Babu T.P vs The Peoples' Urban Co-Operative ...
2021 Latest Caselaw 21685 Ker

Citation : 2021 Latest Caselaw 21685 Ker
Judgement Date : 2 November, 2021

Kerala High Court

Babu T.P vs The Peoples' Urban Co-Operative ... on 2 November, 2021

               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. 22149 OF 2021
PETITIONER:

          BABU T.P.
          AGED 69 YEARS
          S/O PADMANABHAN T.K, NETHAJI ROAD, POTTEAPAPADAM LANE,
          PADIVATTAM, EDAPALLY P.O.KOCHI-682 024.

          BY ADVS.
          K.T.SHYAMKUMAR
          HARISH R. MENON
          K.N.ABHA
          A.G.PRASANTH



RESPONDENTS:

    1     THE PEOPLES' URBAN CO-OPERATIVE BANK LTD NO 51,
          HAD OFFICE, TRIPUNITHURA P.O.ERNAKULAM DISTRICT,
          REPRESENTED BY ITS GENERAL MANAGER

    2     THE AUTHORISED OFFICER,
          THE PEOPLES URBAN CO-OPERATIVE BANK LTD NO 51,
          PALARIVATTAM BRANCH, ERNAKULAM




          ADV. DEVAPRASANTH P.J. FOR R1,2




     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. 22149 of 2021
                                 2

              BECHU KURIAN THOMAS, J
            -------------------------------
               WP(C) NO. 22149 of 2021
             --------------------------------
          Dated this the 2nd day of November, 2021

                          JUDGMENT

Petitioner as 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 the hearing, petitioner has

confined the relief to an opportunity for repaying the

overdue amount in instalments and to obtain

regularisation 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.5,58,551/-. 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. WP(C) NO. 22149 of 2021

4. I have heard Adv. K.T.Shyam Kumar, the learned

Counsel for the petitioner as well as Adv. Devaprasanth,

the learned 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 10 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.5,58,551/- 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.5,58,551/- shall

be repaid in 10 equated monthly instalments.

ii. The first instalment shall be paid on or

before 11.11.2021.

iii. Petitioner shall continue to pay the regular WP(C) NO. 22149 of 2021

EMI's as directed above along with the

instalments directed above.

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/02.11.2021 WP(C) NO. 22149 of 2021