Safiya K.E vs Authorised Officer

Type Court Judgment Court Kerala Decided Oct 28, 2022

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Citation: sooperkanoon.com/1449261
Court: Kerala High Court
Judge: Honourable Mr. Justice Gopinath P.
Decided On: Oct 28, 2022
Case Number: WP(C)/4185/2022

Parties & Advocates

Appellant / Petitioner

Safiya K.E

Respondent

Authorised Officer

Excerpt

.....secured asset was adjourned to 25.03.2022. it is submitted that even on 25.03.2022, since there were no bidders in respect of the property, the bank itself purchased the property and the property is now the non banking asset of the respondent bank. it is the submitted that the amount due form the petitioner as on date is rs.9,60,300/- (rupees nine lakhs sixty thousand and three hundred only) and if the petitioner approaches the bank with a reasonable proposal for settling the liability in instalments, the same can be considered by the bank. wp(c) no. 4185 of 2022 33. having regard to the facts and circumstances of thecase and taking note of the submissions made by both sides, this writ petition will stand disposed of, directing that if the petitioner approaches the bank with a proposal for settling the entire liability in instalments, within ten days from today, the same shall be considered by the competent authority of the respondent bank and the decision taken thereon shall be communicated to the petitioner. it is also made clear that if the petitioner complies the terms on which the petitioner is allowed to clear the liability in instalments, the property of the petitioner, which is now a non banking asset of the respondent bank, shall be restored to the petitioner. it is made clear that the benefit of this judgment shall be available to the petitioner only if the petitioner makes a proposal within the time granted above. the writ petition is disposed of as above. sd/- gopinath p. judge ajt wp(c) no. 4185 of 2022 4 appendix of wp(c) 4185/2022 petitioner exhibits exhibit p1 true copy of the sale notice dated 17.01.2022

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF OCTOBER 2022 / 6TH KARTHIKA, 1944 WP(C) NO. 4185 OF 2022 PETITIONER/S: SAFIYA K.E, AGED 68 YEARS ARVADIKKARAN HOUSE KOKKANIKKAD KATTUNGACHIRA. IRINJALAKUDA PO THRISSUR, PIN - 680125 BY ADVS. SAIJO HASSAN P.K.ANTONY BENOJ C AUGUSTIN RAFEEK. V.K. P.PARVATHY AATHIRA SUNNY NAZRIN HALLAJ ABHIRAMI DINESH ROSE MATHEW RENJINI M. RENJITH N.KRISHNA OZHAKKANAT K.N.MUHAMMED THANVEER LAKSHMINARAYAN.R U.M.HASSAN RESPONDENT/S: AUTHORISED OFFICER IRINJALAKUDA TOWN CO-OPERATIVE BANK LTD HEAD OFFICE IRINJALAKUDA THRISSUR, PIN - 680121 BY ADV DEVAPRASANTH.P.J. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.10.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 4185 OF 2022 2

JUDGMENT

Petitioner has approached this Court, challenging the action initiated by the respondent bank against him under the provisions of the SARFAESI Act to recover amounts due under a loan availed by the petitioner.

2. When this matter is taken up for consideration

today, learned counsel appearing for the respondent bank submitted that the challenge in the present writ petition is in connection with the sale of the secured asset proposed to be

held on 28.02.2022. It is submitted that the sale, which was

proposed on 28.02.2022, did not take place and thereafter, the sale of secured asset was adjourned to 25.03.2022. It is submitted that even on 25.03.2022, since there were no bidders in respect of the property, the bank itself purchased the property and the property is now the Non Banking Asset of the respondent bank. It is the submitted that the amount due form the petitioner as on date is Rs.9,60,300/- (Rupees Nine lakhs sixty thousand and three hundred only) and if the petitioner approaches the bank with a reasonable proposal for settling the liability in instalments, the same can be considered by the bank. WP(C) NO. 4185 OF 2022 3

3. Having regard to the facts and circumstances of the

case and taking note of the submissions made by both sides, this writ petition will stand disposed of, directing that if the petitioner approaches the bank with a proposal for settling the entire liability in instalments, within ten days from today, the same shall be considered by the competent authority of the respondent bank and the decision taken thereon shall be communicated to the petitioner. It is also made clear that if the petitioner complies the terms on which the petitioner is allowed to clear the liability in instalments, the property of the petitioner, which is now a Non Banking Asset of the respondent bank, shall be restored to the petitioner. It is made clear that the benefit of this judgment shall be available to the petitioner only if the petitioner makes a proposal within the time granted above. The writ petition is disposed of as above. sd/- GOPINATH P. JUDGE ajt WP(C) NO. 4185 OF 2022 4 APPENDIX OF WP(C) 4185/2022 PETITIONER EXHIBITS Exhibit p1 TRUE COPY OF THE SALE NOTICE DATED 17.01.2022

Same Court & Year Kerala · 2022 Same Parties Safiya K.E vs Authorised Officer Same Judge Honourable Mr. Justice Gopinath P.