Kerala High Court
Muhammed Rafeeque vs The Authorized Officer on 24 September, 2024
Author: A.Muhamed Mustaque
Bench: A.Muhamed Mustaque
2024:KER:71503
W.A.No.1302 of 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE THE ACTING CHIEF JUSTICE MR. A.MUHAMED MUSTAQUE
&
THE HONOURABLE MR. JUSTICE S.MANU
TUESDAY, THE 24TH DAY OF SEPTEMBER 2024 / 2ND ASWINA, 1946
WA NO. 1302 OF 2024
AGAINST THE JUDGMENT DATED 30.07.2024 IN WP(C)
NO.22594 OF 2024 OF HIGH COURT OF KERALA
APPELLANT/PETITIONER:
MUHAMMED RAFEEQUE,
AGED 65 YEARS
S/O.MAMMU HAJI, RESIDING AT KARORATH HOUSE,
KUNINHAD P.O., PURAMERI VIA, VADAKARA, KOZHIKODE,
PIN - 673503
BY ADVS.
B.KRISHNA MANI
DHANUJA M.S
N.V.SANDHYA
RESPONDENT:
THE AUTHORIZED OFFICER,
IDBI BANK LTD., GROUND FLOOR AND FIRST FLOOR,
CITY PLAZA, YMCA CROSS ROAD, KOZHIKODE,
PIN - 673001
THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON
24.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
2024:KER:71503
W.A.No.1302 of 2024
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A.MUHAMED MUSTAQUE, Acg.C.J. & S.MANU, J.
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W.A.No.1302 of 2024
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Dated this the 24th day of September, 2024
JUDGMENT
S.MANU, J.
Appellant approached this Court in W.P. (C)No.22594/2024 challenging demand notice issued under Section 13(2) of the SARFAESI Act and possession notice issued later. By interim order dated 25.6.2024 learned Single Judge directed the appellant to deposit Rs.6,00,000/-. Appellant complied with the direction. When the writ petition was taken up for final hearing, it was submitted by the learned counsel for the Bank that the total outstanding amount in respect of the loan is Rs.1,43,00,000/- and the overdue amount is Rs.6,50,000/-. The Bank submitted before the learned Single Judge that if the appellant pays the overdue amount in four installments with regular installments the Bank shall regularize the loan account. The 2024:KER:71503 W.A.No.1302 of 2024 3 learned Single Judge therefore disposed the writ petition directing the petitioner to pay the overdue amount of Rs.6,50,000/- in four installments along with regular installments. The first installment was directed to be paid on or before 20.08.2024 and remaining three installments on or before fifteenth day of each succeeding month along with regular installments. Further, the petitioner was directed to continue to pay regular EMI as per the terms of the loan agreement.
2. Appellant submits that in order to make the payment of overdue amount along with regular installments without further default, he may be granted eight installments instead of four installments provided. Learned counsel for the Bank objected to granting of more installments.
3. We note that the appellant made a lump sum payment as directed by the learned Single Judge by way of interim order. The Bank fairly agreed for providing installment facility. Taking note of the bonafides of the 2024:KER:71503 W.A.No.1302 of 2024 4 appellant expressed by making the payment in compliance with the interim order and fact that the overdue amount is Rs.6,50,000/- we deem it appropriate to re-fix the installments as six, commencing from 05.10.2024. Remaining installments shall be paid without fail on or before fifth day of each succeeding month along with regular installments. Bank will be free to proceed against the appellant in case of failure to pay any of the installments. It will be open to the appellant to approach the Bank for any other beneficial arrangement as acceptable also to the Bank.
Writ appeal is disposed of with the above directions.
Sd/-
A.MUHAMED MUSTAQUE, ACTING CHIEF JUSTICE Sd/-
S.MANU, JUDGE skj