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. 14874 OF 2022
PETITIONER:
VISAL E.VASUDEV.,
AGED 36 YEARS
S/O. VASUDEVAN E.K.,
ERAVIMANGALATH HOUSE,
ERAVIMANGALAM P.O., NADATHARA,
KOZHUKKULLI, THRISSUR 680 751.
BY ADV E.V.MOLY
RESPONDENT:
THE SOUTH INDIAN BANK
REGIONAL OFFICE THRISSUR -SIB PLATINUM JUBILEE
BUILDING IST FLOOR, AYYNTHOLE, THRISSUR 680 003,
REP. BY ITS AUTHORIZED OFFICER.
BY SRI.SUNIL SHANKAR, 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.14874 of 2022
2
MOHAMMED NIAS. C.P.,J
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WP(C) No. 14874 of 2022
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Dated this the 29th day of April, 2022
JUDGMENT
The petitioner had availed a loan of Rs.11 lakh from the respondent bank in the year 2018 by creating mortgage of immovable property having an extent of 1.84 Ares of land and building situated in Old Survey No.420/4, Re.Survey No.187/9 in Nadathara Village , Thrissur District . Due to the difficulties caused, 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 and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding overdue as on today is Rs.1,20,837/-.
4. Taking into account the averments in the writ petition and after hearing the learned counsel on either side, I WP(C)No.14874 of 2022 3 deem it appropriate to grant 6 equal monthly instalment facility 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 amounts due to the respondent bank in 6 equal monthly instalments starting from 25.05.2022. 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 dlK 29.4.2022 WP(C)No.14874 of 2022 4 APPENDIX OF WP(C) 14874/2022 PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 24.01.2022 RECEIVED BY THE PETITIONER.
Exhibit P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED 04.04.2022 RECEIVED BY THE PETITIONER.