Allowed

Nishad, v. Authorized Officer

Kerala HC4 Oct 2023WP(C)/32546/2023

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed by a loan defaulters. The Court directed the bank to regularize the loan account and allow repayment of the overdue amount in 12 monthly installments. The Court also directed the SARFAESI proceedings against the petitioner to be kept in abeyance during this period.

What did the court decide?

Respondent Bank directed to regularize loan account by accepting overdue amount of Rs.38,50,112 along with charges in 12 equal monthly installments; SARFAESI proceedings kept in abeyance.

Nishad, Vs Authorized Officer — Specific Performance | 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 K. BABU

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WEDNESDAY, THE 4TH DAY OF OCTOBER 2023 / 12TH ASWINA, 1945
WP(C) NO. 32546 OF 2023

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PETITIONER:

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NISHAD,
AGED 45 YEARS
S/O.KUNJUMUHAMMED, MANAYIL HOUSE, VADAKKEKKAD DESOM,
CHAVAKKAD TALUK, THRISSUR, PIN - 679562

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BY ADVS.
S.SUNIL KUMAR (PALAKKAD)
LEKSHMI S.SEKHER
FEMY M.ANTONY
K.J.SUNIL

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RESPONDENT:

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AUTHORIZED OFFICER,

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KERALA STATE CO-OPERATIVE BANK LTD, VADAKKEKKAD BRANCH,
AL NOOR COMPLEX, EDAKKARA ROAD, MUKKILAPEEDIKA,
VADAKKEKKAD.PO, THRISSUR, PIN - 679562

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
04.10.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO.32546 OF 2023

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K.BABU, J.

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W.P.(C).No.32546 of 2023

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Dated this the 04^th day of October, 2023

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J U D G M E N T

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The prayers in this Writ Petition filed under Article 226

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of the Constitution of India are as follows:-

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“i) Issue a writ of Mandamus or any other appropriate writ or order or direction directing the Respondent bank to permit the petitioner to pay the total overdue amount in easy monthly instalments along with the regular EMI and thereby regularise the loan account.

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ii) Issue a writ of Mandamus or any other appropriate writ or order or direction directing the Respondent bank to withdraw all SARFAESI proceedings initiated against the Petitioner pursuant Exhibit-P1.

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iii) To direct respondent bank to serve a copy of an advocate commission notice to Petitioner as directed in the Exhibit-P2 order at the earliest.

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iv. To pass any other order as this court deems fit.

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Heard both sides.

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3. The learned Standing Counsel for the respondent

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Bank, upon instructions, submits that the Bank is agreeable to

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permit the petitioner to remit the overdue amount in 12 equal monthly instalments.

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WP(C) NO.32546 OF 2023

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In the above circumstances, the Writ Petition is

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disposed of with the following directions:-

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(i) Respondent Bank is directed to regularize

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the loan account by accepting repayment of the entire overdue amount of Rs.38,50,112/along with Bank charges from the petitioner.

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(ii) The petitioner shall remit the overdue amount of Rs.38,50,112/- together with any accrued interest and charges in 12 equal monthly instalments.

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(iii) The first instlament shall be paid on or before 30.10.2023 and subsequent instalments shall be paid on the last working day of every succeeding month.

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(iv) The petitioner shall continue to pay the regular EMIs in terms of the contract.

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(v) In the event of default of any one instalment, the respondent Bank is entitled to proceed in accordance with law.

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WP(C) NO.32546 OF 2023

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(vi) The proceedings initiated under the SARFAESI Act against the petitioner shall be kept in abeyance to facilitate repayment as

stated above.

Sd/-

K.BABU, JUDGE

SMF

WP(C) NO.32546 OF 2023

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APPENDIX OF WP(C) 32546/2023

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PETITIONER EXHIBITS

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EXHIBIT P1TRUE COPY OF THE SECTION-14 PETITION AS MC
NO-538/2022 FILED BEFORE HONBLE CHIEF
JUDICIAL MAGISTRATE COURT, THRISSUR BY THE
RESPONDENT BANK DATED 01.09.2022
EXHIBIT P2TRUE COPY OF THE ORDER IN MC NO-538/2022
OF HONBLE CHIEF JUDICIAL MAGISTRATE COURT,
THRISSUR DATED 14.10.2022

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//TRUE COPY// PA TO JUDGE

Nishad, v. Authorized Officer

Case brief

What is this about?

What did the court decide?

Nishad, v. Authorized Officer

Case brief

What is this about?

What did the court decide?

What the court decided

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