Susamma Mathew vs The Authorised Officer And Chief ...
2021 Latest Caselaw 21667 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    TUESDAY, THE 2ND DAY OF NOVEMBER 2021 / 11TH KARTHIKA, 1943
                       WP(C) NO. 23882 OF 2021
PETITIONER:

          SUSAMMA MATHEW
          AGED 48 YEARS
          W/O.MATHEW V.O., VARIKKOLIL VEEDU, EDAMON P.O., KOLLAM
          DISTRICT 691 307

          BY ADVS.
          MANOJ RAMASWAMY
          JOLIMA GEORGE
          C.B.SABEELA
          JISHA SASI
          CHINNU ROSE MARY THOMAS



RESPONDENTS:

    1     THE AUTHORISED OFFICER AND CHIEF MANAGER, THE FEDERAL
          BANK LTD.
          ASSET RECOVERY BRANCH, FEDERAL TOWERS, 4TH FLOOR,
          FEDERAL TOWERS, STATUE, THIRUVANANTHAPURAM 695 001

    2     THE BRANCH MANAGER
          FEDERAL BANK LTD., EDAMON BRANCH, EDAMON P.O., PUNALUR
          VIA., KOLLAM DISTRICT 691 307




          SC P.PAULOCHAN ANTONY




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 23882 OF 2021
                                2



                 BECHU KURIAN THOMAS, J
              -------------------------------
                  WP(C) NO. 23882 OF 2021
               --------------------------------
            Dated this the 2nd day of November, 2021

                           JUDGMENT

Petitioner as a borrower from the respondent bank, has

committed default in repayment. Consequently, proceedings

have been initiated by the bank for recovery of the amounts

due.

2. During the course of hearing, petitioner had confined

the relief to an opportunity for repaying the overdue amount in

instalments and to obtain regularization of the loan account.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

overdue amount is Rs.7,51,869/-. It was further submitted that

though proceedings for recovery have been initiated, as a

matter of indulgence, the respondent bank is willing to accept

repayment of the overdue amount in limited instalments and

regularise the loan account.

4. I have heard Adv. Manoj Ramaswamy, the learned WP(C) NO. 23882 OF 2021

counsel for the petitioner as well as Adv. Paulochan Antony, the

learned Standing Counsel for the respondents.

5. Having regard to the circumstances of the case and

the situation now prevailing, apart from the submissions made

as recorded above, I am of the view that the petitioner can be

granted an opportunity to repay the overdue amount in 12

instalments and thereafter, if the amount so directed is repaid

within the time as directed above, to have the loan account

regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.7,51,869/- along with bank charges from the

petitioner and regularise the loan account of the petitioner on

the following conditions:

i. The overdue amount of Rs. 7,51,869/- shall be repaid in 12 equated monthly instalments.

ii. The first instalment shall be paid on or before 30.11.2021

iii. Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

WP(C) NO. 23882 OF 2021

iv. In the event of default of any one instalment,the respondent bank shall be entitled to proceed in accordance with law.

v. In order to enable the petitioner to repay the entire amounts, all coercive steps shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE AJ WP(C) NO. 23882 OF 2021

APPENDIX OF WP(C) 23882/2021

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 20.8.2018

Exhibit P2 TRUE COPY OF THE JUDGMENT DATED 5.12.2018 IN W.P.(C) 38705 OF 2018 BY THIS HON'BLE COURT

Exhibit P3 TRUE COY OF THE NOTICE DATED 12.10.2021

Exhibit P4 TRUE COPY OF THE APPLICATION SUBMITTED BEFORE THE BANK DATED 22.10.2021