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. 14784 OF 2022
PETITIONERS:
1 RESHMI RAGHAVAN
AGED 34 YEARS
PROP. M/S. DREAMWORLD ENTERPRISES, NO.34,
35/1793, MATHEWSONS SQUARE BUILDING, 1ST FLOOR,
NR. CHANGAMPUZHA PARK, EDAPPALLY,
ERNAKULAM-682024.
2 JABIN JALAL,
OLAKKODAN HOUSE, SOUTH KORATTY P.O.,
MANGALASSERY KARA, KIZHAKKUMMURI,
THRISSUR, KERALA-680308.
BY ADVS.
C.K.ANWAR
K.S.SUMESH
RESPONDENTS:
UNION BANK OF INDIA
PALARIVATTOM BRANCH,
PERINGATTU BUILDING,
PALARIVATTOM JN.,
PALARIVATTOM, KAKKANAD ROAD,
ERNAKULAM-682025.
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.14784/2022
2
MOHAMMED NIAS C.P., J
.......................................
W.P.(C) No.14784 of 2022
................................................
Dated this the 29th day of April, 2022
JUDGMENT
The petitioners have availed an overdraft facility from the respondent Bank for an amount of Rs.50 Lakhs 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 petitioners.
2. The limited prayer of the petitioners in this writ petition is to grant instalment facility to pay the outstanding amounts in instalments.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding amount as on 01.03.2022 is Rs.54,68,000/-.
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 '10' equal monthly instalments to the petitioners to wipe off the outstanding amounts due to the respondent bank.
WP(C) NO.14784/2022 3
5. In the said circumstances, this writ petition is disposed of, permitting the petitioners to clear off the liability of the respondent Bank in 10 equal monthly instalments. The first instalment shall be paid on or before 01.06.2022 and the remaining instalments shall be paid on or before the 1 st day of every succeeding month.
6. It is made clear that, if there are two defaults committed in paying the instalments at any time, the petitioners will lose the benefit of this judgment and the respondent bank will be at liberty to proceed against the petitioners on the basis of the recovery proceedings already initiated.
7. In order to enable the petitioners to repay the entire amounts, all coercive proceedings initiated against the petitioners shall be kept in abeyance. The writ petition is disposed of.
Sd/-
MOHAMMED NIAS C.P., JUDGE AMV/30/04/2022 WP(C) NO.14784/2022 4 APPENDIX OF WP(C) 14784/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SHOP LICENSE DATED 29.9.2021.
Exhibit P2 TRUE COPY OF THE ACCOUNT STATEMENT OF THE LOAN TRANSACTIONS 18.9.2018 TO 24.6.2021.
Exhibit P3 TRUE COPY OF THE NOTICE UNDER SECTION 13(2) DATED 30.6.2021.
Exhibit P4 TRUE COPY OF THE SALE NOTICE DATED 14.3.2022.
RESPONDENTS EXHIBITS : NIL TRUE COPY