Balakrishnan K.A. v. The Federal Bank Limited and Others

## **IN THE HIGH COURT OF KERALA AT ERNAKULAM** ## **PRESENT** ## **THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN** **FRIDAY ,THE 25TH DAY OF JANUARY 2019 / 5TH MAGHA, 1940** # **WP(C).No. 1989 of 2019** ## **PETITIONER/S:** **BALAKRISHNAN K.A., AGED 56 YEARS S/O AYYAPPAN, KUZHUMPALLIL HOUSE, PATHAMPUZHA P.O., POONJAR, KOTTAYAM DISTRICT-686600.** **BY ADV. SRI.AJEESH K.SASI** ## **RESPONDENT/S:** |**1**|**THE FEDERAL BANK LIMITED,**| |---|---| ||**POONJAR THEKKEKKARA BRANCH, KOTTAYAM DISTRICT,**| ||**REPRESENTED BY ITS MANAGER-686582.**| |**2**|**THE MANAGER,**| ||**THE FEDERAL BANK LIMITED, KOTTAYAM DISTRICT,**| ||**POONJAR, THEKKEKKARA BRANCH-686582.**| |**3**|**THE AUTHORISED OFFICER,**| ||**THE FEDERAL BANK LIMITED, LCRD KOTTAYAM DIVISION,**| ||**T.B. ROAD, KOTTAYAM-686001.**| ||**BY ADVS.**| ||**SRI.MOHAN JACOB GEORGE**| ||**SMT.NIGI GEORGE**| ||**SMT.P.V.PARVATHY (P-41)**| ||**SMT.REENA THOMAS**| **THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.01.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:** WPC 1989/19 2 ## **JUDGMENT** Through this writ petition, the petitioner calls 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 petitioner and the learned counsel for the respondent Bank. 3. As I proceed to consider the reliefs prayed for by the petitioner 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 of India v.** WPC 1989/19 3 **Satyawati Tondon** ((2010) 8 SCC 110) and followed recently in **Authorised Officer, SBT v. Mathew** (ILR 2018 (1) Ker. 479). I, therefore, cannot and do not propose to consider any of the legal contentions raised by the petitioner on its merits. 4. However, obviously being aware of this, the learned counsel appearing for the petitioner has prayed that notwithstanding the limitations of jurisdiction as aforementioned, the petitioner may be granted some leniency or latitude in order to enable him 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 petitioner 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 legal proceedings against such recovery. The WPC 1989/19 4 learned counsel has fairly submitted that the Bank is concerned about recovery at the earliest and that if the petitioner pays 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 petitioner, I am inclined to dispose of this writ petition allowing him 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 petitioner can be allowed to pay off the overdue amount of Rs.5,69,659/- as on 23.01.2019 in not more than ten instalments commencing from 25.02.2019 and that the account can thus be regularised by the Bank. 8. The learned counsel for the petitioner says that the petitioner is agreeable to the WPC 1989/19 5 above offer made by the Bank and therefore that the writ petition may be ordered granting permission to the petitioner to pay off the amount in the manner as afore. 9. In such circumstances, I direct the petitioner to pay off the aforementioned overdue amount of **Rs.5,69,659/-** as on **23.01.2019** , along with applicable charges and interest, in **ten** equal monthly instalments commencing from **25.02.2019.** He shall also, in addition to this, pay the regular EMIs without fail. If such payment is made by the petitioner, his loan account would stand regularised and he would then be at liberty to service the account as per the terms of the loan sanctioned. It goes without saying that if 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 petitioner by continuing with WPC 1989/19 6 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 petitioner will have to comply with the same meticulously. I caution the petitioner that no further requests for extension or modification of this judgment will be permitted and that if the petitioner fails to comply with the directions herein, he will lose the benefit of this judgment and he 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 Court. After I dictated this judgment Sri. Mohan Jacob George, the learned Standing Counsel for the Bank, submits that they have already taken physical possession of a part of the secured asset and that the same will be returned to the WPC 1989/19 7 petitioner only after he regularises the loan in terms of this judgment. I record this and I direct the Bank to release the physical possession of the secured asset to the petitioner on making payment as ordered herein and regularising the loan, without any delay thereafter. The writ petition is ordered accordingly. **Sd/-** ## **DEVAN RAMACHANDRAN** RR **JUDGE** WPC 1989/19 8 ## APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 A TRUE COPY OF THE NOTICE AFFIXED ON THE RESIDENTIAL BUILDING OF THE PETITIONER INTIMATING TAKING OVER THE POSSESSION OF THE PROPERTY UNDER SECTION 13(4) OF THE SARFAESI ACT