Shyju Thomas vs The Kerala Bank
2021 Latest Caselaw 10391 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 26TH DAY OF MARCH 2021 / 5TH CHAITHRA, 1943

                       WP(C).No.6554 OF 2021(T)


PETITIONER:

               SHYJU THOMAS
               AGED 46 YEARS
               S/O.THOMAS NACHERY HOUSE, KUMBLERI POST, MEENANGADI,
               KUMBALERI P.O., WAYANAD DISTRICT, PIN-673581.

               BY ADV. SRI.P.T.MOHANKUMAR

RESPONDENTS:

      1        THE KERALA BANK
               (THE KERALA STATE CO-OPERATIVE BANK LTD.),
               REPRESENTED BY ITS BRANCH MANAGER, AMBALAVAYAL P.O.,
               WAYANAD DISTRICT, PIN-673593.

      2        THE AUTHORISED OFFICER,
               THE KERALA STATE CO-OPERATIVE BANK LTD., WAYANAD,
               KALPETTA NORTH, PIN-673122.


OTHER PRESENT:

               SC-SRI. ATHUL SHAJI

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.6554 OF 2021(T)

                                      2

                               JUDGMENT

Dated this the 26th day of March 2021

Heard both sides.

2. The petitioner is a farmer by occupation. He availed a loan

of Rs.10 lakhs from the respondent for the purpose of conducting

agricultural operations. Because of unprecedented flood and weather

conditions, the petitioner could not repay the loan as per the

instalment granted by the respondent. This has resulted in declaring

the loan as non-performing asset.

3. The learned counsel for the petitioner submitted that the

petitioner is willing to get the loan regularized by making payment of

the overdue amount in instalments.

4. The learned counsel appearing for the respondents submits

that as of 17.03.2021, the overdue amount is about 6,52,778/- and

the respondents are willing to grant facility of instalments to the

petitioner. In this view of the matter, the petition is disposed of with

the following directions:

5. The petitioner to clear the entire overdue amount in ten

equated successive monthly instalments commencing from

30.03.2021. In addition, the petitioner should also pay EMIs regularly.

If the petitioner complies with these directions, then respondents WP(C).No.6554 OF 2021(T)

should keep the action under the SARFAESI Act, in abeyance. In case

of single default, the respondents shall continue with the action under

the SARFAESI Act. No further extension of time shall be granted to the

petitioner for compliance with these directions.

SD/-

A.M.BADAR JUDGE Nsd

//TRUE COPY//

PA TO JUDGE WP(C).No.6554 OF 2021(T)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE PAGES OF THE PASS BOOK OF THE PETITIONER SHOWING ENTRIES OF THE LOAN TRANSACTION WITH THE 1ST RESPONDENT BANK.

EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DIRECTING PAYMENT AND INTIMATING STEPS PROPOSED TO BE TAKEN FOR RECOVERY DATED 7.12.2020.