Biju Thomas vs The Authorised Officer

Kerala High Court

Biju Thomas vs The Authorised Officer on 23 June, 2022

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
        THURSDAY, THE 23RD DAY OF JUNE 2022 / 2ND ASHADHA, 1944
                       WP(C) NO. 19009 OF 2022
PETITIONER:

            BIJU THOMAS,
            AGED 47 YEARS,
            S/O. THOMAS, PALAPALLIL HOUSE, VADAKKAL,
            ALAPPUZHA, PIN-688 003.

            BY ADVS.
            B.PRAMOD
            BIJU VIGNESWAR
            ASWATHI SURESH



RESPONDENTS:

    1       THE AUTHORISED OFFICER
            CANARA BANK, ALAPPUZHA MULLAKKAL BRANCH,
            VSV BUILDING, IRON BRIDGE P.O, ALAPPUZHA,
            PIN - 680 011.

    2       CANARA BANK,
            ALAPPUZHA MULLAKKAL BRANCH, VSV BUILDING,
            IRON BRIDGE P.O, ALAPPUZHA, PIN - 680 011.

            SRI. PAULY MATHEW MURICKEN (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 19009 OF 2022

                                  2




                          JUDGMENT

The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the bank for recovery of the amounts due from the petitioner.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount is Rs.58,090/-(Rupees fifty eight thousand and ninety only). It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as well as the learned counsel for the respondents. WP(C) NO. 19009 OF 2022 3

5. Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

6. Accordingly, there will be a direction to the respondent bank to accept repayment of the overdue amount of Rs.58,090/-(Rupees fifty eight thousand and ninety only) along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions: i. The overdue amount of Rs.58,090/-(Rupees fifty eight thousand and ninety only) along with any accrued interest and charges shall be repaid in 10 equated monthly instalments.

ii. The first instalment shall be paid on or before 15.07.2022 and the subsequent instalments shall be paid on the last working day of every succeeding month. iii. Petitioner shall continue to pay the regular EMI's along with the instalments directed above. iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in WP(C) NO. 19009 OF 2022 4 accordance with law.

v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.