Dismissed

Moses I. @ Imbaraj Moses, v. Indian Bank

Kerala HC25 Mar 2025WP(C)/11499/2025

Case brief

AI extract

What is this about?

Petitioners in a writ petition sought regularization of loan accounts and installment payments for disputed credit dues under SARFAESI Act. The bank declined regularization despite settlement proposals. The Court dismissed the writ petition, holding no relief can be granted.

What did the court decide?

Petitioners' prayer for regularization and installment scheme dismissed as no relief can be granted under SARFAESI provisions in these facts and circumstances.

Moses I. @ Imbaraj Moses, Vs Indian Bank — Specific Performance | Kerala HC (2025)

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WP(C) NO. 11499 OF 2025

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2025:KER:26056

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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 GOPINATH P.

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TUESDAY, THE 25TH DAY OF MARCH 2025 / 4TH CHAITHRA, 1947

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WP(C) NO. 11499 OF 2025

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PETITIONERS:

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1MOSES I. @ IMBARAJ MOSES,
AGED 48 YEARS
S/O. IMBARAJ, 'MELETHERUVIL', NARAKATHODU, PUTHUPPALLY,
KOTTAYAM, PIN - 686011

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2JOHNCI PABILA,
AGED 46 YEARS
W/O. MOSES I. ALIAS IMBARAJ MOSES, 'MELETHERUVIL',
NARAKATHODU, PUTHUPPALLY, KOTTAYAM DISTRICT, PIN -
686011

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BY ADVS.
R.MURALEEDHARAN
LULU MARY VARGHESE

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RESPONDENTS:

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1INDIAN BANK,
KOTTAYAM BRANCH, BENNIE'S INN TOWER, SHASTRY ROAD,
KOTTAYAM, KOTTAYAM DISTRICT, REPRESENTED BY THE CHIEF
MANAGER, PIN - 686001

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2 SRI. ATHUL JOSE, ADVOCATE COMMISSIONER IN M.C. NO. 596, BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, KOTTAYAM, WEST OF POLICE PARADE GROUND, BEHIND COLLECTORATE, KOTTAYAM, PIN - 686002

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SRI. BINOY VASUDEVAN, SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 11499 OF 2025

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2025:KER:26056

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JUDGMENT

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The petitioners have availed several credit facilities from the respondent bank. On default being committed, the bank has initiated proceedings against the petitioners under the provisions of the SARFAESI Act to recover the amounts due to the Bank.

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The learned counsel appearing for the petitioners would submit that the petitioners are willing to regularize the loan accounts by paying the overdue amount in all the loans in some installments. It is submitted that the major liability arises out of a cash credit loan and if that loan is permitted to be regularized, the petitioners may be in a position to pay off the amounts due in all the other loans immediately.

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Learned counsel appearing for the respondent bank submits that the bank is not willing to regularize any of the loan accounts. It is submitted that pursuant to the directions issued by this Court, the proposal for settlement given by the petitioners was considered and rejected by the bank. It is submitted that the outstanding amount as on 20.03.2025 is Rs.1,16,97,493/- and the proposal given by the petitioners was to settle the entire liability by paying a sum of Rs.37,00,000/-. It is submitted that the loans cannot be regularized and all that can be done is that some installments can be granted

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WP(C) NO. 11499 OF 2025

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2025:KER:26056

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to the petitioners to clear the outstanding amount.

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The learned counsel appearing for the petitioners would submit that the petitioners are not in a position to pay off the entire outstanding liability in installments at present.

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Having heard the learned for the petitioner and the learned counsel appearing for the respondent bank and having regard to limited nature of the jurisdiction exercised by this Court, in matters arising under the SARFAESI Act and in the facts and circumstances noticed above, I am of the view that no relief can be granted to the petitioners.

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This Writ Petition fails and is accordingly dismissed.

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sd/-

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GOPINATH P.

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JUDGE

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Nsd

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WP(C) NO. 11499 OF 2025

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2025:KER:26056

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APPENDIX OF WP(C) 11499/2025

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PETITIONER EXHIBITS

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Exhibit P-1

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TRUE COPY OF THE NOTICE ISSUED UNDER
SEC.13(2) OF THE ACT, BY THE 1ST RESPONDENT
DATED 27.10.2023

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Exhibit P-2TRUE COPY OF THE STATEMENT OF ACCOUNTS OF THE
HOUSING LOAN ACCOUNT, OBTAINED FROM THE BANK,
DT.07.01.2025

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Exhibit P-3TRUE COPY OF THE POSSESSION NOTICE ISSUED
UNDER RULE 8(1) BY THE 2ND RESPONDENT,
DT.11.10.2024

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Exhibit P-4TRUE COPY OF THE APPLICATION SUBMITTED BY THE
PETITIONER SEEKING ONE TIME SETTLEMENT,
DT.27.02.2025

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Exhibit P-5TRUE COPY OF THE COMMUNICATION DATED
28.02.2025 SERVED TO THE PETITIONERS FROM THE
1ST RESPONDENT

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Exhibit P-6TRUE COPY OF THE FRESH APPLICATION SUBMITTED
BY THE 1ST PETITIONER FOR OTS DATED
15.03.2025

Moses I. @ Imbaraj Moses, v. Indian Bank

Case brief

What is this about?

What did the court decide?

Moses I. @ Imbaraj Moses, v. Indian Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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