ABDUL HAMEED VALIYAKATHE Vs. MANAGER, ICICI BANK

JUDGEMENT

(1.) Instant writ appeal is directed against the judgment in W.P.(C)No.3450 of 2020 dated 11.2.2020, by which a learned single Judge, after taking note of the submission of the Bank that the controversy has already been settled in the Lok Adalat wherein the appellant had agreed to deposit a sum of Rs.36 lakhs as the 1st instalment by March 2020 towards discharging dues to the tune of Rs.90 lakhs to the Bank, and that the above said fact had been suppressed in the writ petition, dismissed the same with cost of Rs.10,000/-. Being aggrieved, instant writ appeal is filed, inter alia, on the following grounds:

(2.) Material on record discloses that the appellant has availed a housing loan of Rs.1,02,00,509/- from the respondent Bank by mortgaging his property, measuring 69.5 cents of land, in July 2014. The period of loan was for ten years. However, the appellant defaulted in making payment from March, 2018. Hence the Bank initiated action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act , 2002 and filed M.C.No.116 of 2019 before the Chief Judicial Magistrate Court, Manjeri to take physical possession of the mortgaged property.

(3.) The said proceedings was challenged by the appellant in W.P. (C)No.3450 of 2020 and he sought for the following reliefs: