Sameer.P.M vs Icici Bank Ltd

Kerala High Court

Sameer.P.M vs Icici Bank Ltd on 23 May, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
      THURSDAY, THE 23RD DAY OF MAY 2024 / 2ND JYAISHTA, 1946
                      WP(C) NO. 18475 OF 2024


PETITIONER:

          SAMEER.P.M., AGED 45 YEARS, S/O MUHAMMED,
          PANDIYARAPPILLIL, MUDAVOOR, NEAR CIVIL
          STATION, MUVATTUPUZHA, VELLOORKUNNAM P.O,
          ERNAKULAM DISTRICT, PIN - 686669

          BY ADVS.
          P.MOHAMED SABAH
          LIBIN STANLEY
          SAIPOOJA
          SADIK ISMAYIL
          GAYATHRI R.
          M.MAHIN HAMZA
          RAYEES P.
          ALWIN JOSEPH
          BENSON AMBROSE


RESPONDENT:

          ICICI BANK LTD, EDAPPALLY BRANCH, BM COMPLEX,
          NATIONAL HIGHWAY, OPP.EDAPALLY ST.GEORGE CHURCH,
          EDAPPALLY, KOCHI, ERNAKULAM DISTRICT, REPRESENTED
          BY ITS MANAGER, PIN - 682024

          SRI.PRADEESH CHACKO


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC 18475/24
                                       2

                         JUDGMENT

When this matter was called today, the learned Standing Counsel for the respondent-Bank, submitted that the loan account of the petitioner involved in this case can be settled for a total amount of Rs.17,59,867/-, as on 23.05.2024, along with all applicable charges and interest, provided he pays an amount of Rs.5,00,000/- on or before 10.06.2024 and the balance in not more than 12 equal monthly installments.

2. The learned counsel for the petitioner - Sri.P.Mohamed Sabah accepted the afore suggestion.

Taking note of the afore submissions, I allow this Writ Petition, permitting the petitioner to pay Rs.5,00,000/- on or before 10.06.2024 and the balance in the total outstanding, along with all applicable charges and interest, in 12 equal monthly installments commencing from 25.07.2024.

Needless to say, if the amounts as afore are paid by the petitioner, the account will stand closed and the Bank will return to him all security documents as are necessary; but, if on the WPC 18475/24 3 contrary, any two installments are defaulted, the benefit of this judgment will be lost to him and the Bank will be at full liberty to pursue further action against him without having to obtain further orders from this Court.

It is also needless to say, therefore, that as long as the amounts as afore are paid, all further proceedings in relation with the repossession of the Earth Moving Equipment in question will stand deferred.

Sd/-

RR                                      DEVAN RAMACHANDRAN
                                              JUDGE
 WPC 18475/24
                                 4

                APPENDIX OF WP(C) 18475/2024

PETITIONER EXHIBITS
Exhibit P1          TRUE COPY OF THE REGISTRATION CERTIFICATE
                    OF THE EARTH MOVING EQUIPMENT BEARING
                    REGISTRATION NO. KL-17-U-6443