W.P.C.No.16108/2022 1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
TUESDAY, THE 17TH DAY OF MAY 2022 / 27TH VAISAKHA, 1944
WP(C) NO. 16108 OF 2022
PETITIONER:
FILO JOHN
AGED 60 YEARS
KALANGARA HOUSE, PALLIPORT P.O, ERNAKULAM - 683515.
BY ADV S.MUMTAZ
RESPONDENT:
THE SOUTH INDIAN BANK LTD.
REGIONAL OFFICE, TMJ COMPLEX, 2ND FLOOR, M.C. ROAD,
RAMANCHIRA, MUTHOOR P.O, THIRUVALLA - 689 107,
REPRESENTED BY THE AUTHORIZED OFFICER.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
17.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.C.No.16108/2022 2
JUDGMENT
Petitioner as borrower from the respondent-Bank, has committed default in repayment. Consequently, proceedings have been initiated by the Bank for recovery of the amounts due. During the course of the hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in instalments.
2. It was submitted on behalf of the respondent-Bank that the petitioner committed default in repayment and the outstanding amount is Rs.4,19,85,831.57 (Rupees four crores nineteen lakhs eighty five thousand eight hundred and thirty one and fifty seven paise). 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 outstanding amount in limited instalments.
3. I have heard Adv.Mumtaz Shumsuddin, learned counsel for the petitioner as well as Adv.Sunil Shanker, the learned Standing Counsel for the respondent.
4. 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 W.P.C.No.16108/2022 3 an opportunity to repay the outstanding amount in '10' instalments.
Accordingly, there will be a direction to the respondent-Bank to accept repayment of the entire outstanding amount of Rs.4,19,85,831.57 (Rupees four crores nineteen lakhs eighty five thousand eight hundred and thirty one and fifty seven paise) along with bank charges from the petitioner on the following conditions:
(i). The outstanding amount of Rs.4,19,85,831.57 shall be repaid in '10' equated monthly instalments.
(ii). The first instalment shall be paid on or before 01.06.2022.
(iii). In the event of default of any one instalment, the respondent-Bank shall be entitled to proceed in accordance with law.
(iv) 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/-
ZIYAD RAHMAN A.A.
JUDGE DG/17.5.22 W.P.C.No.16108/2022 4 APPENDIX OF WP(C) 16108/2022 PETITIONER EXHIBITS:
Exhibit P1 TRUE COPY OF THE NOTICE OF POSSESSION ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 02.09.2022.
Exhibit P2 TRUE COPY OF THE NOTICE DATED 30.04.2022 ISSUED BY THE RESPONDENT TO THE RESPONDENT TO THE PETITIONER.
Exhibit P3 REQUEST LETTER DATED 12.05.2022 GIVEN BY THE PETITIONER TO THE RESPONDENT.