IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE C.S.DIAS TUESDAY, THE 4^TH DAY OF JULY 2023 / 13TH ASHADHA, 1945 WP(C) NO. 21658 OF 2023 PETITIONER ABDUSSATHAR K V AGED 39 YEARS, S/O MUHAMMED K.V.

MELAYATH VEETTIL,THAVANOOR P.O MUTHUVALLUR, MALAPPURAM., PIN - 673641 BY ADVS.

BONNY BENNY BEJOY JOSEPH P.J.

BALU TOM GOVIND G. NAIR RESPONDENTS

1 SOUTH INDIAN BANK, REPRESENTED BY ITS AUTHORISED OFFICER, NAMELY CHIEF MANAGER REGIONAL OFFICE KOZHIKODE, FIRST FLOOR, HAPPY TOWERS, MANANCHIRA P.O., PIN - 673001

2 THE BRANCH MANAGER, SOUTH INDIAN BANK KONDOTTY BRANCH, DO.NO.KP/III/1093-B CITY CENTRE, BYPASS RD, KONDOTTY, KERALA, PIN - 673638 BY ADV SUNIL SHANKER OTHER PRESENT:

sri P.A.AUGUSTINE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.07.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

C.S.DIAS, J.

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W.P.(C).No.21658 of 2023 ---------------------------------

Dated : 4^th July, 2023 JUDGMENT This writ petition is filed to direct the respondents to permit the petitioner to regularize the loan account that was availed by him from the 2^nd respondent Bank.

2. The petitioner’s case is that, he had availed financial assistance from the 2^nd respondent in the year 2017 by creating an eqitable mortgage by deposit of title deeds. Due to COVID-19 pandemic and domestic problems, the petitioner cannot pay the instalments on time. The Bank abruptly recalled the loan and classified it as a Non Performing Asset. The Bank then proceeded against the secured asset under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (in short, ‘Act’). The petitioner is now prepared to pay off the entire outstanding amount under instalments. Hence come up in the writ petition.

3. Heard Sri.Bonny Benny, the learned counsel appearing for the petitioner and Sri.P.A.Augustine, the learned counsel appearing for the respondents.

4. Sri.P.A.Augustine, on instructions, submitted, that the Bank had instituted O.S.No.26/2020 before the Court of Subordinate Judge. The Suit was decreed in favour of the Bank on 7.7.2022. Subsequently, the Bank filed an Execution Petition and has taken possession of the execution scheduled property. Therefore, now there is no question of regularising the loan account. If at all the petitioner desires to pay the entire amount, he may approach the Bank.

5. The Hon’ble Supreme Court in South Indian Bank Ltd vs. Naveen Mathew Philip (2023 LiveLaw (SC) 320), after adverting to a myriad of earlier judicial pronouncements rendered under the Act, has categorically declared that High Courts shall not, unless in extraordinary circumstances, interfere with proceedings initiated under the Act, in writ proceedings filed under Article 226 of the Constitution of India.

6. Having considered the pleadings and materials on record, and appreciating the rival submissions, I do not find any extraordinary circumstances to entertain the writ petition under Article 226 of the Constitution of India. The petitioner may approach the Bank and submit a concrete proposal, if he is so advised.

The writ petition is dismissed with the above observations.

Sd/-

C.S.DIAS, Judge Mrcs/4.7.2023 APPENDIX PETITIONER EXHIBIT Exhibit P1 THE PHOTOSTAT COPY OF THE POSSESSION NOTICE DATED 22.5.2023 UNDER SECTION 8 (1) OF THE SARFAESI ACT ISSUED BY THE 1ST RESPONDENT