Prasad C Pillai vs South Indian Bank Ltd
2021 Latest Caselaw 15641 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR. JUSTICE A.M.BADAR
      TUESDAY, THE 27TH DAY OF JULY 2021 / 5TH SRAVANA, 1943
                       WP(C) NO. 14907 OF 2021
PETITIONERS:

1         PRASAD C PILLAI, AGED 61 YEARS, S/O.CHELAPPAN PILLAI,
          KOCHILAKATTU (H), ELACKAD, KANGAZHA, KOTTAYAM 686 541

2         CHANDINI S NAIR, AGED 56 YEARS, W/O. PRASAD C PILLAI,
          KOCHILAKATTU (H), ELACKAD, KANGAZHA, KOTTAYAM 686 541.

          BY ADV SREEHARI INDUKALADHARAN



RESPONDENTS:

1         SOUTH INDIAN BANK LTD.
          REPRESENTED BY ITS AUTHORISED OFFICER, NEDUMKUNNAM
          BRANCH, PUTHIYAPARAMBIL BUILDING KAVUNADA, KARUKACHAL-
          MANIMALA ROAD, NEDUMKUNNAM, KOTTAYM - 686 542.

2         THE BRANCH MANAGER, SOUTH INDIAN BANK LTD, NEDUMKUNNAM
          BRANCH, PUTHIYAPARAMBIL BUILDING KAVUNADA, KARUKACHAL-
          MANIMALA ROAD, NEDUMKUNNAM, KOTTAYAM - 686 542.


OTHER PRESENT:

          SRI.K.K.JOHN,SC




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.07.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.14907 of 2021            2


                           JUDGMENT

Heard both sides.

2. Learned counsel for petitioners submits that the petitioners

want to clear the entire overdue amount and then to regularise the

loan account from the respondents. He submits that the entire

overdue amount can be paid to respondents in three successive

monthly instalments commencing from August 2021.

3. Learned Standing Counsel appearing for respondents

submits that the petitioners had availed overdraft facility of

Rs.68.50 lakhs in June 2017 and subsequently, in August 2020, the

respondent-Bank had shown indulgence and granted a loan of

Rs.3,87,224/- as that much amount of interest was not paid by

petitioners. Now the account of petitioners is declared as non-

performing asset from 29.01.2021 and the overdue amount is about

Rs.8.30 lakhs. Learned Standing Counsel submits that this amount

can be paid by three successive monthly instalments commencing

from July 2021.

4. Learned counsel for petitioners submits that considering

the effect of pandemic Covid-19, instalments may be directed to be

paid from August 2021.

5. In this view of the matter, as the respondents are willing to

grant instalments to the petitioners for clearing the overdue amount

for the purpose of regularisation of the overdraft facility, this writ

petition is disposed of with the following directions:

The petitioners to pay an amount of Rs.2 lakhs by the end of

August, 2021, an amount of Rs.3 lakhs by the end of September,

2021 and the balance of the overdue amount with interest etc. by

the end of October 2021. If the petitioners make payment of the

overdue amount in such three equated successive monthly

instalments and submit proof of clearance of the entire overdue

amount, respondents shall consider regularisation of the loan

account of the petitioners. A single default on the part of the

petitioners in compliance with these directions shall entail the

respondents to continue with the coercive action initiated against

the petitioners. No further extension of time shall be granted to the

petitioners for compliance with these directions.

Sd/-

A.M.BADAR JUDGE smp

APPENDIX

PETITIONER'S EXHIBITS:

EXT.P1 : COPY OF DEMAND NOTICE ISSUED BY R1 DTD.16.6.2021.

EXT.P2 : COPY OF TRANSACTION RECEIPT DTD.30.06.2021.

RESPONDENTS' EXHIBITS: NIL.

True Copy

P.S to Judge

smp