High Court of KeralaWP(C)/17500/2015disposed of

N.Sasidhar v. Indian Overseas Bank

2015-07-10Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE FRIDAY, THE 10TH DAY OF JULY 2015/19TH ASHADHA, 1937 WP(C).No. 17500 of 2015 (J) ---------------------------- PETITIONER :

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1. N.SASIDHAR, KAREKKAD HOUSE, PULPETTA P.O., KALATHUMPADI MALAPPURAM-676126.

2. C.A.SUGANDHI, KAREKKAD HOUSE, PULPETTA P.O., KALATHUMPADI MALAPPURAM-676126.

BY ADVS.SRI.S.PRASANTH (AYYAPPANKAVU) SMT.VARSHA BHASKAR RESPONDENT :

----------------------- INDIAN OVERSEAS BANK, MANJERI BRANCH, REPRESENTED BY ITS MANAGER OPP.NEW BUS STAND, PANDIKADU ROAD, MANJERI-676121 MALAPPURAM DISTRICT.

BY ADV. SRI.SUNIL SHANKAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10-07-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

Mn ...2/-

WP(C).No. 17500 of 2015 (J) ----------------------------------------- APPENDIX PETITIONERS' EXHIBITS :

------------------------------------- EXT.P1 TRUE COPY OF THE BANK STATEMENT FOR TWO LOAN AMOUNTS OF RS.15 LAKH EACH TAKEN BY THE PETITIONERS.

EXT.P2 TRUE COPY OF THE CERTIFICATE OF THE MEDICAL BOARD, DISTRICT HOSPITAL, MANJERI CERTIFYING THAT THE 1ST PETITIONER HAS 80% DISABILITY.

EXT.P3 TRUE COPY OF THE APPOINTMENT ORDER DATED 1-6-2010 ISSUED BY THE MANAGER TO THE 2ND PETITIONER.

EXT.P4 TRUE COPY OF THE LETTER DATED 16-3-2015 SENT BY THE SECRETARY TO GOVERNMENT,GENERAL EDUCATION DEPARTMENT, TO THE DISTRICT EDUCATIONAL OFFICER, WANDOOR. EXT.P5 TRUE COPY OF THE POSSESSION NOTICE DATED 24-4-2015 ISSUED BY THE RESPONDENT.

RESPONDENT(S)' EXHIBITS : NIL --------------------------------------------------------- //TRUE COPY// P.A. TO JUDGE Mn

A.MUHAMED MUSTAQUE, J.

------------------------------------ W.P.(C).No.17500 of 2015 ----------------------------------- Dated this the 10th day of July, 2015

J U D G M E N T

The petitioners, husband and wife, have availed housing loan from the respondent Bank. On account of default in repaying the loan amount, the Bank initiated 'SARFAESI' proceedings against them. The same is under challenge in this writ petition.

2. The learned Standing Counsel for the Bank submits that, the petitioners had taken two housing loans form the respondent Bank and the total overdue amount is around 13 lakhs and the ₹ liability in more than 35 lakhs.

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3. The learned counsel for the petitioners submits that, the petitioners are prepared to clear the overdue amount, if some breathing time is given and that, the Bank may be directed to regularise the account. It is further submitted that, the 1st petitioner has become 80% blind and the salary due to the 2nd petitioner, being a teacher, is yet to be received from the Government and if she receives the salary arrears which is accountable for more than five years, they would be able to clear the entire overdue amount.

4. Considering the facts and circumstances of the case, this writ petition is disposed of with the following directions :

1. The petitioners shall remit regular EMIs from this month onwards.

W.P.(C).No.17500 of 2015

2. The petitioners are given four months time from today to clear the entire overdue amount.

3. If the petitioners satisfy the above conditions, the Bank shall regularise the account.

4. If the petitioners fail to comply with any of the conditions, the Bank is free to proceed against the petitioners.

Sd/- A.MUHAMED MUSTAQUE, JUDGE.