Kerala High Court
WP(C)/8450/2025 of MAIMOONA VALAPPIL, Vs THE NILABMUR CO-OPEREATIVE URBAN BANK LIMITED, on 1 April 2025
W.P (C) No.8450/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 8450 OF 2025 PETITIONER/S: MAIMOONA VALAPPIL, AGED 52 YEARS, W/O. ABOOBACKER, VALAPPIL HOUSE, PANTHALINGA,
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947
WP(C) NO. 8450 OF 2025
PETITIONER/S:
MAIMOONA VALAPPIL,
AGED 52 YEARS, W/O. ABOOBACKER, VALAPPIL HOUSE, PANTHALINGA, MEPPADAM P.O., MALAPPURAM, PIN - 676542
BY ADVS.
SIDHARTH O.
SUSANTH SHAJI
ALBIN A. JOSEPH
NEKHA VARGHESE
RINSHAD T.P.
RESPONDENT/S:
THE NILABMUR CO-OPEREATIVE URBAN BANK LIMITED, POST BOX NO.10, HEAD OFFICE, NILAMBUR P.O., MALAPPURAM
DIST., KERALA, REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 679329
THE AUTHORIZED OFFICER,
NILAMBUR COOPERATIVE URBAN BANK LTD., POST BOX NO. 10, HEAD OFFICE, NILAMBUR P.O., MALAPPURAM DIST., KERALA, PIN - 679329
BY ADVS.
RAMESH BABU T
C.K.SREEJITH(K/2048/1999)
NIMISHA P. SHANMUGHAN(K/000856/2022)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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J U D G M E N T
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 Cash Credit facility availed by the petitioner.
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 01-04-2025 is Rs.5,66,005/-. 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.5,66,005/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:
(i) The overdue amount of Rs.5,66,005/- together with any accrued interest, bank charges and costs shall be repaid 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 AMG
APPENDIX OF WP(C) 8450/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ORDER DATED 23.09.2024 IN MC NO 920/2024 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI Exhibit P2 TRUE COPY OF THE PETITION IN MC NO. 920/2024 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE ADOVCATE COMMISSIONER IN IN MC NO. 920/2024 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI Exhibit P4 TRUE COPY OF THE REPRESENTATION SENT THROUGH EMAIL BY THE PETITIONER DATED 04.12.2024