Disposed

Sidheeque v. Kerala State Financial Enterprises Limited

Kerala HC13 Jan 2023WP(C)/166/2023

Case brief

AI extract

What is this about?

Petitioners sought relief regarding default on loans from Kerala State Financial Enterprises Limited. The Court permitted repayment of arrears in 15 installments and stayed recovery proceedings contingent on timely payment. A single default would revoke the benefit.

What did the court decide?

Arrears permitted to be repaid in 15 installments; recovery proceedings stayed pending payment.

Sidheeque Vs Kerala State Financial Enterprises Limited — Banking and Recovery | Kerala HC (2023)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MR.JUSTICE V.G.ARUN

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FRIDAY, THE 13^TH DAY OF JANUARY 2023 / 23RD POUSHA, 1944

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WP(C) NO. 166 OF 2023

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PETITIONERS:

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1	SIDHEEQUE
	AGED 46 YEARS
	S/O.SULAIMAN,
	VENKALAM HOUSE,
	PALLIKKAL BAZAR PO,
	MALAPPURAM DISTRICT
	PIN - 673634
2	HASEENA.C
	AGED 38 YEARS
	W/O.SIDHEEQUE,
	VENKALAM HOUSE, PALLIKKAL BAZAR PO,
	MALAPPURAM DISTRICT
	PIN - 673634
	BY ADVS.
	DIVYA B.NAIR
	ASHARAF PUTHIYOTTIL

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RESPONDENTS:

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1	KERALA STATE FINANCIAL ENTERPRISES LIMITED CHALIYAR SHOPPING COMPLEX, RAMANATTUKARA, KERALA
	REPRESENTED BY ITS BRANCH MANAGER, PIN - 673633
2	THE BRANCH MANAGER , KERALA STATE FINANCIAL ENTERPRISES LIMITED CHALIYAR SHOPPING COMPLEX, RAMANATTUKARA, KERALA PIN – 673633
	BY ADV. SALIL NARAYANAN, STANDING COUNSEL

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C)NO.166 OF 2023

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JUDGMENT

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Dated this the 13^th day of January, 2023

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The petitioners availed two loans from the Kerala

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State Financial Enterprises Ltd. (K.S.F.E.) and committed default. This triggered revenue recovery proceedings against the petitioners and their property. property. Hence, this writ petition.

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Learned Counsel for the petitioners submitted that the default was not willful and the petitioners are willing to repay the amount, if an opportunity is granted to pay off the amount in reasonable installments.

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Learned Standing Counsel for the K.S.F.E. submitted that, with respect to one loan, the amount in arrears is Rs.3,73,862/- as on 09.01.2023 and in relation to the other, the arrears is Rs.2,34,889/-. It is submitted

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that if at all opportunity is granted for repayment in installments, that should be limited to the minimum.

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The writ petition is hence disposed of as under;

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i. The petitioners are permitted to repay the arrears under the 2 loans, with interest and

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W.P.(C)NO.166 OF 2023

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costs if any, in 15 equated monthly installments.

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ii. The first installment shall be paid on or before 15.02.2023 and the balance installments, before the 15^th of every succeeding month.

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iii. Default in repayment of any one of the installments will result in the benefit granted under this judgment being withdrawn and the K.S.F.E. being at liberty to continue the recovery proceedings.

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iv. If the installments are paid without default, the recovery proceedings shall be kept in abeyance.

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v. Along with the installments towards arrears, petitioners shall also pay the regular EMI promptly.

Sd/-

V.G.ARUN

JUDGE

NB/13-1

W.P.(C)NO.166 OF 2023

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APPENDIX OF WP(C) 166/2023

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PETITIONERS’ EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE RECOVERY NOTICE DATED 25-112022 ISSUED BY THE RESPONDENT BANK EXHIBIT P2 TRUE COY OF THE MEDICAL CERTIFICATE ISSUED BY THE 24X7 PRIMARY HEALTH CENTRE, PALLIKKAL DATED 14-12-2022 EXHIBIT P3 TRUE COPY OF THE TAX RECEIPT DATED 01/10/2022 ISSUED BY THE PALLIKKAL VILLAGE OFFICER

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RESPONDENTS’ EXHIBITS: NIL

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TRUE COPY

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P.A. TO JUDGE

Sidheeque v. Kerala State Financial Enterprises Limited

Case brief

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What did the court decide?

Sidheeque v. Kerala State Financial Enterprises Limited

Case brief

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