Niju Soman vs The Trivandrum Co-Operative ...
2021 Latest Caselaw 22994 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. 26298 OF 2021
PETITIONERS :

    1     NIJU SOMAN,
          AGED 39 YEARS,
          S/O. SOMAN, XII/126, TEJAS, VETTU ROAD,
          KANIYAPURAM 695 701, THIRUVANANTHAPURAM
          (NOW RESIDING AT SMITHA NIVAS, PAROTTUKONAM,
          NALANCHIRA P.O, 695 015, THIRUVANANTHAPURAM)

    2     NISHA SOMAN,
          AGED 42 YEARS,
          D/O. SOMAN, XII/26, TEJAS, VETTU ROAD, KANIYAPURAM
          695 701 THIRUVANANTHAPURAM (NOW RESIDING AT FLAT NO.
          101, SRI DAKSHAYANI APPARTMENTS, YEMALUR, MAIN ROAD,
          MARATHAHALLI POST, BANGALORE, KARNATAKA - 560 037

          BY ADVS.
          D.SAJEEV
          LIGEY ANTONY


RESPONDENTS :

    1     THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.,
          HEAD OFFICE PB NO. 115,
          M.G.ROAD, THIRUVANANTHAPURAM 695 001
          REPRESENTED BY ITS GENERAL MANAGER

    2     THE AUTHORIZED OFFICER,
          ASSISTANT GENERAL MANAGER, THE TRIVANDRUM
          CO-OPERATIVE URBAN BANK LTD, HEAD OFFICE P.B NO.115,
          MG ROAD, THIRUVANANTHAPURAM - 695 001

    3     THE BRANCH MANAGER,
          THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD,
          MAIN BRANCH, P.B NO. 115
          MG ROAD, THIRUVANANTHAPURAM - 695 001

          SRI.NISHA GEORGE, 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. 26298 OF 2021
                                      2

                   BECHU KURIAN THOMAS, J.
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                   W.P.(C). No.26298 of 2021
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            Dated this the 23th day of November, 2021

                               JUDGMENT

Petitioners as borrowers from the respondent bank, have

committed default in repayment. Consequently, proceedings have been

initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioners have 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

petitioners committed default in repayment and the overdue amount is

Rs.9,26,666/-. 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.D.Sajeev, the learned counsel for the

petitioners as well as Adv.Nisha George, 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 petitioners can be granted an opportunity

to repay the overdue amount in 13 instalments and thereafter, if the WP(C) NO. 26298 OF 2021

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.9,26,666/- along

with bank charges from the petitioners and regularise the loan account of

the petitioners on the following conditions :

(i) The overdue amount of Rs.9,26,666/- shall be repaid in 13 monthly instalments.

(ii) The petitioners shall deposit an amount of Rs.1,00,000/- on or before 15.12.2021. If the aforesaid amount is paid, then the petitioners will be entitled to repay the balance amount in 12 equated monthly instalments commencing from 15.01.2022.

(iii) Petitioners 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 petitioners 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. 26298 OF 2021

APPENDIX OF WP(C) 26298/2021

PETITIONERS' EXHIBITS :

Exhibit P1 TRUE COPY OF THE NOTICE DATED 30-11-2020 ISSUED UNDER SECTION 13(2) OF SARFAESI ACT 2002 BY THE 2ND RESPONDENT

Exhibit P2 TRUE COPY OF THE NOTICE DATED 09-11-2021 ISSUED BY THE ADVOCATE COMMISSIONER TO THE 2ND PETITIONER.

Exhibit P3 TRUE COPY OF THE ORDER DATED 10-09-2021 IN M.C NO. 363/2021 ON THE FILE OF THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT OF THIRUVANANTHAPURAM.

Exhibit P4 TRUE COPY OF THE STATEMENT OF ACCOUNTS SUBMITTED BY 2ND RESPONDENT IN M.C NO.

363/2021