immediately.
4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount on condition that the petitioner will pay a sum of Rs.1,00,000/- on or before 30.04.2025 and the balance outstanding amount in twelve installments.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.11,86,546/- along with interest, bank charges and costs from the petitioner in the following manner:
(i) The petitioner shall pay an amount of Rs.1,00,000/- on or before 30.04.2025 and the balance outstanding amount together with any accrued interest, bank charges and costs in twelve (12) equated monthly instalments;
(ii) The first instalment shall be paid on or before
30.05.2025 and subsequent instalments shall be paid on or before last working day of each succeeding month;
(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 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) 11728/2025 PETITIONER EXHIBITS Exhibit p1 COPY OF THE DISCHARGE NOTE ISSUED FROM DR. AGARWALS EYE HOSPITAL, CHENNAI DATED 25.11.2024 Exhibit P2 COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN C.M.P NO.983/2024 OF THE C.J.M COURT, THALASSERY DATED 10.05.2024 Exhibit P3 COPY OF THE PETITION IN C.M.P NO.983/2024 ON THE FILE OF CHIEF JUDICIAL MAGISTRATE COURT, THALASSERY DATED 13.02.2024 Exhibit P4 COPY OF THE ORDER IN CMP NO.983/2024 ON THE FILE OF CJM COURT, THALASSERY DATED 27.02.2024