IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
WP(C) NO. 14284 OF 2022
PETITIONER:
J.ALEXANDER
AGED 55 YEARS
S/O. JOHN FELIX,
THARA 103, ISWARYA,
THAMPURANMUKKU, KUNNUZHI P.O,
THIRUVANANTHAPURAM 695 001
BY ADV NAVEEN RADHAKRISHNAN
RESPONDENTS:
1 THE AUTHORIZED OFFICER (UNDER SARFAESI ACT)
UNION BANK, THIRUVANANTHAPURAM BRANCH,
NEW JYOTHI TOWER, S.S KOVIL ROAD P.O,
THIRUVANANTHAPURAM 695 001
2 THE BRANCH MANAGER
UNION BANK, THIRUVANANTHAURAM BRANCH,
NEW JYOTHI TOWER, S.S KOVIL ROAD P.O,
THIRUVANANTHAPURAM 695 001
ADV.A.S.P.KURUP, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO.14284/2022
2
MOHAMMED NIAS C.P., J
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W.P.(C) No.14284 of 2022
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Dated this the 29th day of April, 2022
JUDGMENT
The petitioner has availed three different loans from the respondent bank and due to the difficulties caused by the pandemic, repayments were not made in time and the same led to proceedings for recovery against the petitioner.
2. The limited prayer of the petitioner in this writ petition is to grant instalment facility to pay the overdue amounts in instalments and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the overdue amount is Rs.15,00,000/-.
4. Taking into account the averments in the writ petition and after hearing the learned counsel on either side, I deem it appropriate to grant '8' equal monthly WP(C) NO.14284/2022 3 instalments to the petitioner to wipe off the overdue amounts due to the respondent bank.
5. In the said circumstances, this writ petition is disposed of, permitting the petitioner to clear off the overdue amount of Rs.15,00,000/- along with bank charges in '8' equal monthly instalments, commencing from 01.06.2022 and the remaining instalments shall be paid on or before the 1st day of every succeeding month. The petitioner will also be liable to pay the applicable EMI with the accrued interest, if any, continuously over and above the instalments to pay off the overdue amounts.
6. It is made clear that, if there are two defaults, at any time, the petitioner will lose the benefit of this judgment and the respondent bank will be at liberty to proceed against the petitioner on the basis of the recovery proceedings already initiated.
7. The petitioner will also have to comply with the other formalities of the respondent Bank for renewal of cash WP(C) NO.14284/2022 4 credit facility.
8. In order to enable the petitioner to repay the entire amounts, all coercive proceedings initiated against the petitioner shall be kept in abeyance. The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P., JUDGE AMV/30/04/2022 WP(C) NO.14284/2022 5 APPENDIX OF WP(C) 14284/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(2) ISSUED BY THE RESPONDENT BANK 04-01-2022 Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE ISSUED E-AUCTION MODE 4/01/2022 DATED 13-04-2022 Exhibit P3 TRUE COPY OF THE BANK STATEMENT ISSUED FROM THE BANK DATED 30-03-2022 RESPONDENTS EXHIBITS : NIL TRUE COPY