Kerala High Court
Jayan vs The Registrar, Debt Recovery ... on 25 November, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 25TH DAY OF NOVEMBER 2021 / 4TH AGRAHAYANA, 1943
OP (DRT) NO. 258 OF 2021
AGAINST THE ORDER/JUDGMENT IN SA 147/2021 OF DEBT RECOVERY
TRIBUNAL, ERNAKULAM
PETITIONER:
JAYAN, AGED 52 YEARS
S/O.KUTTAPPAN, KAALAAMPARAMBIL HOUSE,
VELUTHOOR P.O., THRISSUR - 680 012.
BY ADV S.MUMTAZ SHUMSUDDIN
RESPONDENTS:
1 THE REGISTRAR, DEBT RECOVERY TRIBUNAL -II
KSHB BUILDING, PANAMPILLY NAGAR,
ERNAKULAM - 682 036.
2 THE THRICHUR URBAN CO-OPERATIVE BANK LTD.
REP. BY THE AUTHORIZED OFFICER,
HEAD OFFICE, MISSION QUARTERS,
THRISSUR - 680 001.
SRI.DEVAPRASANTH P.J., SC
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 25.11.2021, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
OP (DRT) NO. 258 OF 2021
2
BECHU KURIAN THOMAS, J
=======================
O.P.(DRT) No.258 of 2021
-------------------------------
Dated this the 25th 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 outstanding amount in
instalments.
3. It was submitted on behalf of the respondent-Bank that
the petitioner committed default in repayment and the outstanding
amount is Rs.11,39,957/-. 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 outstanding amount in limited instalments.
4. I have heard Smt.Mumtaz Shumsuddin, the learned
counsel for the petitioner as well as Sri.Devaprasanth.P.J., the
learned Standing Counsel for the 2nd respondent.
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
OP (DRT) NO. 258 OF 2021
granted an opportunity to repay the outstanding amount in '11'
instalments.
6. Accordingly, there will be a direction to the respondent-
Bank to accept repayment of the entire outstanding amount of
Rs.11,39,957/- along with bank charges from the petitioner on the
following conditions:
(i). The overdue amount of Rs.11,39,957/- shall be repaid in a
total of '11' instalments, on condition that an amount of
Rs.1,00,000/- (Rupees One lakh only) shall be paid by the
petitioner on or before 22.12.2021.
(ii). If the said amount is paid as directed above, the petitioner
will be entitled to clear the balance amount, after deducting the
said amount of Rs.1,00,000/-, in '10' equated monthly
instalments, commencing from 20.01.2022.
(iii). In the event of default of any one instalment, the
respondent-Bank shall be entitled to proceed in accordance with
law.
(iv) In order to enable the petitioner to repay the entire
amounts, all coercive proceedings against the petitioner shall
be kept in abeyance.
The original petition is disposed of.
Sd/-
BECHU KURIAN THOMAS,
JUDGE
AJM
OP (DRT) NO. 258 OF 2021
APPENDIX OF OP (DRT) 258/2021
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF MEMORANDUM OF
SECURITIZATION APPLICATION NO.147/2021
OF DEBTS RECOVERY TRIBUNAL-II,
ERNAKULAM.
Exhibit P2 TRUE COPY OF STAY PETITION IN
SECURITIZATION APPLICATION NO.147/2021
OF DEBTS RECOVERY TRIBUNAL-II,
ERNAKULAM.
Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER IN CMP
NO.1742/2020 OF CHIEF JUDICIAL
MAGISTRATE COURT, THRISSUR. DATED
18.11.2021
RESPONDENTS EXHIBITS NIL
TRUE COPY
