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
W.P.(C) NO.14121 OF 2022
PETITIONER:
SHAFEER.B.A.,
AGED 35 YEARS, S/O.BASHEER MOHAMMED KANNU,
RESIDING AT R.S. NO.142/2-18, 142/6,
KAITHAKONAM HOUSE,
KAITHAKONAM, KATTAKKADA P.O.,
VEERANKAVU, KATTAKADA TALUK,
THIRUVANANTHAPURAM DISTRICT, PIN-695 572.
BY ADVS.
J.R.PREM NAVAZ
SUMEEN S.
O.MOHAMED BASIL KOYA THANGAL
RESPONDENTS:
1 ICICI BANK LTD.,
REGIONAL OFFICE AT ICICI TOWERS,
MG ROAD, NEAR GPO,
THIRUVANANTHAPURAM DISTRICT, PIN-695 001
REPRESENTED BY ITS MANAGER.
2 AUTHORIZED OFFICER UNDER SARFAESI ACT,
ICICI BANK LTD., REGIONAL OFFICE AT ICICI TOWERS,
MG ROAD, NEAR GPO,
THIRUVANANTHAPURAM DISTRICT, PIN-695 001.
ADV. PRADEESH CHACKO, STANDING COUNSEL, ICICI
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
-2-
W.P.(C) NO.14121 OF 2022
JUDGMENT
The petitioner had availed a credit facility from the 1 st respondent bank for the purchase of a passenger vehicle. Due to the Covid 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 outstanding amounts and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding amount as on today is Rs.4,17,778/-. The learned Counsel also objects to the grant of any instalment facility to the petitioner.
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 instalment facility to the petitioner to wipe off the liability due to the respondent bank.
5. In the said circumstances this writ petition is disposed of permitting the petitioner to clear off the liability due to the respondent bank in 6 equal monthly instalments starting from -3- W.P.(C) NO.14121 OF 2022 15.05.2022. 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 committed in paying the instalments at any time, the petitioner will lose the benefit of this order and the respondent bank will be at liberty to proceed against the petitioner on the basis of the recovery proceedings already initiated.
The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P.
JUDGE bpr -4- W.P.(C) NO.14121 OF 2022 APPENDIX PETITIONER'S EXHIBITS EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED 28.12.2021 UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED TO THE PETITIONER.