Bibin K.B vs Muvattupuzha Urban Co-Op. Bank ...
2021 Latest Caselaw 23625 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   TUESDAY, THE 30TH DAY OF NOVEMBER 2021 / 9TH AGRAHAYANA, 1943
                      WP(C) NO. 27096 OF 2021
PETITIONER:

          BIBIN K.B
          AGED 32 YEARS
          S/O BALAN, KALLUVETTUKUZHIYIL HOUSE,
          PANDAPILLY.P.O, AARAKUZHA-686 672.
          BY ADV E.V.MOLY


RESPONDENT:

          MUVATTUPUZHA URBAN CO-OP. BANK LTD.NO.556,
          KACHERITHAZHAM, MUVATTPUAZHA.PO,
          686661, REPRESENTED BY ITS AUTHORIZED OFFICER.
OTHER PRESENT:

          ADV.SAJEEV KUMAR,K.GOPAL-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27096 OF 2021
                             2




             BECHU KURIAN THOMAS, J
           ................................................
             W.P.(C) No. 27096 of 2021
             ...........................................
      Dated this the 30th 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 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 petitioner committed default in repayment and

the overdue amount is Rs.2,47,664/-. It was further

submitted that though proceedings for recovery have

been initiated, as a matter of indulgence, the WP(C) NO. 27096 OF 2021

respondent Bank is willing to accept repayment of

the overdue amount in limited instalments and

regularise the loan account.

4. I have heard Smt.Moly E.V., the learned counsel for

the petitioner as well as Sri.Sajeev Kumar K.Gopal,

learned Standing Counsel for the 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 granted an

opportunity to repay the overdue amount in '6'

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.2,47,664/- along with bank

charges from the petitioner and to regularise the

loan account of the petitioner, on the following

conditions:

WP(C) NO. 27096 OF 2021

(i) Petitioner to deposit an amount of

Rs.50,000/- [Rupees Fifty thousand only]

on or before 20.12.2021.

(ii) If the said amount is deposited as

directed, petitioner shall have the

opportunity to pay the balance entire

overdue amount latest by 20.03.2022,

either in instalments or together.

(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) The respondent shall also consider the

settlement offer proposed by the petitioner

as per Ext.P3, as expeditiously as possible,

at any rate, within 30 days from the date

of receipt of a copy of this judgment. WP(C) NO. 27096 OF 2021

(vi) 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.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 27096 OF 2021

APPENDIX OF WP(C) 27096/2021

PETITIONER'S EXHIBITS :

Exhibit P1 THE TRUE COPY OF THE NOTICE DATED 06.07.2021 RECEIVED BY THE PETITIONER Exhibit P2 THE TRUE COPY OF THE NOTICE DATED 28.10.2021 ISSUED BY THE RESPONDENT BANK Exhibit P3 THE TRUE COPY OF THE REPRESENTATION DATED 23.11.2021 SUBMITTED BY THE PETITIONER.

RESPONDENT'S EXHIBITS : NIL



AJM               //TRUE COPY//              PA TO JUDGE