Kerala High Court
Subaida V vs Indian Overseas Bank 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
WP(C) NO. 22165 OF 2021
PETITIONERS :
1 SUBAIDA V.,
AGED 46 YEARS,
W/O.USMAN V., VADAKKAYIL HOUSE,
KARANTHUR P.O., KUNNAMANGALAM,
KOZHIKODE DISTRICT 673 571
2 USMAN V.,
AGED 56 YEARS,
S/O.ABDULLA, VADAKKAYIL HOUSE,
KARANTHUR P.O., KUNNAMANGALAM,
KOZHIKODE DISTRICT 673 571
BY ADVS.
M.MUHAMMED SHAFI
T.RASINI
RESPONDENT :
INDIAN OVERSEAS BANK,
KOZHIKODE BRANCH, 11/41 C.M. SONS ARCADE,
1ST FLOOR, CHEROOTY ROAD, KOZHIKODE 673 001,
REP.BY ITS AUTHORIZED OFFICER
BY ADVS.
SUNIL SHANKER, SC
VIDYA GANGADHARAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 22165 OF 2021
2
BECHU KURIAN THOMAS, J.
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W.P.(C).No.22165 of 2021
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Dated this the 25th 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.5,30,000/-. 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.Muhammed Shafi M., the learned
counsel for the petitioners as well as Adv.Sunil Shankar, the learned
Standing Counsel for the respondents.
WP(C) NO. 22165 OF 2021
5. Having regard to the circumstances of the case the
overdue amount is comprised of the interest on the loan alone.
Hence petitioner can be granted an opportunity to repay the overdue
amount in four instalments and continue to pay the interest on the
loan as agreed. Thereafter, if the amount so directed is repaid within
the time directed, to have the loan account regularised. As per the
agreement, the regular instalments towards repayment of the loan
will start only in January 2022 and the same will have to be abided
with.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
Rs.5,30,000/- 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.5,30,000/- shall be
repaid in four equated monthly instalments.
(ii) The first instalment shall be paid on or before
20.12.2021.
(iii) Petitioners shall furnish the GST Registration
Certificate to the respondents.
(iv) Petitioners will continue to pay interest that accrue on
loan as agreed and also pay the regular instalments
that starts repayment from January, 2022.
WP(C) NO. 22165 OF 2021
(v) Petitioners shall continue to pay the regular EMI's
along with the instalments directed above.
(vi) In the event of default of any one instalment, the
respondent bank shall be entitled to proceed in
accordance with law.
(vii) 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. 22165 OF 2021
APPENDIX OF WP(C) 22165/2021
PETITIONER'S EXHIBITS :
Exhibit P1 TRUE COPY OF THE REPRESENTATION SUBMITTED
BY THE 1ST PETITIONER DATED 17.12.020
Exhibit P2 TRUE COPY OF THE NOTICE DATED 19.7.2021
ISSUED BY THE RESPONDENT BANK
