Rahmathulla vs Trivandrum Urban Co-Operative Bank - Ltd 1959,

Type Court Judgment Court Kerala Decided Jan 22, 2021

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Citation: sooperkanoon.com/1596545
Court: Kerala High Court
Judge: Honourable Mr. Justice a.M.Badar
Decided On: Jan 22, 2021
Case Number: WP(C)/1549/2021

Parties & Advocates

Appellant / Petitioner

Rahmathulla

Respondent

Trivandrum Urban Co-Operative Bank - Ltd 1959,

Excerpt

.....year 2031. with this, the learned counsel for the respondent bank submits that the auction is scheduled to be held on 15/02/2021 as the respondent has taken action according to the provisions of the sarfaesi act. she however submits that if the petitioner clears the overdue amount of loan in ten equated monthly installments apart from regular payment of emi, the coercive action for recover shall not be taken by the bank. considering the facts and circumstances of the instant case and keeping in mind, the fact that the petitioner has lost his job in gulf country resulting in financial crunch, the petition is disposed of with the following directions:a. the petitioner to clear entire overdue amount of housing loan in ten equated monthly installments starting from 01.02.2021 apart from regular payment of emi. b. on the petitioner following these directions, the respondents shall keep the coercive action in abeyance. after payment of 1st installment, the petitioner be permitted to remove his belongings from the secured asset. c. needless to mention that a single default in complying with these directions shall permit the respondent to continue with the action under the sarfaesi act. d. considering the facts of the case and the relief granted, no further extension of time either for payment of monthly installment or for payment of emi shall be granted in future.e. on clearance of entire overdue amount, the respondent bank to restore the physical possession of the secured asset to the petitioner. sd/- a.m.badar nsd //true copy// judge pa to judge appendix petitioner's/s exhibits: exhibit p1 true copy of the letter dated 25.10.2018 along with transilation. exhibit p2 true copy of the possession notice dated 11.3.2019. exhibit p3 true copy of the auction notice dated 4.1.2021.

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE A.M.BADAR FRIDAY, THE 22ND DAY OF JANUARY 2021 / 2ND MAGHA, 1942 PETITIONER: RAHMATHULLA AGED 46 YEARS S/O. SALIAH MOULAVI, TC X/1640, DHARUSSALAM, VATTIYOORKAVU P.O, THIRUVANANTHAPURAM. BY ADVS. SRI.R.SUNIL KUMAR SMT.A.SALINI LAL RESPONDENTS: 1 TRIVANDRUM URBAN CO-OPERATIVE BANK - LTD 1959, REPRESENTED BY ITS MANAGER, MANACADU BRANCH, MANACADU P.O,THIRUVANANTHAPURAM. 2 THE AUTHORIZED OFFICER, TRIVANDRUM URBAN CO-OPERATIVE BANK-LTD 1959, HEAD OFFICE, MG ROAD, TRIVANDRUM-695 001 SC- SMT. NISHA GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

Dated this the 22nd day of January 2021 Heard both sides.

2. The petitioner along with his wife has taken a housing loan

amounting to Rs.15,00,000/- in the year 2016 from the 1 st respondent Bank. Now, the petitioner wants to repay the overdue amount of loan in installments apart from payment of regular EMI.

3. The learned counsel for the respondent argued that total overdue amount of loan as on 21.01.2021 is Rs.10,56,967/-, whereas total amount of outstanding loan is Rs.20,65,320/-. The

term of the loan is upto the year 2031. With this, the learned counsel for the respondent Bank submits that the auction is scheduled to be held on 15/02/2021 as the respondent has taken action according to the provisions of the SARFAESI Act. She however submits that if the petitioner clears the overdue amount of loan in ten equated monthly installments apart from regular payment of EMI, the coercive action for recover shall not be taken by the Bank. Considering the facts and circumstances of the instant case and keeping in mind, the fact that the petitioner has lost his job in Gulf country resulting in financial crunch, the petition is disposed of with the following directions:

a. The petitioner to clear entire overdue amount of housing loan in ten equated monthly installments starting from 01.02.2021 apart from regular payment of EMI. b. On the petitioner following these directions, the respondents shall keep the coercive action in abeyance. After payment of 1st installment, the petitioner be permitted to remove his belongings from the secured asset. c. Needless to mention that a single default in complying with these directions shall permit the respondent to continue with the action under the SARFAESI Act. d. Considering the facts of the case and the relief granted, no further extension of time either for payment of monthly installment or for payment of EMI shall be granted in future.

e. On clearance of entire overdue amount, the respondent Bank to restore the physical possession of the secured asset to the petitioner. Sd/- A.M.BADAR Nsd //true copy// JUDGE PA to Judge APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 TRUE COPY OF THE LETTER DATED 25.10.2018 ALONG WITH TRANSILATION. EXHIBIT P2 TRUE COPY OF THE POSSESSION NOTICE DATED 11.3.2019. EXHIBIT P3 TRUE COPY OF THE AUCTION NOTICE DATED 4.1.2021.

Same Court & Year Kerala · 2021 Same Parties Rahmathulla vs Trivandrum Urban Co-Operative Bank - Ltd 1959, Same Judge Honourable Mr. Justice a.M.Badar