Petitioner sought to close his loan account and release mortgaged title documents by paying off the liability in instalments.
Petitioner directed to pay Rs.3 lakhs by 30.03.2019 and balance Rs.7,30,000 plus charges/interest by 29.06.2019 to close account and release documents.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
MONDAY ,THE 25TH DAY OF MARCH 2019 / 4TH CHAITHRA, 1941
WP(C).No. 6615 of 2019
PETITIONER/S:
SREEKUMAR, AGED 47 YEARS S/O. RAMAKRISHNAN PILLAI, CHERUTHITTAYIL, EDAVANASSERY, MYNAGAPALLY, KOLLAM 690 519.
BY ADVS. SRI.SHABU SREEDHARAN SHRI.THASBEER AB SMT.RESHMA ABDUL RASHEED SRI.M.YOHANNAN SRI.P.R.VIBHU
RESPONDENT/S:
1 THE AUTHORISED OFFICER (CHIEF MANAGER) CORPORATION BANK LIMITED., ZONAL OFFICE, APOORVA CHAMBERS, SUNNY MEADS LANE, PALAYAM P.O., THIRUVANANTHAPURAM 690 034.
2 THE BRANCH MANAGER, CORPORATION BANK, ALUMKADAVU BRANCH, ALUMKADAVU, KARUNAGAPPALLY P.O., KOLLAM 690 518.
BY ADV. SRI.S.B.PREMACHANDRA PRABHU - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The singular prayer of the petitioner in
this writ petition is that he be allowed to pay off the entire liability in the loan account,
availed of by him from the respondent-Bank, in instalments.
learned Standing Counsel for the Bank, submits that no latitude can be shown to the petitioner because he had earlier approached this Court seeking regularisation of the loan account thus obtaining Ext.P2 judgment; but that he did not comply with the terms of the said judgment. He, however, says that if the petitioner wants to liquidate the loan liability, the Bank will not stand in the way, provided he pays a minimum of Rs. 3 lakhs by the end of this month and the balance of nearly Rs.7,30,000/- within three months thereafter.
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counsel for the petitioner, says that his client is willing to accept this offer and prays that this writ petition be ordered on such terms.
In the afore circumstances, I order this writ petition and direct the petitioner to pay Rs.3 lakhs on or before 30.03.2019; in which event, he will be permitted to pay off the balance of the total outstanding, which is stated to be Rs.7,30,000/-, as on 28.02.2019, along with all applicable charges and interest, on or before 29.06.2019.
Needless to say, if the petitioner pays the amount of Rs.3 lakhs by 30.03.2019 and the balance amount by 29.06.2019, his account will stand closed and the title documents of the property equitably mortgaged will be released to the mortgagor/s without any further delay. However, in the event the petitioner fails to pay the amounts in the manner afore stated, the Bank will be at liberty to take all further
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action under the SARFAESI Act without any
further orders from this Court.
this judgment are peremptory in nature and that the petitioner will have to comply with the same meticulously. I caution the petitioner that no further requests for extension or modification
of this judgment, save in exceptional circumstances, will be permitted and that if the petitioner fails to comply with the directions
herein, he will lose the benefit of this judgment and he will also be foreclosed from challenging the measures/proceedings taken by
the Bank under the SARFAESI Act and impugned in this writ petition before any other alternative Forum or Court.
The writ petition is ordered accordingly.
SD/-
DEVAN RAMACHANDRAN
RR
JUDGE
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APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE TAX RECEIPT ISSUED TO THE PETITIONER FORM THE MYNAGAPPALLY VILLAGE OFFICE DATED 19.8.2017. EXHIBIT P2 THE TRUE COPY OF THE JUDGMENT IN WPC NO. 35959/2018 DATED 7.11.2018. EXHIBIT P3 THE TRUE COPY OF THE MEDICAL RECORDS ISSUED FROM THE RCC, THIRUVANANTHAPURAM DATED 22.1.2019. EXHIBIT P4 THE TRUE COPY OF THE NOTICE DATED 29.1.2019. EXHIBIT P5 THE TRUE COPY OF THE SALE AGREEMENT DATED 25.2.2019. RESPONDENTS' EXHIBITS: ANNEXURE R1(A) TRUE COPY OF THE LETTER DATED 04.02.2019 ISSUED BY JAYANTHI PR TO ADVOCATE COMMISSIONER ANNEXURE R1(2) TRUE COPY OF THE LETTER DATED 15.02.2019 ISSUED BY THE PETITIONER TO THE BANK
1 issue framed by the court
Whether the petitioner can be permitted to pay off the entire loan liability in instalments.
1 provisions across 1 enactments
SREEKUMAR
CORPORATION BANK LIMITED
DEVAN RAMACHANDRAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
