Kerala High Court
K.Najma vs The Authorized Officer on 29 August, 2016
Author: A.M.Shaffique
Bench: A.M.Shaffique
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE
FRIDAY, THE 9TH DAY OF DECEMBER 2016/18TH AGRAHAYANA, 1938
WP(C).No. 37675 of 2016 (H)
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PETITIONER:
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K.NAJMA, W/O.M.M.NAJEEB,
M SONS VILLAGE, POTTAMMEL JUNCTION,
PALAZHI ROAD, KOZHIKODE.
BY ADV. SRI.JOSE KURIAKOSE (VILANGATTIL)
RESPONDENT:
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THE AUTHORIZED OFFICER,
INDIAN OVERSEAS BANK,
KOZHIKODE, MAIN BRANCH,
CHEROOTTY ROAD, KOZHIKODE - 673001.
BY ADV. SRI.SUNIL SHANKER, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 09-12-2016, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
mbr/
WP(C).No. 37675 of 2016 (H)
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APPENDIX
PETITIONER(S)' EXHIBITS:
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EXHIBIT P1 : TRUE COPY OF THE ENGLISH TRANSLATION OF THE
TITLE DEEDS OF THE PETITIONER'S PROPERTY.
EXHIBIT P2 : TRUE COPY OF THE DEMAND NOTICE DATED 29/8/2016
ISSUED BY THE RESPONDENT.
EXHIBIT P3 : TRUE COPY OF THE OBJECTION DATED 22/10/2016
SUBMITTED BY THE PETITIONER.
EXHIBIT P4 : TRUE COPY OF THE REPLY DATED 12/11/2016 ISSUED
BY THE RESPONDENT TO EXT. P3 OBJECTION.
RESPONDENT(S)' EXHIBITS: NIL
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//TRUE COPY//
P.S. TO JUDGE
mbr/
A.M.SHAFFIQUE, J
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W.P.C.No.37675 of 2016
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Dated this the 9th day of December 2016
J U D G M E N T
Petitioner had taken two loans, of which one is a term loan for Rs.21,00,000/- under the Agri Green Credit Scheme and a Temporary Overdraft of Rs.10,00,000/-. Petitioner had agreed to pay the term loan in monthly instalments. Since there is default in payment of the amount covered by both loans, SARFAESI proceedings had been initiated against the secured asset. Petitioner has a case that the property involved is an agricultural property and therefore no proceedings can be taken under the SARFAESI Act.
2. Statement has been filed by the respondent inter alia stating that the overdue amount as far as the term loan facility would come to Rs.3,74,480/-. In respect of the temporary overdraft, it was given only for a period of one month and no payments have been forthcoming with reference to the said loan account, which is to be paid immediately.
3. As far as the contention of the petitioner that the property is an agricultural property or not, I do not think that this W.P.C.No.37675/2016 2 Court will be justified in considering the said disputed factual issue, in so far as the respondent Bank has denied the said fact. If at all the petitioner has such a case, his remedy is to approach the Debts Recovery Tribunal and seek for appropriate reliefs.
4. Learned counsel for the petitioner only seeks for time to settle the entire liability.
5. Taking into consideration the fact that the petitioner has expressed his intention to repay the loan amount, this writ petition is disposed of as under:
i) That the petitioner shall pay the entire amount due with accrued interest and charges in respect of the temporary overdraft account in ten equal monthly instalments starting from 03/01/2017.
ii) In respect of the term loan account, the petitioner shall pay the overdue amount of Rs.3,74,480/- in ten equal monthly instalments starting from 03/01/2017.
(iii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments in the term loan account as per the agreed terms.
W.P.C.No.37675/2016 3
(iv) If there is default in payment of any of the aforesaid amounts, it shall be open for the respondent Bank to take such steps in accordance with law.
(sd/-) (A.M.SHAFFIQUE, JUDGE) jsr