Victor Joseph vs The Manager, Uco Bank
2021 Latest Caselaw 21700 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. 23850 OF 2021

PETITIONER:

            VICTOR JOSEPH
            AGED 49 YEARS, S/O. LASSAR,
            ADEN HOUSE,
            PARAMUKAL, KALLAYAM P. O.,
            VATTAPPARA VILLAGE,
            THIRUVANANTHAPURAM DISTRICT.
            BY ADV M.ABDUL RASHEED


RESPONDENTS:

    1       THE MANAGER,
            UCO BANK, VATTAPPARA BRANCH,
            LEVAMI COMPLEX,
            THIRUVANANTHAPURAM - 695028.
    2       THE CHIEF MANAGER AND AUTHORIZED OFFICER
            UCO BANK, VATTAPPARA BRANCH,
            LEVAMI COMPLEX,
            THIRUVANANTHAPURAM - 695028.
            BY ADV.H.RAMANAN, SC FOR UCO BANK



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   02.11.2021,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.23850/21
                                     -:2:-


                     BECHU KURIAN THOMAS, J.
                     -----------------------------------------
                        W.P.(C) No.23850 of 2021
                     ----------------------------------------
                 Dated this the 2nd day of November, 2021

                                 JUDGMENT

Petitioner had availed a property loan and a housing loan from

the respondent bank. He has committed default in repayment.

Consequently, proceedings have been initiated by the bank for

recovery of the amounts due.

2. The overdue amount under the property loan is

Rs.4,25,000/- while that under the housing loan is Rs.68,000/-.

Since the sale is scheduled to be held on 17.11.2021, petitioner

seeks to repay 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.4,93,000/-. 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. W.P.(C) No.23850/21

4. I have heard Adv.M.Abdul Rasheed, learned counsel for the

petitioner as well as Adv.H.Ramanan, 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 ten 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.4,93,000/-

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.4,93,000 /- shall be repaid in ten monthly instalments.

(ii) The first instalment of Rs.1,00,000/- shall be paid on or before 16.11.2021 and the remaining amount shall be paid in nine equated monthly instalments.

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

W.P.(C) No.23850/21

(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 proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE vps W.P.(C) No.23850/21

APPENDIX OF WP(C) 23850/2021

PETITIONER'S/S' EXHIBITS Exhibit P1 TRUE PHOTOCOPY OF THE SALE NOTICE DATED 12.10.2021 ISSUED BY THE RESPONDENT BANK TO THE PETITIONER BANK.

Exhibit P2 TRUE PHOTOCOPY OF THE REPRESENTATION DATED 06.10.2021 SUBMITTED BY PETITIONER BEFORE THE RESPONDENT BANK.