Kerala High Court
Arch Antony vs Kerala Financial Corporation on 11 April, 2024
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
THURSDAY, THE 11TH DAY OF APRIL 2024 / 22ND CHAITHRA, 1946
WP(C) NO. 14036 OF 2024
PETITIONER:
ARCH ANTONY, AGED 49 YEARS,
S/O. ANTONY ABRAHAM, ARCH VIEW,
KALANJOOR POST, PATHANAMTHITTA,
PIN - 689694.
BY ADVS.
SABU S.KALLARAMOOLA
AJITHA V.K. NAIR
RESPONDENT:
KERALA FINANCIAL CORPORATION,
SARB-52, VELLAYAMBALAM,
THIRUVANANTHAPURAM,
REP.BY ITS BRANCH HEAD, PIN - 695033.
BY ADVS.
ADV. VENUGOPAL M.R.
DHANYA P.ASHOKAN (SR.)(K/001671/2000)
S. MUHAMMAD ALIKHAN(K/000644/2020)
ATHULYA V.R.(K/000850/2021)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 14036 OF 2024
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JUDGMENT
When this matter was called today, Smt.Dhanya P.Ashokan, learned Senior Counsel, instructed by Smt.Athulya V.R. appearing for the respondent - Kerala Financial Corporation, submitted that, even though the total outstanding in the loan account of the petitioner is as high as Rs.6.13 Crores, he can be allowed to regularize the same, if he pays the overdue amount of Rs.1.21 Crores, as on 05.04.2024, in not more than 12 equal monthly installments, provided he pays the same along with regular EMIs without default.
2. Sri.S.Sabu - learned counsel for the petitioner, accepted the afore suggestion.
Taking note of the afore submissions, I allow this writ petition and permit the petitioner to pay off the aforesaid overdue amount, along with all applicable charges and WP(C) NO. 14036 OF 2024 -3- interest, in 12 installments, commencing from 01.06.2024. These payments shall be made along with the regular EMIs, without any default in either of them.
Needless to say, if the overdue amount is paid by the petitioner as afore, his account will stand regularized; but should he default in payment of any two installments, as ordered by this Court, or any of the regular EMIs, then the benefit of this judgment will be lost to him; and necessary recovery action can be continued against him, without the Bank having to obtain any further orders from this Court.
Sd/-
DEVAN RAMACHANDRAN
akv JUDGE
WP(C) NO. 14036 OF 2024
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APPENDIX OF WP(C) 14036/2024
PETITIONER EXHIBITS
EXHIBIT-P1 TRUE COPY OF DEMAND NOTICE DATED 19-
03-2024 ISSUED BY RESPONDENT
EXHIBIT-P2 TRUE COPY OF REPLY DATED 30-03-2024 OF
THE PETITIONER