Adarsh R.Pillai vs The Authorised Officer

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
       FRIDAY, THE 6TH DAY OF MAY 2022 / 16TH VAISAKHA, 1944
                        WP(C) NO. 15515 OF 2022
PETITIONER

             ADARSH R PILLAI
             AGED 27 YEARS
             S/O RADHAKRISHNA PILLAI D,
             ANIZHAM, VELAMANNOOR P.O
             PARIPPALLY, KOLLAM - 691574
             BY ADV M.R.SASITH


RESPONDENT

             AUTHORISED OFFICER
             THE FEDERAL BANK LTD
             LCRD, THIRUVANANTHAPURAM DIVISION,
             4TH FLOOR, FEDERAL TOWER,
             STATUTE, THIRUVANANTHAPURAM , PIN 695001

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 15515 OF 2022
                                  2

                             JUDGMENT

Petitioner has approached this Court challenging recovery proceedings initiated against the petitioner at the instance of the respondent Bank.

2. When the matter is taken up for consideration today, the learned Standing Counsel appearing for the respondent Bank submits that as on date the overdue amount is Rs.5,72,469/- (Rupees five lakh seventy two thousand four hundred and sixty nine only). It is very fairly submitted that the petitioner can be given an opportunity to clear off the overdue amount in installments.

3. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank, this writ petition is disposed of directing that if the petitioner pays the overdue amount together with interest accrued thereon in eight equal monthly installments, the first of which shall be payable on or before 01.06.2022, the recovery proceedings initiated against the petitioner WP(C) NO. 15515 OF 2022 3 shall stand deferred. The subsequent installments shall be paid on or before the first day of succeeding months. The petitioner shall also pay the regular EMIs on the loan. It is made clear that the in event of default, it is open to the respondent Bank to proceed against the petitioner.

The writ petition stands disposed of as above.

Sd/-

GOPINATH P.

JUDGE nkr WP(C) NO. 15515 OF 2022 4 APPENDIX PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT DATED 07.04.2022