Kerala High Court
Lajeesh K.B vs The Authorized Officer on 30 April, 2024
Author: Kauser Edappagath
Bench: Kauser Edappagath
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
TUESDAY, THE 30TH DAY OF APRIL 2024 / 10TH VAISAKHA, 1946
WP(C) NO. 16546 OF 2024
PETITIONER:
LAJEESH K.B,
AGED 44 YEARS
S/O. LATE K.BALAN, RESIDING AT 8/253,
KALIARAMBIL HOUSE, MALLYA'S COMPOUND,
NULLIPADY, KASARAGOD P.O.,
KASARAGOD DISTRICT, PIN - 671121
BY ADVS. T.MADHU
C.R.SARADAMANI
RENJISH S. MENON
VRINDA T.S.
AISWARYA JAYAPAL
RESPONDENTS:
1 THE AUTHORIZED OFFICER,
INDIAN BANK, ZONAL OFFICE,
KOZHIKODE, PIN - 673011
2 THE MANAGER,
INDIAN BANK, KASARAGOD BRANCH,
PIN - 671121
OTHER PRESENT:
SC. SRI. BINOY VASUDEVAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.16546/2024
-:2:-
Dated this the 30th day of April, 2024
JUDGMENT
Petitioner availed three loans from the respondent - Bank. The petitioner defaulted the repayment of the loan amount. Hence, recovery proceedings have been initiated against him.
2. The learned counsel for the petitioner submits that the petitioner is prepared to clear off the overdue amount in 20 monthly instalments.
3. The learned counsel for the respondents submits that the total overdue amount would come to Rs.7,50,000/-.
Having heard both sides, this writ petition is disposed of granting an opportunity to the petitioner to pay a sum of Rs.2,00,000/-(Rupees two lakh only) within two weeks from today and clear off the balance overdue amount due in 10 equal monthly instalments W.P.(C)No.16546/2024 -:3:- commencing from 01.06.2024. Subsequent instalments shall be paid by the petitioner on the 5th day of every month. Along with the aforesaid payment, regular monthly instalment shall also be paid. In case of default on the part of the petitioner in payment of the initial amount or any instalments thereafter, the above-said facility shall stand cancelled and the Bank will be at liberty to proceed with the recovery proceedings. Subject to the above direction, the recovery proceedings against the petitioner shall be kept in abeyance.
Sd/-
DR. KAUSER EDAPPAGATH
JUDGE
DST/02.05.24 //True copy//
P.A.To Judge
W.P.(C)No.16546/2024
-:4:-
APPENDIX
PETITIONER EXHIBITS
EXHIBIT-P1 THE TRUE COPY OF THE NOTICE DATED 3/12/2022
ISSUED BY THE FIRST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 EXHIBIT-P2 THE TRUE COPY OF THE NOTICE DATED 22/4/2024 ISSUED BY THE LEARNED ADVOCATE COMMISSIONER APPOINTED BY THE LEARNED CHIEF JUDICIAL MAGISTRATE'S COURT, KASARAGOD IN CMP NO.1230/2024 RESPONDENTS EXHIBITS : NIL