Kerala High Court
WP(C)/11084/2025 of NOUSHAD, Vs THE AUTHORIZED OFFICER, on 28 March 2025
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 11084 OF 2025 PETITIONER: NOUSHAD, AGED 40 YEARS, S/O. MUHAMMED KUTTY, PARAPPURATHU HOUSE, THRIKKADEERI P.O., OTTAPPALAM, PALAKKAD, PIN
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947
WP(C) NO. 11084 OF 2025
PETITIONER:
NOUSHAD,
AGED 40 YEARS,
S/O. MUHAMMED KUTTY, PARAPPURATHU HOUSE, THRIKKADEERI
P.O., OTTAPPALAM, PALAKKAD, PIN – 679502.
BY ADV M.R.SASITH
RESPONDENTS:
THE AUTHORIZED OFFICER,
THE CHERPULASSERY CO-OPERATIVE URBAN BANK LTD. NO.1696, KAVUVATTOM, CHERPULASSERY P.O., PALAKKAD, PIN – 679503.
THE CHERPULASSERY CO-OPERATIVE URBAN BANK LTD. NO.1696, MAIN BRANCH, REPRESENTED BY ITS BRANCH MANAGER, KAVUVATTOM, CHERPULASSERY P.O., PALAKKAD, PIN – 679503.
THE BRANCH MANAGER,
THE CHERPULASSERY CO-OPERATIVE URBAN BANK LTD.NO.1696, MAIN BRANCH, KAVUVATTOM, CHERPULASSERY P.O., PALAKKAD, PIN – 679503.
BY SRI. SAJEEVKUMAR K. GOPAL, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioner.
2. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in instalments.
3. The learned counsel for the respondent Bank submits that the loan account cannot be regularized as the property of the petitioner was already brought to sale and was purchased by the Bank. It is submitted that the property is now a Non Banking Asset of the respondent Bank. It is submitted that the petitioner committed default in repayment of a housing loan and the outstanding amount as on today (28.03.2025) is Rs.13,64,711/- (Rupees thirteen lakhs sixty four thousand seven hundred and eleven only). 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 petitioner can be granted an opportunity to repay the outstanding amount along with any accrued interest, costs and charges in 12 instalments.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.13,64,711/- (Rupees thirteen lakhs sixty four thousand seven hundred and eleven only) along with any accrued interest, costs and charges from the petitioner in the following manner:-
(i) The petitioner shall pay the outstanding amount of Rs.13,64,711/- (Rupees thirteen lakhs sixty four thousand seven hundred and eleven only) along with any accrued interest, costs and charges in 12 equated monthly instalments;
(ii) The first instalment shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on or before the 15th 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 petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.
Considering the fact that considerably liberal instalments have been granted to the petitioner, it is made clear that no further application for extension of time will be considered under any circumstances. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK
APPENDIX OF WP(C) 11084/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE SALE NOTICE ISSUED BY THE 1ST RESPONDENT AS NEWSPAPER PUBLICATION ON 02.01.2025.