IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 4TH DAY OF MAY 2022 / 14TH VAISAKHA, 1944
WP(C) NO. 14324 OF 2022
PETITIONER:
ATHIRA INDUSTRIES
VALIYAKUNNU, KEEZHUVILAM (PO), ATTINGAL,
THIRUVANANTHAPURAM - 695 104, REPRESENTED BY PROPRIETOR
MR.MAHESAN ASARI, AGED 57 YEARS, S/O.KUTTAPPAN ASARI,
THIRUVATHIRA, VALIYAKUNNU, KEEZHUVILAM (PO), ATTINGAL,
THIRUVANANTHAPURAM - 695 104.
BY ADV M.DINESH
RESPONDENT:
AUTHORIZED OFFICER
UNION BANK OF INDIA, AVITTOM COMPLEX, MAMOM,
KEEZHUVILAM (PO), ATTINGAL,
THIRUVANANTHAPURAM - 695 014.
SRI. A.S.P. KURUP (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
04.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.14324/2022 2
JUDGMENT
The petitioner, M/s. Athira Industries, faces recovery proceedings in respect of a loan availed by it from the Attingal Branch of Union Bank of India. The total outstanding amount is stated to be Rs.14,80,000/-. The learned counsel for the petitioner seeks for a permission to regualrise the loan account. The learned Standing Counsel for the Bank points out that since the facility is an overdraft facility, there is no provision enabling the petitioner to seek regularisation of loan account. However, he very fairly submits that the petitioner can be given an opportunity to clear off the liability by paying the overdue amount together with any interest accrued in ten equal monthly instalments. The learned counsel for the petitioner seeks some more indulgence in the matter of instalments.
3. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the Bank, I am of the view that the petitioner can be granted an opportunity to clear off the outstanding liability in the overdraft account in twelve equal monthly instalments first of which shall be paid on or before 25.5.2022. The succeeding instalments shall be paid without default on or before 25th of the succeeding months.
The writ petition will stand disposed of with the above directions.
sd/-
GOPINATH P.
JUDGE acd W.P.(C)No.14324/2022 3 APPENDIX OF WP(C) 14324/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNT ISSUED FROM UNION BANK OF INDIA, ATTINGAL BRANCH FROM 01/4/2019 TO 1/4/2022.
Exhibit P2 TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT BY THE RESPONDENT TO THE PETITIONER DATED 12/4/2021.
Exhibit P3 TRUE COPY OF THE NOTICE FOR TAKING POSSESSION ISSUED BY THE RESPONDENT DATED 17/11/2021.
Exhibit P4 TRUE COPY OF THE NOTICE DATED NIL ISSUED BY ADVOCATE COMMISSIONER IN M.C.NO.44/2022 ON THE FILE OF HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM.