Kerala High Court
P.V.P.Babu vs Kozhikode District Co-Operative Bank ... on 28 March, 2019
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
THURSDAY ,THE 28TH DAY OF MARCH 2019 / 7TH CHAITHRA, 1941
WP(C).No. 8677 of 2019
PETITIONER/S:
1 P.V.P.BABU, AGED 53 YEARS
S/O KRISHNAN, PUTHIYOTTUMKANDI MEETHAL HOUSE CHORODE
EAST P.O,., VADAKARA,
KOZHIKODE DISTRICT, PIN-673106.
2 K.MAHIJA, AGED 42 YEARS, W/O P.V.P. BABU,
PUTHIYOTTUMKANDI MEETHAL HOUSE,
CHORODE EAST P.O., VADAKARA,
KOZHIKODE DISTRICT, PIN-673 106.
BY ADVS.
SRI.A.BALAGOPALAN
SMT.P.SEENA
SRI.A.RAJAGOPALAN
SRI.M.N.MANMADAN
SRI.M.S.IMTHIYAZ AHAMMED
RESPONDENT/S:
1 KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD,NO.F1635
HEAD OFFICE (RECOVERY SECTION), P.B.NO.503, KALLAYI
ROAD, CHALAPPURAM P.O., KOZHIKODE-673 002 REPRESENTED
BY ITS SENIOR MANAGER.
2 THE AUTHORISED OFFICER
KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD.,
P.B.NO.503, KALLAYI ROAD, CHALAPPURAM P.O.,
KOZHIKODE-673 002.
BY ADV
SRI.P.C.SASIDHARAN-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.03.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC 8677/19
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JUDGMENT
Through this writ petition, the petitioners call into question certain proceedings initiated and being pursued by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act ('the SARFAESI Act' for brevity).
2. I have heard the learned counsel for the petitioners and the learned counsel for the respondent Bank.
3. As I proceed to consider the reliefs prayed for by the petitioners herein, I am conscious that I am jurisdictionally proscribed from entering into any enquiry or consideration of the legality or otherwise of the orders impugned in this writ petition on account of the imperative statutory provisions and the binding judicial pronouncements, especially that of the Hon'ble Supreme Court in Union Bank WPC 8677/19 3 of India v. Satyawati Tondon [(2010) 8 SCC 110] and in Authorised Officer, State Bank of Travancore and Another v. Mathew K.C. [2018 (1) KLT 784]. I, therefore, cannot and do not propose to consider any of the legal contentions raised by the petitioners on its merits.
4. However, obviously being aware of this, the learned counsel appearing for the petitioners has prayed that notwithstanding the limitations of jurisdiction as aforementioned, the petitioners may be granted some leniency or latitude in order to enable them to pay off the overdue amounts in installments.
5. I, therefore, enquired with the learned counsel for the Bank as to whether the request on the part of the petitioners can be allowed, especially on account of the fact that the Banks are only interested in recovering and not in maintaining and keep pending litigations and WPC 8677/19 4 legal proceedings against such recovery. The learned counsel has fairly submitted that the Bank is concerned about recovery at the earliest and that if the petitioners pay off the dues quickly, it would be to their interest also.
6. In view of the fact that the proceedings initiated by the Bank would consume time to culminate in total recovery and taking into account the financial constraints and burden that have been alleged and pleaded by the petitioners, I am inclined to dispose of this writ petition allowing them an opportunity to pay off the overdue amounts demanded by the Bank.
7. The learned counsel for the Bank at this time submits that the petitioners can be allowed to pay off the overdue amount of Rs.2,16,324/- as on 28.02.2019 in not more than eight instalments commencing from 29.04.2019 WPC 8677/19 5 and that the account can thus be regularised by the Bank.
8. The learned counsel for the petitioners says that the petitioners are agreeable to the above offer made by the Bank and therefore that the writ petition may be ordered granting permission to the petitioners to pay off the amount in the manner as afore.
9. In such circumstances, I direct the petitioners to pay off the aforementioned overdue amount of Rs.2,16,324/- as on 28.02.2019, along with applicable charges and interest, in eight equal monthly instalments commencing from 29.04.2019. They shall also, in addition to this, pay the regular EMIs without fail. If such payment is made by the petitioners, their loan account would stand regularised and they would then be at liberty to service the account as per the terms of the loan sanctioned. It goes without saying that if WPC 8677/19 6 there is any default in making the payment as directed above, the benefit granted under this judgment would stand vacated and the Bank will be at liberty to recover the entire liability from the petitioners by continuing with the proceedings from the stage it is on this date.
I make it clear that the directions in this judgment are peremptory in nature and that the petitioners will have to comply with the same meticulously. I caution the petitioners that no further requests for extension or modification of this judgment, save in exceptional circumstances, will be permitted and that if the petitioners fail to comply with the directions herein, they will lose the benefit of this judgment and they will also be foreclosed from challenging the measures/proceedings taken by the Bank under the SARFAESI Act and impugned in this writ petition before any other alternative Forum or WPC 8677/19 7 Court.
The writ petition is ordered accordingly.
Sd/-
DEVAN RAMACHANDRAN
RR JUDGE
WPC 8677/19
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APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE LETTER NO.695/16-
IND/DL DATED 19.3.2016 ISSUED BY THE IST RESPONDENT BANK TO THE PETITIONERS.
EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE BEARING NO.HO/R.CELL/SARFAESI/7816/ VTKCONRD/CLD.20446/2018-19 DATED 5.6.2018 ISSUED UNDER SECTION 13(2) OF SARFAESI ACT.
EXHIBIT P3 TRUE COPY OF THE PAY-IN-SLIP DATED 19.11.2018 OF THE IST RESPONDENT BANK.
EXHIBIT P4 TRUE COPY OF THE NOTICE BEARING NO.HO/R.CELL/SARFAESI/7816/VTKCONRD/C LD.20446/2018-19 DATED 22.2.2019. EXHIBIT P5 TRUE COPY OF THE PUBLICATION MADE BY THE IST RESPONDENT BANK IN MATHRUBHUMI DAILY DATED 28.2.2019. EXHIBIT P6 TRUE COPY OF THE REPRESENTATION DATED 5.3.2019 SUBMITTED BY THE PETITIONERS TO THE 2ND RESPONDENT.
EXHIBIT P7 TRUE COPY OF THE TRACK CONSIGNMENT ISSUED BY THE DEPARTMENT OF POSTS EVIDENCING RECEIPT OF EXHIBIT P6 REPRESENTATION.