Safiya vs Kasaragod Primary Co Operative Agricultural And Rural Development Bank Ltd

Sathish Ninan, J.

Repayment of the credit facilities availed by the petitioner from the respondent Bank was defaulted. The Bank initiated recovery steps by proceeding against the immovable property of the petitioner.

Pursuant to Ext.P10 sale notice, sale was held on 29/04/2022. The Bank is the auction purchaser. The sale is yet to be confirmed.

The petitioner’s husband is suffering from various ailments including chronic kidney disease. Her son is a mental patient. He has developed an eye disease and is partially blind. The treatment records of the husband and son are produced as Exts.P5 and P6. Petitioner has two daughters who are unmarried. The family is in grave financial constraints and she seeks for an opportunity for regularisation of the facilities.

Heard the learned counsel for the petitioner and the learned standing counsel for the Bank.

Further term is available for all the four loans in question. Considering the peculiar situation in which the family is placed, the financial constraints pointed out by the petitioner, the overdue amounts, the fact that further term is available, that the Bank itself is the auction purchaser and that the auction is yet to be confirmed, I am of the opinion that an opportunity could be granted to the petitioner to have the loans accounts in question regularized.

Accordingly, the writ petition is disposed of with the following directions:-

(a) The loan accounts in question will stand regularized on the petitioner paying the entire over due amounts to the Bank, inclusive of interest and costs, in eight equal monthly instalments on or before 15/06/2022.

(b) The subsequent instalments shall be payable on or before the 15th day of the succeeding months.

(c) This shall be in addition to the regular EMIs payable.

(d) In case of default in payment of a single instalment as above, the petitioner will lose the benefit granted under this judgment.

(e) On payment of the first instalment as above, the sale held on 29/04/2022 will stand set aside. In the meanwhile, the sale held on 29.04.2022 shall not be confirmed.