Shibu M.J vs The State Bank Of India
2021 Latest Caselaw 22931 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   TUESDAY, THE 23RD DAY OF NOVEMBER 2021 / 2ND AGRAHAYANA, 1943
                        WP(C) NO. 25195 OF 2021
PETITIONER :

          SHIBU M.J.,
          AGED 45 YEARS,
          S/O SUKUMARAN M.K, MULLANKUZHIYIL HOUSE,
          PERAVOOR P.O., VELLAYIPARAMUNDA,
          KANNUR-670 673.

          BY ADV SATHEESHAN ALAKKADAN



RESPONDENTS :

    1     THE STATE BANK OF INDIA,
          FORT ROAD, KANNUR BRANCH, KANNUR-670 001,
          REPRESENTED BY ITS MANAGER

    2     THE AUTHORISED OFFICER,
          THE STATE BANK OF INDIA,
          FORT ROAD, KANNUR-670 001.

          BY ADVS.
          G.G.MANOJ
          S.SARATH PRASAD

          BY ADV.DEVANAND, SC




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 25195 OF 2021
                                        2


                   BECHU KURIAN THOMAS, J.
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                    W.P.(C) No.25195 of 2021
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            Dated this the 23rd 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 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 as on

16.11.2021 is Rs.3,40,000/-. 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.

4. I have heard Adv.Satheesan Alakkadan, the learned counsel

for the petitioner as well as Adv.Devanand, 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 WP(C) NO. 25195 OF 2021

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.3,40,000/- 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.3,40,000/- shall be repaid in 10 equated monthly instalments.

(ii) The first instalment shall be paid on or before 20.12.2021.

(iii) Petitioner shall continue to pay the regular EMI's 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 proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 25195 OF 2021

APPENDIX OF WP(C) 25195/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE NOTICE DATED 5.9.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER ALONG WITH TYPED COPY